Former Hollywood power couple Jessica Simpson and Nick Lachey have reached an agreement on splitting up their financial assets, a report says.

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Celebrity Web site TMZ.com said the pair, who officially divorced last June, agreed that Lachey will get "significantly" more than the $1.5 million that Simpson initially offered, but less than the $18 million he had asked for in the settlement. The pair said they decided to settle between themselves rather than risk an ugly court battle

TMZ said it had obtained the documents filed in Los Angeles County Superior Court that were signed by Simpson and Lachey signaling that their financial dispute was settled.

Simpson and Lachey once peddled a book on secrets to a happy and sexy marriage, and starred in MTV's reality series "Newlyweds."

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