Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 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 six months ended June 30, 2023 were as follows:

	Goodwill		Accumulated Impairment Losses		Total
Balance as of December 31, 2022	$	218.8	$	(36.8)	$	182.0
Foreign currency fluctuations	5.8		(2.2)		3.6
Balance as of June 30, 2023	$	224.6	$	(39.0)	$	185.6

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

	Customer Lists		Trade Names		Technology		Total
Balance as of June 30, 2023
Original cost	$	148.8	$	29.0	$	16.2	$	194.0
Accumulated amortization	(94.5)		(17.6)		(12.3)		(124.4)
Carrying value	$	54.3	$	11.4	$	3.9	$	69.6
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 and six months ended June 30, 2023 was $3.6 million and $7.5 million, respectively. Amortization expense on intangible assets for the three and six months ended June 30, 2022 was $3.9 million and $8.4 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	$	7.1
2024	13.3
2025	11.9
2026	10.6
2027	7.3
Thereafter	19.4
Total	$	69.6