
(Amounts in millions)	Commercial & Industrial Group		Snap-on Tools Group		Repair Systems & Information Group		Total
Balance as of 2023 year end	$	346.6	$	12.4	$	738.4	$	1,097.4
Currency translation	(17.8)		—		(9.6)		(27.4)
Acquisition adjustments	(13.2)		—		—		(13.2)
Balance as of 2024 year end	$	315.6	$	12.4	$	728.8	$	1,056.8
Currency translation	33.8		—		18.9		52.7

Balance as of 2025 year end	$	349.4	$	12.4	$	747.7	$	1,109.5

Goodwill of $1,056.8 million as of 2024 year end included $19.8 million, from the acquisition of Mountz. In the first quarter of 2024, the purchase accounting valuations for the acquired net assets of Mountz were completed, resulting in a reduction of goodwill of $13.2 million from year end 2023. See Note 3 for additional information on acquisitions.


	2025						2024
(Amounts in millions)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortized other intangible assets:
Customer relationships	$	79.8	$	(34.7)	$	45.1	$	84.2	$	(35.1)	$	49.1
Developed technology	26.5		(26.0)		0.5		26.6		(23.1)		3.5
Internally developed software	200.8		(146.5)		54.3		179.6		(135.6)		44.0
Patents	54.0		(23.4)		30.6		49.8		(21.4)		28.4
Trademarks	4.1		(2.8)		1.3		3.8		(2.5)		1.3
Other	0.9		(0.5)		0.4		6.1		(2.9)		3.2
Total	366.1		(233.9)		132.2		350.1		(220.6)		129.5
Non-amortized trademarks	138.5		—		138.5		138.1		—		138.1
Total other intangible assets	$	504.6	$	(233.9)	$	270.7	$	488.2	$	(220.6)	$	267.6

In 2025, Snap-on retired $8.4 million of customer relationships, $1.6 million of internally developed software and $0.7 million of developed technology that were fully amortized and had reached the end of their useful lives. Snap-on also retired $8.9 million of non-amortized trademarks and $5.5 million of land-use rights with a net carrying value of $2.9 million related to a building that was sold. See Note 6 for additional information on property and equipment.

In 2024, Snap-on retired $136.9 million of customer relationships, $23.2 million of internally developed software and $9.5 million of developed technology that were fully amortized and had reached the end of their useful lives.

The gross carrying value of customer relationships and non-amortized trademarks as of year end 2024 includes $8.7 million and $5.4 million, respectively, related to the Mountz acquisition.

Provisions for impairment of goodwill and/or other intangible assets could arise in a future period due to significant and unanticipated changes in circumstances, such as declines in profitability and cash flow due to long-term deterioration in macroeconomic, industry and market conditions, the loss of key customers, changes in technology or markets, changes in key personnel or litigation, a sustained decrease in share price and/or other events. As of 2025 year end, the company had no accumulated impairment losses.


						In Years
Customer relationships						14
Developed technology						5
Internally developed software						5
Patents						15
Trademarks						9
Other						50

The weighted-average amortization period for all amortizable intangible assets on a combined basis is 11 years. Intangible asset renewal costs are expensed as incurred.

The aggregate amortization expense was $22.7 million in 2025, $25.3 million in 2024 and $27.1 million in 2023. Based on current levels of amortizable intangible assets and estimated weighted-average useful lives, estimated annual amortization expense is expected to be $18.5 million in 2026, $16.0 million in 2027, $13.2 million in 2028, $10.8 million in 2029, and $9.8 million in 2030.