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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Changes in the carrying amount of goodwill during the years ended December 31, 2024 and 2023 consisted of the following:
(dollars in millions)North AmericaRest of WorldTotal
Balance at December 31, 2022$561.1 $58.6 $619.7 
Currency translation adjustment2.6 (0.1)2.5 
Acquisitions11.2 — 11.2 
Balance at December 31, 2023574.9 58.5 633.4 
Currency translation adjustment(8.7)(1.4)(10.1)
Acquisitions20.5 117.9 138.4 
Balance at December 31, 2024$586.7 $175.0 $761.7 
The carrying amount of other intangible assets consisted of the following:
20242023
December 31 (dollars in millions)Gross
Carrying
Amount
Accumulated
Amortization
NetGross
Carrying
Amount
Accumulated
Amortization
Net
Amortizable intangible assets:
Patents$3.7 $(3.7)$— $3.7 $(3.7)$— 
Customer lists287.5 (187.3)100.2 286.4 (174.0)112.4 
Total amortizable intangible assets291.2 (191.0)100.2 290.1 (177.7)112.4 
Indefinite-lived intangible assets:
Trade names220.9 — 220.9 224.3 — 224.3 
Total intangible assets$512.1 $(191.0)$321.1 $514.4 $(177.7)$336.7 
Amortization expenses of other intangible assets of $12.7 million, $12.6 million, and $12.8 million were recorded in 2024, 2023 and 2022, respectively. In the future, excluding the impact of any future acquisitions, the Company expects amortization expense of approximately $12.7 million annually and the intangible assets will be amortized over a weighted-average period of 10 years.
The Company concluded that no goodwill impairment existed at the time of the annual impairment tests which were performed in the fourth quarters of 2024, 2023 and 2022. No impairments of other intangible assets were recorded in 2024, 2023 and 2022.