Assets with high value but no physical presence are referred to as "intangible assets" and they offer long-term financial worth to a business. The company's identifiable intangible assets are those that can be sold independently, separated from other assets, and valued. Intellectual property, like as patents, trademarks, and copyrights, as well as non-cash government grants, such as broadcasting licenses or airport landing rights, are examples of identifiable intangible assets. A trademark is a sign that can be used to separate one company's products or services from those of other businesses. Trademarks are protected under intellectual property laws. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Ceridian HCM Holding’s gross value of intangible assets surged from $566.2 million in FY2020 to $726.7 million in FY2021, a growth of 28.34%. In FY2021, the company's net value of intangible assets was $332.5 million. Customer lists and relationships, Trade name and Technology amounted to $308.4 million, $184.4 million and $233.9 million respectively, based on the company's calculation of the fair value of identified intangible assets in FY2021. The company's amortization expense for intangible assets was $23.9 million in FY2021.
The company's total assets increased by $464.9 million, from $6,701 billion in FY2020 to $7,166 billion in FY2021. The increase is primarily the result of an increase in goodwill of $291.8 million and a growth of $137.5 million in intangible assets. The total revenue for FY2021 was $1,024.2 million, increasing $181.7 million or 21.56% from the $842.5 million in FY2020.
Its Dayforce platform had a total of 5,434 live Dayforce customers, these customers resulted in a total of 5.1 million active global users on the Dayforce platform as of FY2021.
Ceridian is a human capital management (HCM) software company. Dayforce, its flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management capabilities in a single solution. Its platform helps in managing the entire employee lifecycle, from recruiting and onboarding, to paying people and developing their careers. Ceridian provides solutions for organizations of all sizes, from small businesses to global organizations.
Note: a customer is defined as a single organization, such as a company, a non-profit association, an educational institution, or a government entity
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