Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

Changes in the carrying value of goodwill by reporting unit were as follows:

	Total		DWS		CA&I		ECS		Other
Balance at December 31, 2021	$	315.0	$	140.9	$	65.5	$	98.3	$	10.3
Acquisition - Measurement period adjustment (see Note 3)	(27.5)		—		(27.5)		—		—
Translation adjustments	(0.7)		(0.7)		—		—		—
Balance at June 30, 2022	$	286.8	$	140.2	$	38.0	$	98.3	$	10.3

At June 30, 2022, the amount of goodwill allocated to reporting units with negative net assets within Other was $10.3 million.

Intangible Assets, Net

Intangible assets, net at June 30, 2022 consists of the following:

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology (i)	$	10.0	$	3.4	$	6.6
Customer relationships (ii)	54.2		4.7		49.5
Marketing (ii)	1.3		0.2		1.1
Total	$	65.5	$	8.3	$	57.2

(i) Amortization expense is included within cost of revenue - technology in the consolidated statements of income (loss).

(ii) Amortization expense is included within selling, general and administrative expense in the consolidated statements of income (loss). See Note 3 for measurement period adjustment.

For the three months ended June 30, 2022 and 2021 amortization expense was $2.9 million and $0.5 million, respectively. For the six months ended June 30, 2022 and 2021 amortization expense was $5.3 million and $0.5 million, respectively.

The future amortization relating to acquired intangible assets at June 30, 2022 was estimated as follows:

	Future Amortization Expense
Remainder of 2022	$	4.8
2023	9.7
2024	7.2
2025	4.3
2026	4.0
Thereafter	27.2
Total	$	57.2