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SEC Filings

10-Q
WORLDPAY, INC. filed this Form 10-Q on 05/03/2019
Entire Document
 
Worldpay, Inc.
NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS (continued)

As of March 31, 2019 and December 31, 2018, the Company’s finite lived intangible assets consisted of the following (in millions):
 
 
March 31, 2019
 
December 31, 2018
Customer relationship intangible assets
 
$
4,592.1

 
$
4,540.9

Trade name
 
355.9

 
348.8

Customer portfolios and related assets
 
328.0

 
323.8

Patents
 
2.4

 
2.3

 
 
5,278.4

 
5,215.8

Less accumulated amortization on:
 
 
 
 
Customer relationship intangible assets
 
2,048.2

 
1,865.5

Trade name
 
45.4

 
35.5

Customer portfolios and related assets
 
201.3

 
187.0

 
 
2,294.9

 
2,088.0

Intangible assets, net
 
$
2,983.5

 
$
3,127.8



Customer portfolios and related assets acquired during the three months ended March 31, 2019 have weighted-average amortization periods of 3.0 years. Amortization expense on intangible assets for the three months ended March 31, 2019 and 2018 was $197.4 million and $149.8 million, respectively.

The estimated amortization expense of intangible assets for the remainder of 2019 and the next five years is as follows (in millions):
Nine months ended December 31, 2019
 
$
561.9

2020
 
609.4

2021
 
506.5

2022
 
440.5

2023
 
276.6

2024
 
255.4



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