Goodwill and Acquired Intangible Assets |
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| Intangible Asset, Goodwill and Other [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Acquired Intangible Assets | GOODWILL AND ACQUIRED INTANGIBLE ASSETS Goodwill The following table presents the changes in goodwill by business segment during the six months ended June 30, 2026:
Goodwill represents the excess of purchase price over the value assigned to the net assets, including identifiable intangible assets, of a business acquired. Goodwill is allocated to our reporting units based on the assignment of the fair values of each reporting unit of the acquired company. We test goodwill for impairment at the reporting unit level annually, or in interim periods if certain events occur indicating that the carrying amount may be impaired, such as changes in the business climate, poor indicators of operating performance or the sale or disposition of a significant portion of a reporting unit. There was no impairment of goodwill or indefinite-lived intangibles for the three and six months ended June 30, 2026 and 2025; however, events such as prolonged economic weakness or unexpected significant declines in operating results of any of our reporting units or businesses may result in goodwill impairment charges in the future. Acquired Intangible Assets The following table presents details of our total acquired intangible assets, both finite- and indefinite-lived:
In connection with the wind-down of our Nordic power futures business during the second quarter of 2026, we recognized a $20 million impairment primarily related to customer relationships and licenses. There was no other material impairment of intangible assets for the three and six months ended June 30, 2026 and 2025. The following tables present our amortization expense for acquired finite-lived intangible assets:
The table below presents the estimated future amortization expense (excluding the impact of foreign currency translation adjustments of $46 million as of June 30, 2026) of acquired finite-lived intangible assets as of June 30, 2026:
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