XML 48 R15.htm IDEA: XBRL DOCUMENT
v3.25.1

Goodwill and Other Intangibles Assets | 3 Months Ended
--- | ---
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS The following table summarizes the carrying amount of goodwill, and the changes in the carrying amount of goodwill in the three months ended March 31, 2025, by segment:
(in millions) | Environmental Solutions |  | Safety & Security Systems |  | Total
Balance at January 1, 2025 | $ | 368.8 |  |  | $ | 108.9 |  |  | $ | 477.7 |
Acquisitions, including measurement period adjustments | 34.9 |  |  | — |  |  | 34.9 |
Translation adjustments | — |  |  | 1.4 |  |  | 1.4 |
Balance at March 31, 2025 | $ | 403.7 |  |  | $ | 110.3 |  |  | $ | 514.0 |
The following table summarizes the gross carrying amount and accumulated amortization of intangible assets for each major class of intangible assets:
| March 31, 2025 |  | December 31, 2024
(in millions) | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships (a) | $ | 182.2 |  |  | $ | (84.7) |  |  | $ | 97.5 |  |  | $ | 165.7 |  |  | $ | (80.7) |  |  | $ | 85.0 |
Other (a) | 10.7 |  |  | (5.2) |  |  | 5.5 |  |  | 7.2 |  |  | (4.9) |  |  | 2.3 |
Total definite-lived intangible assets | 192.9 |  |  | (89.9) |  |  | 103.0 |  |  | 172.9 |  |  | (85.6) |  |  | 87.3 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Trade names | 118.7 |  |  | — |  |  | 118.7 |  |  | 108.1 |  |  | — |  |  | 108.1 |
Other | 4.3 |  |  | — |  |  | 4.3 |  |  | 4.3 |  |  | — |  |  | 4.3 |
Total indefinite-lived intangible assets | 123.0 |  |  | — |  |  | 123.0 |  |  | 112.4 |  |  | — |  |  | 112.4 |
Total intangible assets | $ | 315.9 |  |  | $ | (89.9) |  |  | $ | 226.0 |  |  | $ | 285.3 |  |  | $ | (85.6) |  |  | $ | 199.7 |
(a) Average useful life of customer relationships and other definite-lived intangible assets are estimated to be approximately 11 years and 6 years, respectively. The average useful life across all definite-lived intangible assets is estimated to be approximately 11 years. The table above includes preliminary estimates of the fair value and useful lives of certain definite and indefinite-lived intangible assets related to the acquisitions of Hog, which was acquired during the first quarter of 2025, and Standard Equipment Company (“Standard”), which was acquired during the fourth quarter of 2024. As further described in Note 2 – Acquisitions, the preliminary measurements of fair value included in the table above are subject to change during the measurement period as the applicable third-party valuations are finalized. Amortization expense was $4.3 million for the three months ended March 31, 2025 and $3.6 million for the three months ended March 31, 2024. The Company currently estimates that aggregate amortization expense will be approximately $13.4 million for the remainder of 2025, $17.7 million in 2026, $17.0 million in 2027, $16.4 million in 2028, $11.0 million in 2029, and $27.5 million thereafter. Actual amounts of amortization may differ from estimated amounts due to changes in foreign currency rates, measurement period adjustments for the Hog and Standard acquisitions, impairment of intangible assets, and other events.

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://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration