Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill by reportable segment were as follows:

($ in millions)	Proprietary Products		Contract-Manufactured Products		Total
Balance, December 31, 2022	$	77.9	$	29.4	$	107.3
Foreign currency translation	1.0		0.2		1.2
Balance, December 31, 2023	78.9		29.6		108.5
Foreign currency translation	(2.1)		(0.4)		(2.5)
Balance, December 31, 2024	$	76.8	$	29.2	$	106.0

As of December 31, 2024, we had $0.1 million of accumulated goodwill impairment losses.

Intangible assets and accumulated amortization as of December 31 were as follows:

	2024						2023
($ in millions)	Cost		Accumulated amortization		Net		Cost		Accumulated amortization		Net
Patents and licensing	$	24.7	$	(23.0)	$	1.7	$	24.8	$	(21.8)	$	3.0
Technology	3.3		(2.7)		0.6		3.3		(2.5)		0.8
Trademarks	1.2		(1.2)		—		1.2		(1.2)		—
Customer relationships	38.9		(30.8)		8.1		39.5		(29.0)		10.5
Customer contracts	8.0		(7.6)		0.4		8.0		(7.2)		0.8
	$	76.1	$	(65.3)	$	10.8	$	76.8	$	(61.7)	$	15.1

The cost basis of intangible assets includes a foreign currency translation loss of $0.7 million and $0.1 million for the years ended December 31, 2024 and 2023, respectively. Amortization expense for the years ended December 31, 2024, 2023 and 2022 was $3.6 million, $3.6 million and $3.7 million, respectively. Estimated annual amortization expense for the next five years is as follows: 2025 - $2.8 million, 2026 - $2.5 million, 2027 - $2.3 million, 2028 - $1.7 million and 2029 - $0.9 million.