XML 76 R14.htm IDEA: XBRL DOCUMENT
v3.25.0.1

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, 2023 and 2022 are summarized as follows (in millions):
| North America |  | South America |  | Europe/ Middle East |  | Asia/ Pacific/Africa |  | Consolidated
Balance as of December 31, 2022 | $ | 667.3 |  |  | $ | 86.0 |  |  | $ | 444.3 |  |  | $ | 113.2 |  |  | $ | 1,310.8 |
Foreign currency translation | 0.9 |  |  | 7.5 |  |  | 14.2 |  |  | — |  |  | 22.6 |
Balance as of December 31, 2023 | 668.2 |  |  | 93.5 |  |  | 458.5 |  |  | 113.2 |  |  | 1,333.4 |
Acquisitions | 955.6 |  |  | 32.5 |  |  | 592.4 |  |  | 20.4 |  |  | 1,600.9 |
Divestiture(1) | (523.9) |  |  | (12.4) |  |  | (61.4) |  |  | (113.2) |  |  | (710.9) |
Impairment charge | (354.1) |  |  | — |  |  | — |  |  | — |  |  | (354.1) |
Foreign currency translation | (3.0) |  |  | (18.7) |  |  | (27.2) |  |  | — |  |  | (48.9) |
Balance as of December 31, 2024 | $ | 742.8 |  |  | $ | 94.9 |  |  | $ | 962.3 |  |  | $ | 20.4 |  |  | $ | 1,820.4 |
_________________________________ (1) Divestiture resulting from the Company's sale of the majority of the G&P business, $507.3 million is included within “Loss on sale of business” in the Company’s Consolidated Statements of Operations and $203.6 million was divested. Refer to Note 3 for additional information. Changes in the carrying amount of acquired intangible assets during 2024 and 2023 are summarized as follows (in millions):
Gross Carrying Amounts | Trademarks and Trade Names |  | Customer Relationships |  | Patents and Technology |  | Other |  | Total
Balance as of December 31, 2022 | $ | 191.8 |  |  | $ | 574.5 |  |  | $ | 150.6 |  |  | $ | 6.5 |  |  | $ | 923.4 |
Impairment charge | — |  |  | — |  |  | (5.1) |  |  | — |  |  | (5.1) |
Foreign currency translation | 2.5 |  |  | 6.2 |  |  | 2.7 |  |  | (0.2) |  |  | 11.2 |
Balance as of December 31, 2023 | 194.3 |  |  | 580.7 |  |  | 148.2 |  |  | 6.3 |  |  | 929.5 |
Acquisitions | 6.5 |  |  | 47.3 |  |  | 526.0 |  |  | 44.8 |  |  | 624.6 |
Divestiture | (122.7) |  |  | (434.4) |  |  | (59.2) |  |  | — |  |  | (616.3) |
Foreign currency translation | (3.0) |  |  | (14.5) |  |  | (10.3) |  |  | (0.2) |  |  | (28.0) |
Balance as of December 31, 2024 | $ | 75.1 |  |  | $ | 179.1 |  |  | $ | 604.7 |  |  | $ | 50.9 |  |  | $ | 909.8 |
Accumulated Amortization | Trademarks and Trade Names |  | Customer Relationships |  | Patents and Technology |  | Other |  | Total
Balance as of December 31, 2022 | $ | 103.3 |  |  | $ | 440.8 |  |  | $ | 101.5 |  |  | $ | 1.6 |  |  | $ | 647.2 |
Amortization expense | 10.0 |  |  | 36.8 |  |  | 10.8 |  |  | 0.1 |  |  | 57.7 |
Impairment charge | — |  |  | — |  |  | (1.0) |  |  | — |  |  | (1.0) |
Foreign currency translation | 1.2 |  |  | 5.8 |  |  | 2.0 |  |  | — |  |  | 9.0 |
Balance as of December 31, 2023 | 114.5 |  |  | 483.4 |  |  | 113.3 |  |  | 1.7 |  |  | 712.9 |
Amortization expense | 7.4 |  |  | 23.0 |  |  | 37.2 |  |  | 13.4 |  |  | 81.0 |
Divestiture | (74.2) |  |  | (383.7) |  |  | (49.3) |  |  | — |  |  | (507.2) |
Foreign currency translation | (2.1) |  |  | (13.1) |  |  | (6.2) |  |  | (0.2) |  |  | (21.6) |
Balance as of December 31, 2024 | $ | 45.6 |  |  | $ | 109.6 |  |  | $ | 95.0 |  |  | $ | 14.9 |  |  | $ | 265.1 |
Indefinite-Lived Intangible Assets |  | Trademarks and Trade Names
Balance as of December 31, 2022 |  | $ | 84.8 |
Foreign currency translation |  | 1.1 |
Balance as of December 31, 2023 |  | 85.9 |
Foreign currency translation |  | (2.1) |
Balance as of December 31, 2024 |  | $ | 83.8 |
For the years ended December 31, 2024, 2023 and 2022, amortization expense related to acquired intangible assets was $81.0 million, $57.7 million and $60.1 million, respectively. The Company estimates amortization of existing intangible assets will be $61.3 million in 2025, $61.0 million in 2026, $58.9 million in 2027, $57.0 million in 2028, and $54.3 million in 2029. External-use software, net, developed by the Company and marketed externally, was approximately $0.4 million and $6.3 million as of December 31, 2024 and 2023, respectively, and classified within “Intangible assets, net.” Additionally, $4.6 million of external-use software, net was divested as part of the sale of the majority of the Company's G&P business.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration