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Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

(9) Goodwill and Other Intangible Assets

We have goodwill, finite-lived intangible assets and indefinite-lived intangible assets as follows:

 

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

Goodwill(a)

 

$

1,549.0

 

 

$

—

 

 

$

1,549.0

 

 

$

1,563.4

 

 

$

—

 

 

$

1,563.4

 

Intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

834.3

 

 

$

542.5

 

 

$

291.8

 

 

$

814.2

 

 

$

509.1

 

 

$

305.1

 

Other

 

 

25.3

 

 

 

22.7

 

 

 

2.6

 

 

 

24.4

 

 

 

21.3

 

 

 

3.1

 

 

 

859.6

 

 

 

565.2

 

 

 

294.4

 

 

 

838.6

 

 

 

530.4

 

 

 

308.2

 

Indefinite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames(b)

 

 

52.0

 

 

 

—

 

 

 

52.0

 

 

 

52.0

 

 

 

—

 

 

 

52.0

 

Reacquired franchise rights(c)

 

 

98.7

 

 

 

—

 

 

 

98.7

 

 

 

125.9

 

 

 

—

 

 

 

125.9

 

 

 

150.7

 

 

 

—

 

 

 

150.7

 

 

 

177.9

 

 

 

—

 

 

 

177.9

 

Total intangible assets

 

$

1,010.3

 

 

$

565.2

 

 

$

445.1

 

 

$

1,016.5

 

 

$

530.4

 

 

$

486.1

 
(a)
Balances were net of accumulated impairment loss of $807.4 and $749.3 as of June 30, 2025 and December 31, 2024, respectively.
(b)
Balances were net of accumulated impairment loss of $139.5 as of both June 30, 2025 and December 31, 2024.
(c)
Balances were net of accumulated impairment loss of $30.6 and none as of June 30, 2025 and December 31, 2024, respectively.

Total consolidated amortization expense related to intangible assets for the remainder of 2025 is expected to be $15.0 and in each of the next five years as follows: 2026 - $27.7, 2027 - $27.1, 2028 - $27.2, 2029 - $26.8 and 2030 - $26.3.

Changes in the carrying value of goodwill by reportable segment and Corporate were as follows:

 

 

 

Americas(a)

 

 

Southern
Europe(b)

 

 

Northern
Europe

 

 

APME

 

 

Corporate(c)

 

 

Total

 

Balance, December 31, 2024

 

$

1,048.2

 

 

$

145.3

 

 

$

181.4

 

 

$

63.0

 

 

$

125.5

 

 

$

1,563.4

 

Acquisitions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.9

 

 

 

—

 

 

 

0.9

 

Dispositions

 

 

—

 

 

 

—

 

 

 

(0.7

)

 

 

—

 

 

 

—

 

 

 

(0.7

)

Impairment charges

 

 

—

 

 

 

(24.7

)

 

 

(33.4

)

 

 

—

 

 

 

—

 

 

 

(58.1

)

Currency impact

 

 

2.4

 

 

 

19.1

 

 

 

19.2

 

 

 

2.8

 

 

 

—

 

 

 

43.5

 

Balance, June 30, 2025

 

$

1,050.6

 

 

$

139.7

 

 

$

166.5

 

 

$

66.7

 

 

$

125.5

 

 

$

1,549.0

 
(a)
Balances related to the United States were $1,007.2 as of both December 31, 2024 and June 30, 2025.
(b)
Balances related to France were $70.9 and $80.8 as of December 31, 2024 and June 30, 2025, respectively. Balances related to Italy were $3.5 and $4.0 as of December 31, 2024 and June 30, 2025, respectively.
(c)
The majority of the Corporate balance relates to goodwill attributable to our acquisitions of Right Management ($62.1) and Jefferson Wells ($55.5). Jefferson Wells is part of the United States reporting unit. Right Management is allocated to the reporting units of the countries in which Right Management operates. For purposes of monitoring our total assets by segment, we do not allocate the Corporate balances to the respective reportable segments as this is commensurate with how we operate our business. We do, however, include these balances within the appropriate reporting units for our goodwill impairment testing.