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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Changes in goodwill during the years ended December 31, 2023 and 2022, were as follows:
(In thousands) | 2023 |  | 2022
Balance at January 1 | $ | 620,622 |  |  | $ | 636,858 |
Measurement period adjustment | — |  |  | (1,041) |
Currency translation | 6,912 |  |  | (15,195) |
Balance at December 31 | $ | 627,534 |  |  | $ | 620,622 |
At December 31, 2023, goodwill of $447.6 million and $179.9 million related to the Americas and International reportable segments, respectively. Changes in intangible assets, net of accumulated amortization, during the years ended December 31, 2023 and 2022, were as follows:
(In thousands) | 2023 |  | 2022
Net balance at January 1 | $ | 281,853 |  |  | $ | 306,948 |
Amortization expense | (18,085) |  |  | (19,137) |
Currency translation | 2,366 |  |  | (5,958) |
Net balance at December 31 | $ | 266,134 |  |  | $ | 281,853 |
(In millions) |  | December 31, 2023 |  | December 31, 2022
Intangible Assets: | Weighted Average Useful Life (years) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | 19 | $ | 181.8 |  |  | $ | (46.5) |  |  | $ | 135.3 |  |  | $ | 178.7 |  |  | $ | (35.3) |  |  | $ | 143.4 |
Distribution agreements | 20 | 66.0 |  |  | (30.2) |  |  | 35.8 |  |  | 65.8 |  |  | (26.9) |  |  | 38.9 |
Technology related assets | 8 | 49.9 |  |  | (32.7) |  |  | 17.2 |  |  | 49.5 |  |  | (29.3) |  |  | 20.2 |
Patents, trademarks and copyrights | 16 | 34.5 |  |  | (16.8) |  |  | 17.7 |  |  | 34.0 |  |  | (14.8) |  |  | 19.2 |
License agreements | 5 | 5.4 |  |  | (5.4) |  |  | — |  |  | 5.4 |  |  | (5.3) |  |  | 0.1 |
Other | 3 | 3.4 |  |  | (3.3) |  |  | 0.1 |  |  | 3.3 |  |  | (3.2) |  |  | 0.1 |
Total | 17 | $ | 341.0 |  |  | $ | (134.9) |  |  | $ | 206.1 |  |  | $ | 336.7 |  |  | $ | (114.8) |  |  | $ | 221.9 |
At December 31, 2023, the above intangible assets balance includes a trade name related to the Globe acquisition with an indefinite life totaling $60.0 million. Intangible asset amortization expense over the next five years is expected to be approximately $17.9 million in 2024, $17.7 million in 2025, $17.3 million in 2026, $17.2 million in 2027, and $17.0 million in 2028.

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- 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
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