TransUnion
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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7 Intangible Assets
- Intangible Assets
Intangible assets consisted of the following:
| December 31, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| Gross | AccumulatedAmortization | Net | Gross | AccumulatedAmortization | Net | |
| Customer relationships | $2,055.0 | $(561.7) | $1,493.3 | $2,060.2 | $(451.6) | $1,608.6 |
| Internal use software | 1,589.1 | (653.0) | 936.2 | 2,204.5 | (1,239.7) | 964.8 |
| Database and credit files | 1,339.8 | (896.6) | 443.2 | 1,372.2 | (829.2) | 543.0 |
| Trademarks, copyrights and patents | 566.7 | (183.0) | 383.7 | 587.7 | (188.8) | 398.9 |
| Noncompete and other agreements | 1.3 | (0.2) | 1.1 | 10.5 | (10.5) | — |
| Total intangible assets | $5,551.9 | $(2,294.5) | $3,257.5 | $6,235.1 | $(2,719.8) | $3,515.3 |
Changes in the carrying amount of intangible assets between periods consisted of the following:
| Gross | Accumulated Amortization | Net | |
|---|---|---|---|
| Balance, December 31, 2023 | $6,235.1 | $(2,719.8) | $3,515.3 |
| Developed internal use software | 202.1 | — | 202.1 |
| Acquired intangible assets | 5.7 | — | 5.7 |
| Amortization | — | (448.8) | (448.8) |
| Disposals and retirements | (855.2) | 855.2 | — |
| Foreign exchange rate adjustment | (35.9) | 19.0 | (16.9) |
| Balance, December 31, 2024 | $5,551.9 | $(2,294.5) | $3,257.5 |
During 2024, fully amortized intangible assets were written off from the gross and accumulated amortization presented in the table above. The weighted average lives of our intangibles is approximately 15 years as of December 31, 2024.
Amortization expense related to intangible assets for the years ended December 31, 2024, 2023 and 2022, was $448.8 million, $427.8 million and $413.1 million, respectively. Estimated future amortization expense related to intangible assets at December 31, 2024 is as follows:
| AnnualAmortizationExpense | |
|---|---|
| 2025 | $458.2 |
| 2026 | 431.5 |
| 2027 | 366.3 |
| 2028 | 302.9 |
| 2029 | 251.6 |
| Thereafter | 1,447.0 |
| Total future amortization expense | $3,257.5 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.