Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The carrying value of goodwill by segment was as follows:


	Application Software		Network Software		Technology Enabled Products		Total
Balances at December 31, 2022	$	11,417.5	$	3,598.3	$	930.3	$	15,946.1
Goodwill acquired	1,137.8		—		—		1,137.8

Other	(44.5)		—		—		(44.5)
Currency translation adjustments	2.6		5.5		0.1		8.2
Balances at September 30, 2023	$	12,513.4	$	3,603.8	$	930.4	$	17,047.6

Other relates to purchase accounting adjustments for acquisitions completed in 2022 and is composed primarily of a measurement period adjustment of $43.0 to decrease goodwill and deferred tax liabilities in connection with the Frontline opening balance sheet.

Other intangible assets were comprised of:


	Cost		Accumulated amortization		Net book value
Assets subject to amortization:
Customer related intangibles	$	9,300.7	$	(2,437.7)	$	6,863.0
Unpatented technology	954.6		(506.9)		447.7
Software	149.0		(134.0)		15.0
Patents and other protective rights	10.3		(1.2)		9.1
Trade names	9.7		(3.1)		6.6
Assets not subject to amortization:
Trade names	689.3		—		689.3

Balances at December 31, 2022	$	11,113.6	$	(3,082.9)	$	8,030.7

Assets subject to amortization:
Customer related intangibles	$	10,014.5	$	(2,850.3)	$	7,164.2
Unpatented technology	1,040.8		(603.1)		437.7
Software	149.0		(140.9)		8.1
Patents and other protective rights	10.3		(1.4)		8.9
Trade names	9.7		(5.2)		4.5
Assets not subject to amortization:
Trade names	720.2		—		720.2

Balances at September 30, 2023	$	11,944.5	$	(3,600.9)	$	8,343.6

Amortization expense of other intangible assets was $176.7 and $143.8 during the three months ended September 30, 2023 and 2022, respectively, and $517.6 and $429.7 during the nine months ended September 30, 2023 and 2022, respectively.

An evaluation of the carrying value of goodwill and indefinite-lived intangibles is required to be performed on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. There have been no events or changes in circumstances which indicate an interim impairment review is required in 2023. The Company will perform the annual analysis during the fourth quarter of 2023.