Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS AND INVESTMENTS (Tables)

v3.22.4
ACQUISITIONS AND INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Estimated Fair Value of Net Assets Acquired and Liabilities Assumed at Acquisition Dates The following table summarizes the estimated fair value of the net assets acquired and the liabilities assumed at the acquisition dates during 2022 and 2021.
  December 31,
  2022 2021
  (In millions)
Cash $ 10.8  $ 5.2 
Accounts receivable and other current assets 5.9  43.1 
Other assets 6.0  26.6 
Identifiable intangible assets (1)
187.4  1,094.1 
Goodwill (2)
283.9  1,842.7 
Total assets acquired 494.0  3,011.7 
Other current liabilities (22.6) (27.2)
Other liabilities (26.8) (43.7)
Net assets acquired $ 444.6  $ 2,940.8 
 
(1)Identifiable intangible assets are further disaggregated in the following table.
(2)The goodwill related to the 2022 acquisitions was recognized in the Workforce Solutions, USIS, and International operating segments. $201.7 million of goodwill related to the 2022 acquisitions was tax deductible, which excludes goodwill related to Data Crédito within International and a portion of goodwill related to Midigator within USIS. The goodwill related to the 2021 acquisitions were recognized in the Workforce Solutions, USIS and International operating segments. $1.4 billion of goodwill related to 2021 acquisitions was tax deductible, which excludes goodwill related to Kount within USIS and AccountScore within International.
Acquired Intangible Assets Fair Value and Weighted-Average Useful Life The primary reasons the purchase price of these acquisitions exceeded the fair value of the net assets acquired, which resulted in the recognition of goodwill, were expanded growth opportunities from new or enhanced product offerings and geographies, cost savings from the elimination of duplicative activities and the acquisition of an assembled workforce that are not recognized as assets apart from goodwill.
December 31,
2022 2021
Intangible asset category Fair value Weighted-average useful life Fair value Weighted-average useful life
  (in millions) (in years) (in millions) (in years)
Proprietary database $ —  0.0 $ 562.3  14.5
Purchased data files 14.9  15.0 207.0  15.0
Customer relationships 89.5  10.0 160.7  10.0
Acquired software and technology 74.8  6.6 146.3  6.0
Trade names and other intangible assets 4.5  2.0 11.3  2.0
Non-compete agreements 3.7  7.9 6.5  4.5
Total acquired intangibles $ 187.4  8.8 $ 1,094.1  12.6