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Goodwill and Intangibles | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | GOODWILL AND INTANGIBLES Goodwill The change in carrying amount of goodwill by reporting segment was as follows (in millions):
| Installation |  | Other |  | Consolidated
Goodwill (gross) - January 1, 2024 | $ | 375.2 |  |  | $ | 93.6 |  |  | $ | 468.8 |
Business combinations | 15.6 |  |  | 0.6 |  |  | 16.2 |
Other adjustments | 0.1 |  |  | — |  |  | 0.1 |
Goodwill (gross) - September 30, 2024 | 390.9 |  |  | 94.2 |  |  | 485.1 |
Accumulated impairment losses | (70.0) |  |  | — |  |  | (70.0) |
Goodwill (net) - September 30, 2024 | $ | 320.9 |  |  | $ | 94.2 |  |  | $ | 415.1 |
Other adjustments presented in the above table primarily include one immaterial acquisition and adjustments for the allocation of certain acquisitions still under measurement made during the nine months ended September 30, 2024. We test goodwill for impairment annually during the fourth quarter of our fiscal year or earlier if there is an impairment indicator. The accumulated impairment losses included within the above table were all associated with the Installation segment and substantially all of the impairment losses were recorded prior to the year ended December 31, 2010. During the nine months ended September 30, 2024, we made the determination to wind down one of our branches. The fair value of the impaired goodwill associated with this branch was not material. Intangibles, net The following table provides the gross carrying amount, accumulated amortization and net book value for each major class of intangibles (in millions):
| As of September 30, |  | As of December 31,
| 2024 |  | 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value
Amortized intangibles: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 369.4 |  |  | $ | 199.8 |  |  | $ | 169.6 |  |  | $ | 357.4 |  |  | $ | 177.8 |  |  | $ | 179.6 |
Covenants not-to-compete | 33.1 |  |  | 26.3 |  |  | 6.8 |  |  | 32.1 |  |  | 23.7 |  |  | 8.4 |
Trademarks and tradenames | 132.6 |  |  | 53.2 |  |  | 79.4 |  |  | 128.0 |  |  | 47.4 |  |  | 80.6 |
Backlog | 21.6 |  |  | 21.6 |  |  | — |  |  | 21.6 |  |  | 21.5 |  |  | 0.1 |
| $ | 556.7 |  |  | $ | 300.9 |  |  | $ | 255.8 |  |  | $ | 539.1 |  |  | $ | 270.4 |  |  | $ | 268.7 |
The gross carrying amount of intangibles increased during the nine months ended September 30, 2024 primarily due to business combinations, offset by a $4.6 million intangible impairment charge related to the wind down of a single branch. For more information on business combinations and asset impairments, see Note 17, Business Combinations and Note 9, Fair Value Measurements, respectively. Remaining estimated aggregate annual amortization expense is as follows (amounts, in millions, are for the fiscal year ended):
Remainder of 2024 | $ | 10.4 |
2025 | 36.9 |
2026 | 32.9 |
2027 | 28.6 |
2028 | 25.2 |
Thereafter | 121.8 |

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- 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
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