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GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS:
The following tables show the carrying amounts of goodwill and intangible assets:
December 31, 2024
Cost
Accumulated
Amortization
and Impairment
Carrying Amount
Goodwill
$395.9 $55.4 $340.5 
Intellectual property
$112.0 $111.4 $0.6 
Other intangible assets
693.9 403.6 290.3 
Computer software assets
313.3 296.2 17.1 
$1,119.2 $811.2 $308.0 
December 31, 2023
Cost
Accumulated
Amortization
and Impairment
Carrying Amount
Goodwill
$377.1 $55.4 $321.7 
Intellectual property
$111.3 $111.3 $— 
Other intangible assets
672.3 371.9 300.4 
Computer software assets
310.8 292.9 17.9 
$1,094.4 $776.1 $318.3 
The following table details the changes to the carrying amount of goodwill for the years indicated:
Year ended December 31
20242023
Opening balance
$321.7 $321.8 
Acquisitions through business combinations (see note 3)
19.4 — 
Foreign exchange
(0.6)(0.1)
Ending balance
$340.5 $321.7 

Other intangible assets are amortized over a weighted-average estimated useful life of 12.2 years. Computer software assets are amortized over a weighted-average estimated useful life of 8.4 years. Estimated amortization expenses of intangible assets for each of the five succeeding fiscal years and thereafter are as follows:

2025$43.2 
202643.4
202741.8
202837.7
202936.3
Thereafter105.6
$308.0 

We evaluate goodwill for impairment at the reporting unit level annually, and in certain circumstances such as a change in reporting units or whenever there are indications that goodwill might be impaired. No triggering events occurred during 2022, 2023 or 2024. In addition to an assessment of triggering events during the year, we also conduct an Annual Impairment Assessment of goodwill during the fourth quarter of each year. We recorded no impairment charges against goodwill or intangible assets as a result of our 2022, 2023 or 2024 Annual Impairment Assessments because the fair value of each one of the reporting units exceeded its respective carrying value.

At December 31, 2024, our goodwill balance consists of the following:
Reportable Segment
Amount
Capital Equipment reporting unit:
ATS
Goodwill attributable to acquisition of Impakt Holdings, LLC in November 2018
$111.5 
Goodwill attributable to prior acquisitions
19.5 
Aerospace and Defense (A&D) reporting unit:
ATS
Goodwill attributable to acquisition of Atrenne Integrated Solutions, Inc. in April 2018
62.6 
Goodwill attributable to prior acquisitions
3.7 
PCI Private Limited (PCI) reporting unit:
Goodwill attributable to acquisition of PCI in November 2021
ATS
123.8 
NCS reporting unit:
    Goodwill attributable to acquisition of NCS in April 2024 (see note 3)
CCS
19.4 
$340.5 

The process of determining the fair value of our reporting units is subjective and requires management to exercise significant judgement in estimating our future revenue growth, profitability and discount rate assumptions, among other factors. The assumptions we used for revenue growth and for each of the reporting unit margins were based on projections over a 5-year period and a perpetual growth rate of 2% thereafter (reflecting long-term inflation guidance). Future growth in revenue and margins for these reporting units is supported by new business awarded recently, customer forecasts, assumptions for additional future program wins based on our current revenue pipeline, margin improvements based on restructuring actions implemented and external industry outlooks. The discount rates for all of our reporting units considers our weighed average cost of capital as well as market interest rate changes. In addition, assumptions for our 2024 Annual
Impairment Assessment for: (i) our Capital Equipment reporting unit include expected continued stable market demand in the near term with strong business growth over the long term; (ii) our A&D reporting unit include expected demand increases in line with industry expectations; and (iii) our PCI reporting unit include expected demand improvements from various customers and benefits from our continued execution of synergistic programs.

    Future events and changing market conditions may impact our assumptions as to prices, costs or other factors that may result in changes to our estimates of future cash flows. Failure to realize the assumed revenues at an appropriate profit margin of a reporting unit could result in impairment losses in such reporting unit in future periods.