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Intangible Assets, Net
9 Months Ended
Sep. 30, 2025
Intangible Assets, Net  
Intangible Assets, Net

Note 6. Intangible Assets, Net

Intangible assets, net consisted of the following:

September 30, 2025

December 31, 2024

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

13.9

$

754.5

$

(589.1)

$

753.4

$

(559.6)

Backlog of orders

7.9

21.6

(10.5)

21.0

(8.2)

Other

9.3

10.2

(9.7)

10.2

(9.6)

786.3

(609.3)

784.6

(577.4)

Intangible assets not subject to amortization:

Trade names

800.6

800.0

$

1,586.9

$

(609.3)

$

1,584.6

$

(577.4)

Changes in the carrying amount of intangible assets, net are as follows:

   

   

(in millions)

Balance as of January 1, 2025

$

1,007.2

Amortization expense

(31.1)

Foreign currency translation

1.5

Balance as of September 30, 2025

$

977.6

The following is a summary of estimated future amortization expense:

   

(in millions)

2025 (remaining three months)

$

8.1

2026

29.7

2027

29.0

2028

27.5

2029

25.4

Thereafter

57.3

$

177.0