Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Fair Values of Assets Acquired and Liabilities Assumed

A summary of the fair values of the assets acquired and liabilities assumed in this acquisition is as follows:



(in millions)	Fair Value
Accounts receivable	$	16
Finite-lived intangible assets:
Customer relationships⁽¹⁾		270
Other		17
Goodwill		776
Deferred income tax liabilities		(16	)
Other liabilities assumed		(12	)
Total consideration, net of cash acquired	$	1,051

Summary of consideration, net of cash acquired:
Cash paid	$	1,055
Cash acquired		(4	)
Total consideration, net of cash acquired	$	1,051

⁽¹⁾	The fair value was determined based on the excess earnings method (a Level 3 input), has a weighted-average estimated useful life of approximately ten years and is amortized using an accelerated amortization method.

Summary of Finite Lived Intangible Assets Weighted Average Remaining Useful Life of Remaining amortization Expense

The finite-lived intangible assets had a weighted-average remaining useful life of approximately nine years with remaining amortization expense as follows:

(in millions)
Year	Amount
2022	$	40
2023		38
2024		32
2025		29
2026		26
Thereafter		85
Total	$	250

Estimated amortization expense for finite-lived intangible assets for each of the five succeeding years is as follows:

(in millions)
Year	Amount
2022	$	150
2023		142
2024		131
2025		123
2026		116