XML 32 R13.htm IDEA: XBRL DOCUMENT v3.25.1
Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Note 6: Goodwill and Other Intangible Assets
The following table summarizes the changes in the carrying amount of goodwill by segment (in millions):
AmericasEMEAAPACTotal
Balance as of December 31, 2024$1,469.2 $309.4 $219.7 $1,998.3 
Acquisitions
— 8.8 — 8.8 
Effect of movements in exchange rates— 11.6 2.1 13.7 
Balance as of March 31, 2025$1,469.2 $329.8 $221.8 $2,020.8 
Portions of goodwill are denominated in currencies other than the U.S. dollar; therefore, a portion of the movements in the reported book value of these balances is attributable to movements in foreign currency exchange rates.
For the three months ended March 31, 2025 and 2024, no impairments of goodwill were recognized as the estimated fair value of each of the identified reporting units was in excess of its carrying value. It is possible that our determination that goodwill for a reporting unit is not impaired could change in the future if current economic conditions or other conditions deteriorate or the operating performance or future prospects for a particular reporting unit declines.
The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions):
As of March 31, 2025
Useful Life
(in years)
Gross ValueAccumulated AmortizationNet Value
C&W trade nameIndefinite$546.0 $— $546.0 
Customer relationships
4 - 15
1,259.7 (1,123.3)136.4 
Total intangible assets$1,805.7 $(1,123.3)$682.4 
As of December 31, 2024
Useful Life
(in years)
Gross ValueAccumulated AmortizationNet Value
C&W trade nameIndefinite$546.0 $— $546.0 
Customer relationships
5 - 15
1,248.9 (1,104.8)144.1 
Other intangible assets
n/a
15.2 (15.2)— 
Total intangible assets$1,810.1 $(1,120.0)$690.1 
Amortization expense was $9.9 million and $13.3 million for the three months ended March 31, 2025 and 2024, respectively.
No impairments of intangible assets were recorded during the three months ended March 31, 2025 and 2024.