Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the three months ended March 31, 2023 were as follows:

	Goodwill		Accumulated Impairment Losses		Total
Balance as of December 31, 2022	$	218.8	$	(36.8)	$	182.0
Foreign currency fluctuations	4.5		(1.5)		3.0
Balance as of March 31, 2023	$	223.3	$	(38.3)	$	185.0

The balances of acquired intangible assets, excluding goodwill, were as follows:

	Customer Lists		Trade Names		Technology		Total
Balance as of March 31, 2023
Original cost	$	148.5	$	28.9	$	16.1	$	193.5
Accumulated amortization	(91.5)		(16.8)		(12.0)		(120.3)
Carrying value	$	57.0	$	12.1	$	4.1	$	73.2
Weighted average original life (in years)	15		11		11
Balance as of December 31, 2022
Original cost	$	146.6	$	28.6	$	15.9	$	191.1
Accumulated amortization	(87.5)		(15.9)		(11.3)		(114.7)
Carrying value	$	59.1	$	12.7	$	4.6	$	76.4
Weighted average original life (in years)	15		11		11

Amortization expense on intangible assets for the three months ended March 31, 2023 and 2022 was $3.9 million and $4.5 million, respectively.

Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets for each of the five succeeding years and thereafter is as follows:

Remaining 2023	$	11.3
2024	12.9
2025	11.5
2026	10.3
2027	7.6
Thereafter	19.6
Total	$	73.2