Goodwill and Intangible Assets, net

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, net

Goodwill and Intangible Assets, net

Goodwill

The following table shows our goodwill balances by operating segment that are aggregated into one reportable segment:

	North America		Europe/Asia		Total
Balance at December 31, 2023	$	338.8	$	111.3	$	450.1
Currency translation	—		(3.3)		(3.3)
Balance at June 30, 2024	$	338.8	$	108.0	$	446.8

Intangible Assets, net

Finite-lived or amortizable intangible assets consist of patented and unpatented technology, customer/distributor relationships, and other intellectual property.

The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives:

	June 30, 2024
	Remaining Weighted-Average Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net
Customer/distributor relationships	10	$	195.6	$	(66.1)	$	129.5
Patented/unpatented technology	6	171.6		(78.8)		92.8
Intellectual property	7	0.5		(0.3)		0.2
Total definite-lived intangible assets	8	367.7		(145.2)		222.5
Trademarks/tradenames with indefinite lives		106.2		—		106.2
Identifiable intangible assets, net		$	473.9	$	(145.2)	$	328.7

	December 31, 2023
	Remaining Weighted-Average Useful Life (Years)	Gross Carrying Amount		Accumulated Amortization		Net
Customer/distributor relationships	10	$	198.8	$	(60.6)	$	138.2
Patented/unpatented technology	7	171.7		(70.9)		100.8
Intellectual property	7	0.5		(0.3)		0.2
Total definite-lived intangible assets	9	371.0		(131.8)		239.2
Trademarks/tradenames with indefinite lives		106.2		—		106.2
Identifiable intangible assets, net		$	477.2	$	(131.8)	$	345.4

The following table shows the remaining estimated amortization expense for our definite-lived intangible assets at June 30, 2024:

Year	Amount
2024	$	14.6
2025	28.4
2026	28.1
2027	27.9
2028	27.9
Thereafter	95.6
	$	222.5

Amortization expense was $7.3 million and $7.3 million in the second quarter of 2024 and 2023, respectively, and $14.5 million and $14.5 million in the six months ended June 30, 2024 and 2023, respectively.