Goodwill and Intangible Assets (Tables)
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6 Months Ended |
Jun. 30, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] |
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Schedule of changes in Goodwill |
The changes in the carrying amount of goodwill are presented in the table below: | | | | | | | | | | | | (in Millions) | | | | | | | Total | Balance, December 31, 2021 | | | | | | | $ | 1,463.3 | | | | | | | | | | | | | | | | | | Foreign currency and other adjustments | | | | | | | (7.5) | | Balance, June 30, 2022 | | | | | | | $ | 1,455.8 | |
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Schedule of finite-lived intangible assets |
Our intangible assets, other than goodwill, consist of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2022 | | December 31, 2021 | (in Millions) | Gross | | Accumulated Amortization | | Net | | Gross | | Accumulated Amortization | | Net | Intangible assets subject to amortization (finite-lived) | Customer relationships | $ | 1,121.9 | | | $ | (320.9) | | | $ | 801.0 | | | $ | 1,147.1 | | | $ | (301.3) | | | $ | 845.8 | | Patents | 1.8 | | | (1.3) | | | 0.5 | | | 1.8 | | | (1.3) | | | 0.5 | | Brands (1) | 15.7 | | | (9.8) | | | 5.9 | | | 17.1 | | | (9.9) | | | 7.2 | | Purchased and licensed technologies | 58.6 | | | (41.3) | | | 17.3 | | | 60.2 | | | (40.7) | | | 19.5 | | Other intangibles | 1.8 | | | (1.7) | | | 0.1 | | | 2.3 | | | (1.7) | | | 0.6 | | | $ | 1,199.8 | | | $ | (375.0) | | | $ | 824.8 | | | $ | 1,228.5 | | | $ | (354.9) | | | $ | 873.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Intangible assets not subject to amortization (indefinite-lived) | Crop Protection Brands (2) | $ | 1,259.1 | | | | | $ | 1,259.1 | | | $ | 1,259.1 | | | | | $ | 1,259.1 | | Brands (1) | 362.5 | | | | | 362.5 | | | 389.2 | | | | | 389.2 | | | | | | | | | | | | | | | $ | 1,621.6 | | | | | $ | 1,621.6 | | | $ | 1,648.3 | | | | | $ | 1,648.3 | | Total intangible assets | $ | 2,821.4 | | | $ | (375.0) | | | $ | 2,446.4 | | | $ | 2,876.8 | | | $ | (354.9) | | | $ | 2,521.9 | | ____________________ (1) Represents trademarks, trade names and know-how. (2) Represents proprietary brand portfolios, consisting of trademarks, trade names and know-how, of our crop protection brands.
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Schedule of indefinite-lived intangible assets |
Our intangible assets, other than goodwill, consist of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2022 | | December 31, 2021 | (in Millions) | Gross | | Accumulated Amortization | | Net | | Gross | | Accumulated Amortization | | Net | Intangible assets subject to amortization (finite-lived) | Customer relationships | $ | 1,121.9 | | | $ | (320.9) | | | $ | 801.0 | | | $ | 1,147.1 | | | $ | (301.3) | | | $ | 845.8 | | Patents | 1.8 | | | (1.3) | | | 0.5 | | | 1.8 | | | (1.3) | | | 0.5 | | Brands (1) | 15.7 | | | (9.8) | | | 5.9 | | | 17.1 | | | (9.9) | | | 7.2 | | Purchased and licensed technologies | 58.6 | | | (41.3) | | | 17.3 | | | 60.2 | | | (40.7) | | | 19.5 | | Other intangibles | 1.8 | | | (1.7) | | | 0.1 | | | 2.3 | | | (1.7) | | | 0.6 | | | $ | 1,199.8 | | | $ | (375.0) | | | $ | 824.8 | | | $ | 1,228.5 | | | $ | (354.9) | | | $ | 873.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Intangible assets not subject to amortization (indefinite-lived) | Crop Protection Brands (2) | $ | 1,259.1 | | | | | $ | 1,259.1 | | | $ | 1,259.1 | | | | | $ | 1,259.1 | | Brands (1) | 362.5 | | | | | 362.5 | | | 389.2 | | | | | 389.2 | | | | | | | | | | | | | | | $ | 1,621.6 | | | | | $ | 1,621.6 | | | $ | 1,648.3 | | | | | $ | 1,648.3 | | Total intangible assets | $ | 2,821.4 | | | $ | (375.0) | | | $ | 2,446.4 | | | $ | 2,876.8 | | | $ | (354.9) | | | $ | 2,521.9 | | ____________________ (1) Represents trademarks, trade names and know-how. (2) Represents proprietary brand portfolios, consisting of trademarks, trade names and know-how, of our crop protection brands.
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Schedule of finite-lived intangible assets amortization expense |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | (in Millions) | 2022 | | 2021 | | 2022 | | 2021 | Amortization expense | $ | 15.3 | | | $ | 15.7 | | | $ | 30.7 | | | $ | 31.5 | |
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