Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Note 9. Other Intangible Assets

The following table analyzes other intangible assets movement for 2023 and 2022.


(in millions)	2023			2022
Gross cost at January 1	$	291.1		$	295.2
Additions		22.4			2.7
Written down in the year		—			(4.1	)
Exchange effect		1.6			(2.7	)
Gross cost at December 31		315.1			291.1
Accumulated amortization at January 1		(246.1	)		(237.7	)
Amortization expense		(10.6	)		(14.0	)
Written down in the year		—			4.1
Exchange effect		(1.1	)		1.5
Accumulated amortization at December 31		(257.8	)		(246.1	)
Net book amount at December 31	$	57.3		$	45.0

Amortization expense

The amortization expense was $10.6 million, $14.0 million and $16.0 million in 2023, 2022 and 2021, respectively. Excluding the impact of foreign exchange translation on the balance sheet, $2.3 million, $2.3 million and $2.3 million of amortization, respectively, was recognized in cost of goods sold, and the remainder was recognized in selling, general and administrative expenses.

In 2023, we capitalized $15.1 million (2022 - $2.7 million) in relation to our internally developed software for a new Enterprise Resource Planning (“ERP”) system covering our EMEA and ASPAC regions. The expenses capitalized include the acquisition costs for the software as well as the external and internal costs of the development. The additional completion costs are currently expected to be approximately $8.9 million. A timescale and plan for the further implementation of the new ERP system into our other regions has not yet been fully determined at this time.

In 2023, we capitalized $7.3 million in relation to the acquisition of QGP. See Note 5 of the Notes to the Consolidated Financial Statements for further details.

Other intangible assets at December 31, 2023 were:


(in millions)	Gross carrying amount		Accumulated amortization
Product rights	$	34.0	$	(34.0	)
Brand names		8.9		(8.4	)
Technology		55.1		(42.3	)
Customer relationships		131.6		(105.4	)
Internally developed software		60.5		(42.7	)
Other		25.0		(25.0	)
	$	315.1	$	(257.8	)

Other intangible assets at December 31, 2022 were:


(in millions)	Gross carrying amount		Accumulated amortization
Product rights	$	34.0	$	(34.0	)
Brand names		8.9		(7.8	)
Technology		55.1		(40.0	)
Customer relationships		122.9		(96.9	)
Internally developed software		45.2		(42.4	)
Other		25.0		(25.0	)
	$	291.1	$	(246.1	)

Future amortization expense is estimated to be as follows for the next five years:


(in millions)
2024	$	11.8
2025	$	10.2
2026	$	10.0
2027	$	6.5
2028	$	6.1