Goodwill and Purchased Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill

The following table presents changes in goodwill during the nine months ended September 30, 2024 (in millions):

	Access		Vocational		Corporate and Other			Total
Net goodwill at December 31, 2023	$	979.9	$	392.1	$	44.4		$	1,416.4
Impairment		—		—		(38.7	)		(38.7	)
Foreign currency translation		3.2		—		—			3.2
Acquisitions		55.3		1.7		—			57.0
Net goodwill at September 30, 2024	$	1,038.4	$	393.8	$	5.7		$	1,437.9

Schedule of Company's Goodwill Allocated to the Reportable Segments

The following table presents details of the Company’s goodwill allocated to the reportable segments (in millions):

	September 30, 2024							December 31, 2023
	Gross		Accumulated Impairment			Net		Gross		Accumulated Impairment			Net
Access	$	1,970.5	$	(932.1	)	$	1,038.4	$	1,912.0	$	(932.1	)	$	979.9
Vocational		563.2		(169.4	)		393.8		561.5		(169.4	)		392.1
Corporate and other		44.4		(38.7	)		5.7		44.4		—			44.4
	$	2,578.1	$	(1,140.2	)	$	1,437.9	$	2,517.9	$	(1,101.5	)	$	1,416.4

Schedule of Purchased Intangible Assets

Details of the Company’s total purchased intangible assets are as follows (in millions):

	September 30, 2024							December 31, 2023
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Amortizable intangible assets:
Customer relationships	$	826.4	$	(596.9	)	$	229.5	$	819.5	$	(574.6	)	$	244.9
Trade names		121.9		(16.7	)		105.2		118.6		(7.5	)		111.1
Technology-related		170.4		(105.2	)		65.2		166.5		(108.2	)		58.3
Distribution network		55.3		(39.4	)		15.9		55.3		(38.4	)		16.9
Other		29.6		(23.5	)		6.1		37.5		(25.2	)		12.3
		1,203.6		(781.7	)		421.9		1,197.4		(753.9	)		443.5
Non-amortizable trade names		386.6		—			386.6		386.7		—			386.7
	$	1,590.2	$	(781.7	)	$	808.5	$	1,584.1	$	(753.9	)	$	830.2

Schedule of Estimated Future Amortization Expense for Purchased Intangible Assets

Estimated future amortization expense for purchased intangible assets is as follows (in millions):

Years:
2024 (remaining three months)	$	16.1
2025		55.8
2026		53.0
2027		53.0
2028		49.3
2029		45.9