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Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in goodwill by reportable segment

The changes in the carrying amount of goodwill as of March 31, 2022 and December 31, 2021 are summarized as follows:

 

 

 

Americas - Manufacturing

 

 

Americas - Distribution

 

 

MEAP

 

 

Consolidated

 

Balance as of January 1, 2021

 

$

166.5

 

 

$

 

 

$

68.6

 

 

$

235.1

 

Foreign currency impact

 

 

 

 

 

 

 

 

(0.5

)

 

 

(0.5

)

Acquisitions

 

 

 

 

 

15.1

 

 

 

 

 

 

15.1

 

Balance as of December 31, 2021

 

 

166.5

 

 

 

15.1

 

 

 

68.1

 

 

 

249.7

 

Purchase accounting adjustments

 

 

 

 

 

0.4

 

 

 

 

 

 

0.4

 

Foreign currency impact

 

 

 

 

 

 

 

 

0.5

 

 

 

0.5

 

Balance as of March 31, 2022

 

$

166.5

 

 

$

15.5

 

 

$

68.6

 

 

$

250.6

 

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 March 31, 2022 and December 31, 2021 are summarized as follows:

 

 

 

March 31, 2022

 

 

December 31, 2021

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization
Amount

 

 

Net
Book
Value

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization
Amount

 

 

Net
Book
Value

 

Definite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

26.9

 

 

 

(9.3

)

 

 

17.6

 

 

 

27.0

 

 

 

(9.0

)

 

 

18.0

 

Patents

 

 

29.2

 

 

 

(28.6

)

 

 

0.6

 

 

 

29.7

 

 

 

(29.1

)

 

 

0.6

 

Noncompetition agreements

 

 

4.2

 

 

 

(0.6

)

 

 

3.6

 

 

 

4.2

 

 

 

(0.4

)

 

 

3.8

 

Trademarks and tradenames

 

 

2.2

 

 

 

(0.3

)

 

 

1.9

 

 

 

2.2

 

 

 

(0.1

)

 

 

2.1

 

Other intangibles

 

 

0.6

 

 

 

(0.3

)

 

 

0.3

 

 

 

0.6

 

 

 

(0.2

)

 

 

0.4

 

Total

 

$

63.1

 

 

$

(39.1

)

 

$

24.0

 

 

$

63.7

 

 

$

(38.8

)

 

$

24.9

 

Indefinite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and tradenames

 

 

94.3

 

 

 

 

 

 

94.3

 

 

 

95.9

 

 

 

 

 

 

95.9

 

Distribution network

 

 

18.6

 

 

 

 

 

 

18.6

 

 

 

18.8

 

 

 

 

 

 

18.8

 

Total

 

 

112.9

 

 

 

 

 

 

112.9

 

 

 

114.7

 

 

 

 

 

 

114.7

 

Total other intangible assets

 

$

176.0

 

 

$

(39.1

)

 

$

136.9

 

 

$

178.4

 

 

$

(38.8

)

 

$

139.6