Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

The changes in the net carrying amount of goodwill by operating segment were as follows:

(Dollars in millions)	Advanced Electronics Solutions		Elastomeric Material Solutions		Other		Total
December 31, 2024	$	113.6	$	241.8	$	2.2	$	357.6
Foreign currency translation adjustment	2.6		3.2		—		5.8
March 31, 2025	$	116.2	$	245.0	$	2.2	$	363.4

Other Intangible Assets

The carrying amount of other intangible assets were as follows:

	March 31, 2025						December 31, 2024
(Dollars in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	177.9	$	98.6	$	79.3	$	175.9	$	96.1	$	79.8
Technology	76.9		62.5		14.4		75.6		60.6		15.0
Trademarks and trade names	19.5		7.9		11.6		19.1		7.7		11.4
Total definite-lived other intangible assets	274.3		169.0		105.3		270.6		164.4		106.2
Indefinite-lived other intangible asset	4.3		—		4.3		4.1		—		4.1
Total other intangible assets	$	278.6	$	169.0	$	109.6	$	274.7	$	164.4	$	110.3

In the table above, gross carrying amounts and accumulated amortization may differ from prior periods due to foreign exchange rate fluctuations.

The amortization expense related to other intangible assets was as follows:

	Three Months Ended
(Dollars in millions)	March 31, 2025		March 31, 2024
Amortization expense	$	2.7	$	3.1

The estimated future amortization expense is $8.2 million, $10.5 million, $10.1 million, $7.9 million, and $7.4 million in 2025, 2026, 2027, 2028, and 2029, respectively. These amounts could vary based on changes in foreign currency exchange rates.

The weighted average amortization period as of March 31, 2025, by definite-lived other intangible asset class, is presented in the table below:

	Weighted Average Remaining Amortization Period
Customer relationships	6.9 years
Technology	3.0 years
Trademarks and trade names	9.2 years
Total definite-lived other intangible assets	6.6 years