XML 43 R32.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill Changes in the carrying amount of goodwill during the six months ended June 30, 2024 are summarized as follows (in millions):
North AmericaSouth AmericaEurope/Middle EastAsia/Pacific/Africa
Unallocated(1)
Consolidated
Balance as of December 31, 2023$668.2 $93.5 $458.5 $113.2 $— $1,333.4 
Acquisitions— — 8.7 — 1,803.3 1,812.0 
Reclassified to held for sale(2)
(524.0)(12.8)(61.1)(110.3)— (708.2)
Foreign currency translation(1.4)(11.8)(13.0)(2.9)(0.3)(29.4)
Balance as of June 30, 2024$142.8 $68.9 $393.1 $— $1,803.0 $2,407.8 
____________________________________
(1) Unallocated goodwill relates to the PTx Trimble joint venture transaction. Refer to Note 2 for additional information.
(2) Reclassification resulting from the Company's classification of the G&P business as held for sale, $494.6 million is included within “Loss on business held for sale” in the Company’s Condensed Consolidated Statements of Operations and $213.6 million is included within “Assets held for sale” in the Company’s Condensed Consolidated Balance Sheets. Refer to Note 3 for additional information.
Schedule of Acquired Finite-Lived Intangible Assets Changes in the carrying amount of acquired intangible assets during the six months ended June 30, 2024 are summarized as follows (in millions):
Gross carrying amounts:Trademarks and Trade NamesCustomer RelationshipsPatents and Technology
Other
Total
Balance as of December 31, 2023$194.3 $580.7 $148.2 $6.3 $929.5 
Acquisitions10.7 39.4 453.0 41.9 545.0 
Reclassified to held for sale(1)
(122.0)(417.3)(58.7)— (598.0)
Foreign currency translation(3.5)(11.6)(6.6)(0.1)(21.8)
Balance as of June 30, 2024$79.5 $191.2 $535.9 $48.1 $854.7 

Accumulated amortization:Trademarks and Trade NamesCustomer RelationshipsPatents and Technology
Other
Total
Balance as of December 31, 2023$114.5 $483.4 $113.3 $1.7 $712.9 
Amortization expense5.5 31.6 5.0 3.5 45.6 
Reclassified to held for sale(1)
(73.9)(367.4)(48.9)— (490.2)
Foreign currency translation(2.2)(23.1)7.6 (0.1)(17.8)
Balance as of June 30, 2024$43.9 $124.5 $77.0 $5.1 $250.5 
(1) Reclassification resulting from the Company's classification of the G&P business as held for sale. Refer to Note 3 for additional information.
Schedule of Acquired Indefinite-Lived Intangible Assets
Indefinite-lived intangible assets:Trademarks and Trade Names
Balance as of December 31, 2023$85.9 
Foreign currency translation(1.1)
Balance as of June 30, 2024$84.8