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v3.23.2

Intangible Assets, net | 6 Months Ended
--- | ---
Jun. 30, 2023
Intangible Assets, net |
Intangible Assets, net | Note 4. Intangible Assets, net ​ Intangible assets, net consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | June 30, 2023 | ​ | December 31, 2022
​ | Weighted Average | ​ | Gross | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​
​ | Amortizable | ​ | Carrying | ​ | Accumulated | ​ | Carrying | ​ | Accumulated
​ | Life in Years |  | Amount |  | Amortization |  | Amount |  | Amortization
​ | ​ | ​ | (in millions)
Intangible assets subject to amortization: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer lists/relationships | 14.2 | ​ | $ | 716.4 | ​ | $ | (501.2) | ​ | $ | 713.6 | ​ | $ | (479.3)
Backlog of orders | 7.9 | ​ | ​ | 22.8 | ​ | ​ | (4.6) | ​ | ​ | 22.3 | ​ | ​ | (3.1)
Other | 9.4 | ​ | ​ | 10.3 | ​ | ​ | (9.5) | ​ | ​ | 9.9 | ​ | ​ | (9.5)
​ | ​ | ​ | ​ | 749.5 | ​ | ​ | (515.3) | ​ | ​ | 745.8 | ​ | ​ | (491.9)
Intangible assets not subject to amortization: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade names | ​ | ​ | ​ | 768.6 | ​ | ​ | — | ​ | ​ | 765.7 | ​ | ​ | —
​ | ​ | ​ | $ | 1,518.1 | ​ | $ | (515.3) | ​ | $ | 1,511.5 | ​ | $ | (491.9)
​ Amortization expense for intangible assets was $23.0 million and $24.3 million for the six months ended June 30, 2023 and 2022, respectively. As part of the purchase price allocation of our acquisition of Southern Steel Supply, LLC on May 1, 2023, we allocated a total of $5.0 million to the intangible assets acquired. Foreign currency translation gains related to intangible assets, net were $1.2 million for the six months ended June 30, 2023 compared to foreign currency translation losses of $1.6 million for the six months ended June 30, 2022. ​ The following is a summary of estimated future amortization expense: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | (in millions)
2023 (remaining six months) | ​ | ​ | ​ | $ | 20.8
2024 | ​ | ​ | ​ | ​ | 40.5
2025 | ​ | ​ | ​ | ​ | 36.3
2026 | ​ | ​ | ​ | ​ | 26.8
2027 | ​ | ​ | ​ | ​ | 26.2
Thereafter | ​ | ​ | ​ | ​ | 83.6
​ | ​ | ​ | ​ | $ | 234.2
​

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