Components of intangible assets, net, are as follows: Other intangibles consist primarily of purchased rights, purchased content, 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 (5 years for software and software licenses, 6 years for customer contracts and lists, and 5 years for other intangibles). Amortization of intangible assets was $228.4 million, $204.5 million, and $168.8 million for fiscal 2019, 2018, and 2017, respectively. Estimated future amortization expenses of the Company's existing intangible assets are as follows: The Company has a $3.8 billion, 364-day credit agreement that matures in June 2020 with a one year term-out option. The Company also has a $2.75 billion five-year credit facility that matures in June 2024 that also contains an accordion feature under which the aggregate commitment can be increased by $500 million, subject to the availability of additional commitments. In addition, the Company has a five-year $3.75 billion credit facility maturing in June 2023 that contains an accordion feature under which the aggregate commitment can be increased by $500 million, subject to the availability of additional commitments. The interest rate applicable to committed borrowings is tied to LIBOR, the effective federal funds rate, or the prime rate depending on the notification provided by the Company to the syndicated financial institutions prior to borrowing. The Company is also required to pay facility fees on the credit agreements. The primary uses of the credit facilities are to provide liquidity to the commercial paper program and funding for general corporate purposes, if necessary. The Company had no borrowings through June 30, 2019 and 2018 under the credit agreements. The Company's U.S. short-term funding requirements related to client funds are sometimes obtained on an unsecured basis through the issuance of commercial paper, rather than liquidating previously-collected client funds that have already been invested in available-for-sale securities. The Company increased its U.S. short-term commercial paper program to provide for the issuance of up to $10.3 billion from $9.8 billion in aggregate maturity value in June 2019. The Company’s commercial paper program is rated A-1+ by Standard & Poor’s and Prime-1 by Moody’s. These ratings denote the highest quality commercial paper securities. Maturities of commercial paper can range from overnight to up to 364 days. At June 30, 2019 and 2018, the Company had no commercial paper borrowing outstanding. In fiscal 2019 and 2018, the Company's average daily borrowings were $2.8 billion at a weighted average interest rate of 2.2% and 1.4%, respectively. The weighted average maturity of the Company’s commercial paper in fiscal 2019 and 2018 was approximately two days. The Company’s U.S., Canadian and United Kingdom short-term funding requirements related to client funds obligations are sometimes obtained on a secured basis through the use of reverse repurchase agreements, which are collateralized principally NOTE 10. SHORT TERM FINANCING 69 June 30, 2019 2018 Intangible assets: Software and software licenses $ 2,519.3 $ 2,292.9 Customer contracts and lists 860.7 708.6 Other intangibles 237.9 236.5 3,617.9 3,238.0 Less accumulated amortization: Software and software licenses (1,762.3) (1,606.6) Customer contracts and lists (566.4 ) (533.4 ) Other intangibles (217.7) (211.6) (2,546.4 ) (2,351.6 ) Intangible assets, net $ 1,071.5 $ 886.4 Amount Twelve months ending June 30, 2020 $ 275.9 Twelve months ending June 30, 2021 $ 220.1 Twelve months ending June 30, 2022 $ 173.5 Twelve months ending June 30, 2023 $ 139.4 Twelve months ending June 30, 2024 $ 110.2