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Goodwill and Purchased Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill

The following table presents changes in goodwill by segment for the nine months ended September 30, 2025 (in millions):

 

Access

 

 

Vocational

 

 

Corporate and Other

 

 

Total

 

Net goodwill at December 31, 2024

 

$

1,011.0

 

 

$

393.4

 

 

$

5.7

 

 

$

1,410.1

 

Impairment

 

 

—

 

 

 

—

 

 

 

(5.7

)

 

 

(5.7

)

Foreign currency translation

 

 

42.8

 

 

 

0.2

 

 

 

—

 

 

 

43.0

 

Net goodwill at September 30, 2025

 

$

1,053.8

 

 

$

393.6

 

 

$

—

 

 

$

1,447.4

 
Schedule of Company's Goodwill by Segment

The following table presents details of the Company’s goodwill by segment (in millions):

 

 

September 30, 2025

 

 

December 31, 2024

 

 

 

Gross

 

 

Accumulated
Impairment

 

 

Net

 

 

Gross

 

 

Accumulated
Impairment

 

 

Net

 

Access

 

$

1,985.9

 

 

$

(932.1

)

 

$

1,053.8

 

 

$

1,943.1

 

 

$

(932.1

)

 

$

1,011.0

 

Vocational

 

 

563.0

 

 

 

(169.4

)

 

 

393.6

 

 

 

562.8

 

 

 

(169.4

)

 

 

393.4

 

Corporate and other

 

 

44.4

 

 

 

(44.4

)

 

 

—

 

 

 

44.4

 

 

 

(38.7

)

 

 

5.7

 

 

 

$

2,593.3

 

 

$

(1,145.9

)

 

$

1,447.4

 

 

$

2,550.3

 

 

$

(1,140.2

)

 

$

1,410.1

 
Schedule of Purchased Intangible Assets

Details of the Company’s purchased intangible assets are as follows (in millions):

 

 

September 30, 2025

 

 

December 31, 2024

 

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

Amortizable intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

835.6

 

 

$

(630.3

)

 

$

205.3

 

 

$

829.8

 

 

$

(604.6

)

 

$

225.2

 

Trade names

 

 

120.2

 

 

 

(22.9

)

 

 

97.3

 

 

 

120.2

 

 

 

(19.3

)

 

 

100.9

 

Technology-related

 

 

163.7

 

 

 

(117.3

)

 

 

46.4

 

 

 

158.9

 

 

 

(107.4

)

 

 

51.5

 

Distribution network

 

 

55.3

 

 

 

(40.8

)

 

 

14.5

 

 

 

55.3

 

 

 

(39.8

)

 

 

15.5

 

Other

 

 

2.3

 

 

 

(1.2

)

 

 

1.1

 

 

 

33.1

 

 

 

(27.4

)

 

 

5.7

 

 

 

 

1,177.1

 

 

 

(812.5

)

 

 

364.6

 

 

 

1,197.3

 

 

 

(798.5

)

 

 

398.8

 

Non-amortizable trade names

 

 

378.8

 

 

 

—

 

 

 

378.8

 

 

 

378.8

 

 

 

—

 

 

 

378.8

 

 

 

$

1,555.9

 

 

$

(812.5

)

 

$

743.4

 

 

$

1,576.1

 

 

$

(798.5

)

 

$

777.6

 
Schedule of Estimated Future Amortization Expense for Purchased Intangible Assets

Estimated future amortization expense for purchased intangible assets is as follows (in millions):

Years:

 

 

 

2025 (remaining three months)

 

$

14.5

 

2026

 

 

55.7

 

2027

 

 

55.7

 

2028

 

 

51.4

 

2029

 

 

47.1

 

2030

 

 

45.6