Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 7 — GOODWILL AND OTHER INTANGIBLE ASSETS

The following table summarizes the changes in the carrying amount of goodwill in total and by reportable segment for the six months ended June 30, 2025:

	Material Handling		Construction Equipment		Master Distribution		Total
Balance, December 31, 2024	$	14.7	$	44.5	$	18.3	$	77.5
Additions		0.6		—		—		0.6
Translation adjustments		0.2		0.3		—		0.5
Balance, June 30, 2025	$	15.5	$	44.8	$	18.3	$	78.6

Goodwill is tested for impairment by reporting unit annually or more frequently if events or circumstances indicate that an impairment may exist. There were no indicators of potential impairment during the three and six months ended June 30, 2025. See Note 15, Business Combinations and Divestitures, for further information.

The gross carrying amount and accumulated amortization of intangible assets as of June 30, 2025 and December 31, 2024 were as follows:

	June 30, 2025
	Weighted Average Remaining Life (in years)		Gross carrying amount		Accumulated amortization			Net carrying amount
Customer and supplier relationships		6.1	$	72.8	$	(28.0	)	$	44.8
Other intangibles		2.6		14.5		(9.0	)		5.5
Total		5.7	$	87.3	$	(37.0	)	$	50.3
	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

Amortization of intangible assets was $2.5 million and $2.6 million for the three months ended June 30, 2025 and 2024, respectively, and $5.0 million and $5.2 million for the six months ended June 30, 2025 and 2024, respectively.