Intangible Assets, Net

6 Months Ended

Jun. 30, 2025

Intangible Assets, Net

Intangible Assets, Net

Note 6. Intangible Assets, Net

Intangible assets, net consisted of the following:

		June 30, 2025				December 31, 2024
	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	14.0	$	755.1	$	(579.8)	$	753.4	$	(559.6)
Backlog of orders	7.9		22.1		(10.0)		21.0		(8.2)
Other	9.3		10.2		(9.7)		10.2		(9.6)
			787.4		(599.5)		784.6		(577.4)
Intangible assets not subject to amortization:
Trade names			800.8		—		800.0		—
		$	1,588.2	$	(599.5)	$	1,584.6	$	(577.4)

Changes in the carrying amount of intangible assets, net are as follows:

	(in millions)
Balance as of January 1, 2025	$	1,007.2
Amortization expense		(20.8)
Effect of foreign currency translation		2.3
Balance as of June 30, 2025	$	988.7

The following is a summary of estimated future amortization expense:

	(in millions)
2025 (remaining six months)	$	18.4
2026		29.8
2027		29.1
2028		27.7
2029		25.5
Thereafter		57.4
	$	187.9