Goodwill and intangible assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

Goodwill and intangible assets

Goodwill

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

	Total		DWS		CA&I		ECS		Other
Balance at December 31, 2020	$	108.6	$	—	$	—	$	98.3	$	10.3
Acquisitions (i)	206.3		140.8		65.5		—		—
Translation adjustments	0.1		0.1		—		—		—
Balance at December 31, 2021	315.0		140.9		65.5		98.3		10.3
Acquisition - Measurement period adjustments (ii)	(27.5)		—		(27.5)		—		—
Translation adjustments	(0.4)		(0.4)		—		—		—
Balance at December 31, 2022	$	287.1	$	140.5	$	38.0	$	98.3	$	10.3

(i) During 2021, the company acquired Unify Square and Mobinergy resulting in goodwill of $132.9 million and $7.9 million, respectively, recorded in the company’s DWS segment and CompuGain resulting in goodwill of $65.5 million recorded in the company’s CA&I segment. See Note 4, “Acquisitions.”

(ii) During 2022, the company finalized its valuation of assets and liabilities assumed in the CompuGain acquisition resulting in measurement period adjustments that decreased goodwill by $27.5 million. See Note 4, “Acquisitions.”

At December 31, 2021, the amount of goodwill allocated to reporting units with negative net assets within Other was $10.3 million. At December 31, 2022, there was no goodwill allocated to reporting units with negative net assets.

Intangible Assets, Net

Intangible assets, net at December 31, 2022 and 2021 consists of the following:

As of December 31, 2022	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology (i)	$	10.0	$	4.9	$	5.1
Customer relationships (ii) (iii)	54.2		7.9		46.3
Marketing (iii)	1.3		0.3		1.0
Total	$	65.5	$	13.1	$	52.4

As of December 31, 2021	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology (iii)	$	10.0	$	1.8	$	8.2
Customer relationships (iii)	27.0		1.2		25.8
Marketing (iii)	0.9		—		0.9
Total	$	37.9	$	3.0	$	34.9

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

(ii) During 2022, the company finalized its valuation of assets and liabilities assumed in the CompuGain acquisition resulting in measurement period adjustments that increased the fair value of the acquired intangible assets by $27.6 million. See Note 4, “Acquisitions.”

(iii) Amortization expense is included within selling, general and administrative expense in the consolidated statements of income (loss).

Amortization expense was $10.1 million and $3.0 million for the year ended December 31, 2022 and 2021, respectively.

The future amortization relating to acquired intangible assets at December 31, 2022 was estimated as follows:

Year	Future Amortization Expense
2023	$	9.6
2024	7.2
2025	4.3
2026	4.0
2027	4.0
Thereafter	23.3
Total	$	52.4