Goodwill and Other Intangible Assets—Net

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS—Net

Goodwill

The following table presents the changes in the carrying amount of goodwill (in millions):


	Amount
Balance—December 31, 2024	$	235.4
Additions due to business combinations	21.9
Foreign currency translation adjustments	1.6
Balance—June 30, 2025	$	258.9

There were no impairments to goodwill during the six months ended June 30, 2025 or during prior periods.

Other Intangible Assets—Net

The following tables present other intangible assets—net (in millions, except years):


	June 30, 2025
	Weighted-Average Useful Life (in Years)	Gross		Accumulated Amortization		Net
Other intangible assets—net:
Finite-lived intangible assets:
Developed technologies	4.3	$	160.6	$	86.6	$	74.0
Customer relationships	5.3	67.5		33.4		34.1
Trade name	7.1	11.6		2.7		8.9
Backlog	2.4	13.8		7.5		6.3
Total other intangible assets—net		$	253.5	$	130.2	$	123.3


	December 31, 2024
	Weighted-Average Useful Life (in Years)	Gross		Accumulated Amortization		Net
Other intangible assets—net:
Finite-lived intangible assets:
Developed technologies	4.4	$	141.9	$	73.7	$	68.2
Customer relationships	5.5	53.9		23.0		30.9
Trade name	7.5	8.8		1.8		7.0
Backlog	2.5	13.5		4.6		8.9
Total other intangible assets—net		$	218.1	$	103.1	$	115.0

Amortization expense was $13.2 million and $3.3 million during the three months ended June 30, 2025 and 2024, respectively. Amortization expense was $25.0 million and $6.3 million during the six months ended June 30, 2025 and 2024, respectively.

The following table summarizes estimated future amortization expense of finite-lived intangible assets—net (in millions):


	Amount
Years:
2025 (the remainder of 2025)	$	23.7
2026	35.4
2027	28.2
2028	21.4
2029	10.4
Thereafter	4.2
Total	$	123.3