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Intangible Assets, Net | 9 Months Ended
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Sep. 30, 2024
Intangible Assets, Net |
Intangible Assets, Net | Note 5. Intangible Assets, Net ​ Intangible assets, net consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | September 30, 2024 | ​ | December 31, 2023
​ | 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 | 14.0 | ​ | $ | 755.1 | ​ | $ | (550.5) | ​ | $ | 716.0 | ​ | $ | (520.5)
Backlog of orders | 7.9 | ​ | ​ | 22.4 | ​ | ​ | (8.0) | ​ | ​ | 22.9 | ​ | ​ | (6.0)
Other | 9.3 | ​ | ​ | 10.2 | ​ | ​ | (9.6) | ​ | ​ | 10.0 | ​ | ​ | (9.5)
​ | ​ | ​ | ​ | 787.7 | ​ | ​ | (568.1) | ​ | ​ | 748.9 | ​ | ​ | (536.0)
Intangible assets not subject to amortization: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade names | ​ | ​ | ​ | 811.9 | ​ | ​ | — | ​ | ​ | 768.2 | ​ | ​ | —
​ | ​ | ​ | $ | 1,599.6 | ​ | $ | (568.1) | ​ | $ | 1,517.1 | ​ | $ | (536.0)
​ Intangible assets recorded in connection with our 2024 acquisitions were $80.9 million, including $41.4 million allocated to the trade names acquired, which are not subject to amortization. See Note 2—“Acquisitions” for further discussion of intangible assets recorded in the preliminary purchase price allocations for our 2024 acquisitions. ​ Amortization expense for intangible assets was $32.1 million and $33.6 million for the nine months ended September 30, 2024 and 2023, respectively. Foreign currency translation loss on Intangible assets, net was $0.6 million for the nine months ended September 30, 2024 compared to foreign currency translation gain of $0.1 million for the same period in 2023. ​ The following is a summary of estimated future amortization expense: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | (in millions)
2024 (remaining three months) | ​ | ​ | ​ | $ | 10.6
2025 | ​ | ​ | ​ | ​ | 39.3
2026 | ​ | ​ | ​ | ​ | 29.8
2027 | ​ | ​ | ​ | ​ | 29.2
2028 | ​ | ​ | ​ | ​ | 27.7
Thereafter | ​ | ​ | ​ | ​ | 83.0
​ | ​ | ​ | ​ | $ | 219.6
​

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