Additions (adjustments)

  
performance to peer companies, based on several measures, including price to trailing 12-month earnings, price to projected earnings, price to tangible net worth and return on equity.A Guideline Transaction Method was not used in the valuations due to the impact of COVID-19 on the markets in 2020 and the absence of sufficient observable transactions post COVID-19.While DDM and Guideline Company valuation methodologies were considered in assessing fair value, the DDM was weighted more heavily since management believes that expected cash flows are the most important factor in the valuation of a business enterprise, and also considering the lack of directly-comparable peer companies. Based on the quantitative assessment performed as of October 1, 2021, the Company concluded that the estimated fair values of each reporting unit exceeded their respective book values and therefore determined that goodwill was not impaired.A roll forward of goodwill by reportable segment is provided below as of and for the years indicated: 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Global Lifestyle (1) |  | Global Housing |  |  |  | Consolidated |
| Balance at December 31, 2019 (2) | $ | 1,825.9  |  |  | $ | 379.5  |  |  |  |  | $ | 2,205.4  |  |
| Acquisitions (3) | 374.6  |  |  | —  |  |  |  |  | 374.6  |  |
|  |  |  |  |  |  |  |  |
| Foreign currency translation and other | 9.3  |  |  | —  |  |  |  |  | 9.3  |  |
| Balance at December 31, 2020 (2) | 2,209.8  |  |  | 379.5  |  |  |  |  | 2,589.3  |  |
| Acquisitions (3) | (10.4) |  |  | —  |  |  |  |  | (10.4) |  |
|  |  |  |  |  |  |  |  |
| Foreign currency translation and other | (7.3) |  |  | —  |  |  |  |  | (7.3) |  |
| Balance at December 31, 2021 (2) | $ | 2,192.1  |  |  | $ | 379.5  |  |  |  |  | $ | 2,571.6  |  |

  
(1)As of December 31, 2021, $698.7 million, $1,420.5 million and $72.9 million of goodwill was assigned to the Connected Living, Global Automotive and Global Financial Services and Other reporting unit, respectively. As of December 31, 2020, $715.2 million, $1,421.3 million and $73.3 million of goodwill was assigned to the Connected Living, Global Automotive and Global Financial Services and Other reporting unit, respectively. (2)Consolidated goodwill reflects 1,405.9 million of accumulated impairment losses at December 31, 2021 and 2020, respectively, and $1,268.1 million of accumulated impairment losses at December 31, 2019. (3)Includes goodwill from the HYLA and AFAS acquisitions (refer to Note 3), as well as goodwill from several less significant transactions. The change during the year ended December 31, 2021, includes the application of measurement period adjustments, mainly related to the HYLA acquisition.   
16. VOBA and Other Intangible Assets VOBAInformation about VOBA is as follows for the periods indicated: 

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Years Ended December 31, |
|   | 2021 |  | 2020 |  | 2019 |
| Beginning balance | $ | 1,152.2  |  |  | $ | 1,993.7  |  |  | $ | 3,140.8  |  |
| Additions (adjustments) | —  |  |  | —  |  |  | (4.0) |  |
| Amortization, net of interest accrued | (567.9) |  |  | (835.7) |  |  | (1,121.0) |  |
| Foreign currency translation and other | (0.9) |  |  | (5.8) |  |  | (22.1) |  |
| Ending balance | $ | 583.4  |  |  | $ | 1,152.2  |  |  | $ | 1,993.7  |  |

As of December 31, 2021, the outstanding VOBA balance is related to the 2018 acquisition of TWG within the Global Lifestyle segment. As of December 31, 2021, the estimated amortization of VOBA for the next five years and thereafter is as follows: 

|  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
| Year | Amount |
| 2022 | $ | 322.5  |  |
| 2023 | 177.8  |  |
| 2024 | 76.2  |  |
| 2025 | 3.3  |  |
| 2026 | 1.4  |  |
| Thereafter | 2.2  |  |
| Total | $ | 583.4  |  |

F-49
