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v3.23.3

Intangible Assets, net | 9 Months Ended
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Sep. 30, 2023
Intangible Assets, net |
Intangible Assets, net | Note 4. Intangible Assets, net ​ Intangible assets, net consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | September 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 | ​ | $ | 715.2 | ​ | $ | (510.7) | ​ | $ | 713.6 | ​ | $ | (479.3)
Backlog of orders | 7.9 | ​ | ​ | 22.3 | ​ | ​ | (5.2) | ​ | ​ | 22.3 | ​ | ​ | (3.1)
Other | 9.4 | ​ | ​ | 10.3 | ​ | ​ | (9.6) | ​ | ​ | 9.9 | ​ | ​ | (9.5)
​ | ​ | ​ | ​ | 747.8 | ​ | ​ | (525.5) | ​ | ​ | 745.8 | ​ | ​ | (491.9)
Intangible assets not subject to amortization: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade names | ​ | ​ | ​ | 767.8 | ​ | ​ | — | ​ | ​ | 765.7 | ​ | ​ | —
​ | ​ | ​ | $ | 1,515.6 | ​ | $ | (525.5) | ​ | $ | 1,511.5 | ​ | $ | (491.9)
​ Amortization expense for intangible assets was $33.6 million and $36.3 million for the nine months ended September 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 $4.0 million to the intangible assets acquired. Foreign currency translation gain related to Intangible assets, net was $0.1 million for the nine months ended September 30, 2023 compared to foreign currency translation loss of $5.0 million for the nine months ended September 30, 2022. ​ The following is a summary of estimated future amortization expense: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | (in millions)
2023 (remaining three months) | ​ | ​ | ​ | $ | 10.2
2024 | ​ | ​ | ​ | ​ | 40.3
2025 | ​ | ​ | ​ | ​ | 36.1
2026 | ​ | ​ | ​ | ​ | 26.7
2027 | ​ | ​ | ​ | ​ | 26.0
Thereafter | ​ | ​ | ​ | ​ | 83.0
​ | ​ | ​ | ​ | $ | 222.3
​

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