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Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill in Total and by Reportable Segment

The following table summarizes the changes in the carrying amount of goodwill in total and by reportable segment for the three months ended March 31, 2025:

 

Material
Handling

 

 

Construction
Equipment

 

 

Master Distribution

 

 

Total

 

Balance, December 31, 2024

$

14.7

 

 

$

44.5

 

 

$

18.3

 

 

$

77.5

 

Additions

 

0.5

 

 

 

 

 

 

 

 

 

0.5

 

Balance, March 31, 2025

$

15.2

 

 

$

44.5

 

 

$

18.3

 

 

$

78.0

 

Schedule of Gross Carrying Amount of Intangible Assets and Accumulated Amortization

The gross carrying amount of intangible assets and accumulated amortization as of March 31, 2025 and December 31, 2024 were as follows:

 

March 31, 2025

 

 

Weighted Average Remaining Life (in years)

 

 

Gross carrying
amount

 

 

Accumulated
amortization

 

 

Net carrying
amount

 

Customer and supplier relationships

 

6.4

 

 

$

72.4

 

 

$

(26.1

)

 

$

46.3

 

Other intangibles

 

2.8

 

 

 

14.3

 

 

 

(8.4

)

 

 

5.9

 

Total

 

5.9

 

 

$

86.7

 

 

$

(34.5

)

 

$

52.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

Weighted Average Remaining Life (in years)

 

 

Gross carrying
amount

 

 

Accumulated
amortization

 

 

Net carrying
amount

 

Customer and supplier relationships

 

6.6

 

 

$

72.4

 

 

$

(24.3

)

 

$

48.1

 

Other intangibles

 

3.0

 

 

 

14.3

 

 

 

(7.7

)

 

 

6.6

 

Total

 

6.1

 

 

$

86.7

 

 

$

(32.0

)

 

$

54.7