XML 53 R40.htm IDEA: XBRL DOCUMENT v3.22.0.1
Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in goodwill by reportable segment

The changes in carrying amount of goodwill for the years ended December 31, 2021 and 2020 are as follows:

 

 

Americas - Manufacturing

 

 

Americas - Distribution

 

 

MEAP

 

 

Consolidated

 

Balance as of January 1, 2020

 

$

166.5

 

 

$

 

 

$

66.0

 

 

$

232.5

 

Foreign currency impact

 

 

 

 

 

 

 

 

2.6

 

 

 

2.6

 

Net balance as of December 31, 2020

 

 

166.5

 

 

 

 

 

 

68.6

 

 

 

235.1

 

Foreign currency impact

 

 

 

 

 

 

 

 

(0.5

)

 

 

(0.5

)

Acquisitions

 

 

 

 

 

15.1

 

 

 

 

 

 

15.1

 

Net balance as of December 31, 2021

 

$

166.5

 

 

$

15.1

 

 

$

68.1

 

 

$

249.7

 

Gross carrying amount and accumulated amortization of the company's intangible assets other than goodwill

The gross carrying amount, accumulated amortization and net book value of the Company’s intangible assets other than goodwill as of December 31, 2021 and 2020 are summarized as follows:

 

 

December 31, 2021

 

 

December 31, 2020

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization
Amount

 

 

Net
Book
Value

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization
Amount

 

 

Net
Book
Value

 

Definite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

27.0

 

 

$

(9.0

)

 

$

18.0

 

 

$

9.9

 

 

$

(8.6

)

 

$

1.3

 

Patents

 

 

29.7

 

 

 

(29.1

)

 

 

0.6

 

 

 

31.0

 

 

 

(30.3

)

 

 

0.7

 

Noncompetition agreements

 

 

4.2

 

 

 

(0.4

)

 

 

3.8

 

 

 

 

 

 

 

 

 

 

Trademarks and tradenames

 

 

2.2

 

 

 

(0.1

)

 

 

2.1

 

 

 

 

 

 

 

 

 

 

Other intangibles

 

 

0.6

 

 

 

(0.2

)

 

 

0.4

 

 

 

 

 

 

 

 

 

 

Total

 

 

63.7

 

 

 

(38.8

)

 

 

24.9

 

 

 

40.9

 

 

 

(38.9

)

 

 

2.0

 

Indefinite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and tradenames

 

 

95.9

 

 

 

 

 

 

95.9

 

 

 

100.0

 

 

 

 

 

 

100.0

 

Distribution network

 

 

18.8

 

 

 

 

 

 

18.8

 

 

 

19.6

 

 

 

 

 

 

19.6

 

Total

 

 

114.7

 

 

 

 

 

 

114.7

 

 

 

119.6

 

 

 

 

 

 

119.6

 

Total other intangible assets

 

$

178.4

 

 

$

(38.8

)

 

$

139.6

 

 

$

160.5

 

 

$

(38.9

)

 

$

121.6

 

 

Estimated Amortization Expense

Excluding the impact of any future acquisitions, divestitures or impairments, the Company's anticipated future amortization of intangible assets as of December 31, 2021 is as follows:

Year

 

 

 

2022

 

$

3.3

 

2023

 

 

2.9

 

2024

 

 

2.9

 

2025

 

 

2.9

 

2026

 

 

2.7

 

Thereafter

 

 

10.1

 

Total

 

$

24.8