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GOODWILL AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2025
GOODWILL AND OTHER INTANGIBLE ASSETS |
GOODWILL AND OTHER INTANGIBLE ASSETS | 6. GOODWILL AND OTHER INTANGIBLE ASSETS ​ Goodwill ​ Goodwill arises from the Company’s acquisitions and represents the excess of the fair value of the purchase consideration exchanged over the fair value of net assets acquired. The Company’s reporting units are its seven operating segments. The Company assesses goodwill for impairment on an annual basis during the second quarter. If circumstances change or events occur that demonstrate it is more likely than not that the carrying amount of a reporting unit exceeds its fair value, the Company completes an interim goodwill assessment of that reporting unit prior to the next annual assessment. If the results of an annual or interim goodwill assessment demonstrate the carrying amount of a reporting unit is greater than its fair value, the Company will recognize an impairment loss for the amount by which the reporting unit’s carrying amount exceeds its fair value, but not to exceed the carrying amount of goodwill assigned to that reporting unit. There has been no impairment of goodwill in any of the periods presented. ​ The changes in the carrying amount of goodwill for each of the Company's reportable segments during the first quarter ended March 31, 2025 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Global | ​ | Global | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Global | ​ | Institutional | ​ | Pest | ​ | Global | ​ | ​ | ​ | ​
(millions) |  | Water |  | & Specialty | ​ | Elimination |  | Life Sciences | ​ | Total |
December 31, 2024 | ​ | ​ | $4,304.9 | ​ | ​ | $613.2 | ​ | ​ | $169.4 | ​ | ​ | $2,819.8 | ​ | ​ | $7,907.3 | ​
Segment changes (a) | ​ | ​ | - | ​ | ​ | 411.1 | ​ | ​ | - | ​ | ​ | (411.1) | ​ | ​ | - | ​
December 31, 2024 recast | ​ | ​ | 4,304.9 | ​ | ​ | 1,024.3 | ​ | ​ | 169.4 | ​ | ​ | 2,408.7 | ​ | ​ | 7,907.3 | ​
Effect of foreign currency translation | ​ | ​ | (24.4) | ​ | ​ | (3.1) | ​ | ​ | (0.4) | ​ | ​ | (14.9) | ​ | ​ | (42.8) | ​
March 31, 2025 | ​ | ​ | $4,280.5 | ​ | ​ | $1,021.2 | ​ | ​ | $169.0 | ​ | ​ | $2,393.8 | ​ | ​ | $7,864.5 | ​
​
(a) | Relates to reclassifications made to reportable segments in the current year. Effective January 1, 2025, the Company’s former Global Industrial reportable segment was renamed Global Water and includes the Light & Heavy (previously named Water), Food & Beverage, and Paper operating segments. The Global Institutional & Specialty reportable segment continues to include the Institutional and Specialty operating segments. The Company’s former healthcare operating segment moved into the Institutional operating segment. Global Life Sciences was elevated to a standalone reportable segment. The Global Pest Elimination segment remains a standalone reportable segment. After these changes, the Company has seven operating segments.
​ Other Intangible Assets ​ The Nalco trade name is the Company’s only indefinite life intangible asset, which is tested for impairment on an annual basis during the second quarter. If circumstances change or events occur that demonstrate it is more likely than not that the carrying amount of an indefinite-lived intangible asset exceeds its fair value, the Company completes an interim impairment assessment of that asset prior to the next annual assessment. Based on the ongoing performance of the Company’s reporting units associated with the Nalco trade name, an interim indefinite life intangible asset impairment assessment was not performed during the first quarter of 2025. There has been no impairment of the Nalco trade name intangible since it was acquired. ​ The Company’s intangible assets subject to amortization include customer relationships, trademarks, patents and other technologies primarily acquired through business acquisitions. The fair value of intangible assets acquired in business acquisitions are estimated primarily using discounted cash flow valuation methods at the time of acquisition. Intangible assets are amortized on a straight-line basis over their estimated lives. Total amortization expense related to intangible assets during the first quarter of 2025 and 2024 was $74.9 million and $77.8 million, respectively. Amortization expense related to intangible assets for the remaining nine-month period of 2025 is expected to be approximately $218.1 million.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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