Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 13. GOODWILL AND INTANGIBLE ASSETS

We conduct our annual impairment testing of goodwill and non-amortizing intangible assets during the fourth quarter. The 2021, 2020 and 2019 reviews concluded that no impairment charges were necessary. See Note 2 to the Consolidated Financial Statements for a discussion of our accounting policy for goodwill and intangible assets.

The following table details amounts related to our goodwill and intangible assets as of December 31, 2021 and 2020:


		December 31, 2021				December 31, 2020
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizing intangible assets
Customer relationships	1-20 years	$	196.7	$	144.8	$	200.6	$	128.9
Developed technology	13-19 years		92.9		82.6		92.1		77.9
Software	7 years		9.1		1.3		9.1		-
Trademarks and brand names	5-10 years		4.0		2.0		4.0		1.3
Non-compete agreements	3-5 years		5.6		1.4		6.3		0.4
Other	Various		0.4		0.1		6.9		0.2
Total		$	308.7	$	232.2	$	319.0	$	208.7
Non-amortizing intangible assets
Trademarks and brand names	Indefinite		344.9				347.2
Total intangible assets		$	653.6			$	666.2

Goodwill	Indefinite	$	167.0			$	160.7

The increase in goodwill as of December 31, 2021 resulted primarily from customary adjustments to valuations for Arktura assets acquired and liabilities assumed on December 16, 2020 and foreign exchange movements.


	2021		2020		2019
Amortization expense	$	33.8	$	22.1	$	19.9

The expected annual amortization expense for the years 2022 through 2026 are as follows:


2022	$	16.2
2023		13.6
2024		13.1
2025		12.5
2026		9.0