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Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2024
Intangible Assets, Net  
Summary of intangible assets, net

December 31, 2024

December 31, 2023

Weighted Average

Gross

Gross

Amortizable

Carrying

Accumulated

Carrying

Accumulated

Life in Years

   

Amount

   

Amortization

   

Amount

   

Amortization

(in millions)

Intangible assets subject to amortization:

Customer lists/relationships

13.9

$

753.4

$

(559.6)

$

716.0

$

(520.5)

Backlog of orders

7.9

21.0

(8.2)

22.9

(6.0)

Other

9.3

10.2

(9.6)

10.0

(9.5)

784.6

(577.4)

748.9

(536.0)

Intangible assets not subject to amortization:

Trade names

800.0

768.2

$

1,584.6

$

(577.4)

$

1,517.1

$

(536.0)

Schedule of carrying amount of intangible assets

   

   

(in millions)

Balance at January 1, 2023

$

1,019.6

Acquisition

3.9

Amortization expense

(43.8)

Effect of foreign currency translation

1.4

Balance at December 31, 2023

981.1

Acquisitions

80.9

Amortization expense

(42.6)

Impairment

(11.2)

Other

2.2

Effect of foreign currency translation

(3.2)

Balance at December 31, 2024

$

1,007.2

Summary of estimated aggregate amortization expense

   

(in millions)

2025

$

39.0

2026

29.5

2027

28.9

2028

27.4

2029

25.3

Thereafter

57.1

$

207.2