Company: ADP
Filing Date: 2025-01-30
Form Type: 10-Q
Source: 0000008670-25-000007
Chunk: 98

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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1 Less: Imputed interest(36.2)Net lease obligations$394.9 

Note 9. Goodwill and Intangible Assets, net

Changes in goodwill for the six months ended December 31, 2024 are as follows:  EmployerServicesPEOServicesTotalBalance at June 30, 2024$2,348.8 $4.8 $2,353.6 Additions and other adjustments846.4 — 846.4 Currency translation adjustments(16.1)— (16.1)Balance at December 31, 2024$3,179.1 $4.8 $3,183.9 Components of intangible assets, net, are as follows:December 31,June 30,20242024Intangible assets:  Software and software licenses$4,098.6 $3,803.7 Customer contracts and lists1,420.0 1,181.6 Other intangibles249.3 242.0  5,767.9 5,227.3 Less accumulated amortization:  Software and software licenses(2,743.5)(2,642.6)Customer contracts and lists(1,042.9)(1,007.6)Other intangibles(242.4)(241.1) (4,028.8)(3,891.3)Intangible assets, net$1,739.1 $1,336.0 Other intangibles consist primarily of purchased rights, trademarks and trade names (acquired directly or through acquisitions). All intangible assets have finite lives and, as such, are subject to amortization. The weighted average remaining useful life of the intangible assets is 6 years (6 years for software and software licenses, 5 years for customer contracts and lists, and 4 years for other intangibles). Amortization of intangible assets was $100.7 million and $94.5 million for the three months ended December 31, 2024 and 2023, respectively, and $189.7 million and $190.2 million for the six months ended December 31, 2024 and 2023, respectively.

16

Estimated future amortization expenses of the Company's existing intangible assets are as follows: AmountSix months ending June 30, 2025$253.2 Tw