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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in goodwill by reportable segment

The changes in the carrying amount of goodwill as of March 31, 2023 and December 31, 2022 are summarized as follows:

 

 

Americas - Distribution

 

 

MEAP

 

 

Consolidated

 

Balance as of December 31, 2022

 

$

14.4

 

 

$

65.7

 

 

$

80.1

 

Foreign currency impact

 

 

 

 

 

(0.2

)

 

 

(0.2

)

Balance as of March 31, 2023

 

$

14.4

 

 

$

65.5

 

 

$

79.9

 

Schedule of Goodwill Balances by Reporting Unit

The gross carrying amount, accumulated impairment and net book value of the Company's goodwill balances by reporting unit are summarized as follows:

 

 

March 31, 2023

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Carrying Amount

 

 

Accumulated Impairment Amount

 

 

Net Book Value

 

 

Gross Carrying Amount

 

 

Accumulated Impairment Amount

 

Net Book Value

 

Americas - Manufacturing

 

$

166.5

 

 

$

(166.5

)

 

$

 

 

$

166.5

 

 

$

(166.5

)

$

 

Americas - Distribution

 

 

14.4

 

 

 

 

 

 

14.4

 

 

 

14.4

 

 

 

 

 

14.4

 

EURAF

 

 

82.2

 

 

 

(82.2

)

 

 

 

 

 

82.2

 

 

 

(82.2

)

 

 

MEAP

 

 

65.5

 

 

 

 

 

 

65.5

 

 

 

65.7

 

 

 

 

 

65.7

 

Total

 

$

328.6

 

 

$

(248.7

)

 

$

79.9

 

 

$

328.8

 

 

$

(248.7

)

$

80.1

 

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, 2023 and December 31, 2022 are summarized as follows:

 

 

March 31, 2023

 

 

December 31, 2022

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization
Amount

 

 

Net
Book
Value

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization
Amount

 

 

Net
Book
Value

 

Definite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

26.5

 

 

$

(10.5

)

 

$

16.0

 

 

$

26.5

 

 

$

(10.0

)

 

$

16.5

 

Patents

 

 

28.9

 

 

 

(28.4

)

 

 

0.5

 

 

 

28.7

 

 

 

(28.2

)

 

 

0.5

 

Noncompetition agreements

 

 

4.2

 

 

 

(1.4

)

 

 

2.8

 

 

 

4.2

 

 

 

(1.2

)

 

 

3.0

 

Trademarks and tradenames

 

 

2.2

 

 

 

(0.7

)

 

 

1.5

 

 

 

2.2

 

 

 

(0.6

)

 

 

1.6

 

Other intangibles

 

 

0.6

 

 

 

(0.6

)

 

 

 

 

 

0.6

 

 

 

(0.5

)

 

 

0.1

 

Total

 

$

62.4

 

 

$

(41.6

)

 

$

20.8

 

 

$

62.2

 

 

$

(40.5

)

 

$

21.7

 

Indefinite lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks and tradenames

 

 

91.7

 

 

 

 

 

 

91.7

 

 

 

91.0

 

 

 

 

 

 

91.0

 

Distribution network

 

 

14.1

 

 

 

 

 

 

14.1

 

 

 

14.0

 

 

 

 

 

 

14.0

 

Total

 

 

105.8

 

 

 

 

 

 

105.8

 

 

 

105.0

 

 

 

 

 

 

105.0

 

Total intangible assets

 

$

168.2

 

 

$

(41.6

)

 

$

126.6

 

 

$

167.2

 

 

$

(40.5

)

 

$

126.7