Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

(a)    Goodwill

    The carrying amounts of goodwill as of June 30, 2024 and December 31, 2023 by reportable segment are as follows (in millions):

	As of June 30, 2024
	KGS		US		Total
Gross value	$	683.6	$	138.6	$	822.2
Less accumulated impairment	239.5		13.8		253.3
Net	$	444.1	$	124.8	$	568.9

	As of December 31, 2023
	KGS		US		Total
Gross value	$	683.6	$	138.8	822.4
Less accumulated impairment	239.5		13.8		253.3
Net	$	444.1	$	125.0	$	569.1

(b)    Purchased Intangible Assets

The following table sets forth information for finite-lived and indefinite-lived intangible assets (in millions): 

	As of June 30, 2024						As of December 31, 2023
	Gross Value		Accumulated Amortization		Net Value		Gross Value		Accumulated Amortization		Net Value
Acquired finite-lived intangible assets:
Customer relationships	$	80.9	$	(64.0)	$	16.9	$	80.9	$	(62.8)	$	18.1
Contracts and backlog	53.1		(41.0)		12.1		53.1		(38.8)		14.3
Developed technology and technical know-how	33.7		(28.8)		4.9		33.7		(28.2)		5.5
Trade names	3.8		(2.9)		0.9		3.8		(2.7)		1.1
In-process research and development	16.8		(0.4)		16.4		16.8		(0.3)		16.5
Total finite-lived intangible assets	188.3		(137.1)		51.2		188.3		(132.8)		55.5
Indefinite-lived trade names	6.9		—		6.9		6.9		—		6.9
Total intangible assets	$	195.2	$	(137.1)	$	58.1	$	195.2	$	(132.8)	$	62.4

Consolidated amortization expense related to intangible assets subject to amortization was $2.2 million and $1.4 million for the three months ended June 30, 2024 and June 25, 2023, respectively, and $4.3 million and $3.0 million for the six months ended June 30, 2024 and June 25, 2023, respectively.

The estimated future amortization expense of acquired intangible assets with finite lives as of June 30, 2024 is as follows (in millions):

	Amount
2024	$	4.2
2025	8.9
2026	9.1
2027	7.4
2028	4.5
Thereafter	17.1
Total	$	51.2