Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets

The following table details amounts related to our goodwill and intangible assets as of December 31, 2024 and 2023:

		December 31, 2024				December 31, 2023
	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizing intangible assets
Customer relationships	2-20 years	$	194.7	$	163.9	$	183.6	$	152.1
Developed technology	10-20 years		114.8		85.9		101.4		84.4
Software	5-7 years		19.7		7.8		15.6		4.6
Trademarks and brand names	3-20 years		23.6		4.3		6.2		3.4
Non-compete agreements	3-5 years		15.9		5.6		6.1		3.8
Trade secrets	15 years		5.3		-		-		-
Other	Various		3.7		0.5		2.8		0.2
Total		$	377.7	$	268.0	$	315.7	$	248.5
Non-amortizing intangible assets
Trademarks and brand names	Indefinite		345.3				345.2
Total intangible assets		$	723.0			$	660.9
Goodwill	Indefinite	$	203.2			$	175.5

The increase in goodwill as of December 31, 2024 compared to December 31, 2023 resulted from the acquisitions of 3form and Zahner, partially offset by foreign exchange movements.

	2024		2023		2022
Amortization expense	$	19.9	$	15.3	$	16.3

Schedule of Expected Annual Amortization Expense

The expected annual amortization expense for the years 2025 through 2029 are as follows:

2025	$	24.0
2026		19.8
2027		12.8
2028		10.6
2029		6.5