Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill and other intangible assets

Goodwill and other intangible assets, net of accumulated amortization, as of December 31, 2024 and 2023 were as follows (in millions):

	2024		2023
Goodwill	$	393.5	$	394.4
Other intangible assets, net	542.7		512.0
Total goodwill and other intangible assets, net	$	936.2	$	906.4

Schedule of changes in carrying amount of goodwill

The changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2024 and 2023 were as follows (in millions):

	Off Road		On Road		Marine		Total
Balance as of December 31, 2022	$	110.7	$	48.4	$	227.1	$	386.2
Goodwill acquired	5.8		—		—		5.8
Currency translation effect on foreign goodwill balances	0.1		2.3		—		2.4
Balance as of December 31, 2023	$	116.6	$	50.7	$	227.1	$	394.4
Goodwill acquired and related adjustments	0.4		—		3.5		3.9
Currency translation effect on foreign goodwill balances	(0.8)		(4.0)		—		(4.8)
Balance as of December 31, 2024	$	116.2	$	46.7	$	230.6	$	393.5

Schedule of other intangible assets, changes in net carrying amount

The changes in the net carrying amount of other intangible assets for the years ended December 31, 2024 and 2023 were as follows (in millions):

	2024				2023
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Other intangible assets, beginning	$	609.2	$	(97.2)	$	604.4	$	(80.0)
Other intangible assets acquired	62.7		—		4.9		—
Other intangible assets disposed of	(0.1)		0.1		(0.5)		0.5
Other intangible assets impaired	(9.5)		—		—		—
Amortization expense	—		(21.9)		—		(17.7)
Currency translation effect on foreign balances	(0.6)		—		0.4		—
Other intangible assets, ending	$	661.7	$	(119.0)	$	609.2	$	(97.2)

Schedule of components of other intangible assets

The components of other intangible assets were as follows (in millions):

December 31, 2024	Weighted-average useful life (years)	Gross Carrying Amount		Accumulated Amortization		Net
Amortizable - dealer/customer related	19	341.2		(114.8)		226.4
Amortizable - developed technology	10	62.7		(4.2)		58.5
Non-amortizable - brand/trade names		257.8		—		257.8
Total other intangible assets, net	18	$	661.7	$	(119.0)	$	542.7
December 31, 2023	Weighted-average useful life (years)	Gross Carrying Amount		Accumulated Amortization		Net
Amortizable - dealer/customer related	19	341.2		(97.2)		244.0
Non-amortizable - brand/trade names		268.0		—		268.0
Total other intangible assets, net		$	609.2	$	(97.2)	$	512.0

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expense for identifiable other intangible assets during the next five years is as follows (in millions):

	2025		2026		2027		2028		2029
Estimated amortization expense	$	23.9	$	23.9	$	23.9	$	23.9	$	23.9

The preceding expected amortization expense is an estimate and actual amounts could differ due to additional other intangible asset acquisitions, changes in foreign currency rates, or impairments of other intangible assets