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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes in Goodwill | Changes in goodwill during the years ended December 31, 2024 and 2023, were as follows:
(In thousands) | 2024 |  | 2023
Balance at January 1 | $ | 627,534 |  |  | $ | 620,622 |
Currency translation | (6,639) |  |  | 6,912 |
Balance at December 31 | $ | 620,895 |  |  | $ | 627,534 |
Schedule of Finite-Lived Intangible Assets | Changes in intangible assets, net of accumulated amortization, during the years ended December 31, 2024 and 2023, were as follows:
(In thousands) | 2024 |  | 2023
Net balance at January 1 | $ | 266,134 |  |  | $ | 281,853 |
Amortization expense | (17,826) |  |  | (18,085) |
Currency translation | (1,871) |  |  | 2,366 |
Net balance at December 31 | $ | 246,437 |  |  | $ | 266,134 |
(In millions) |  | December 31, 2024 |  | December 31, 2023
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 | $ | 179.7 |  |  | $ | (55.7) |  |  | $ | 124.0 |  |  | $ | 181.8 |  |  | $ | (46.5) |  |  | $ | 135.3 |
Distribution agreements | 20 | 65.7 |  |  | (33.3) |  |  | 32.4 |  |  | 66.0 |  |  | (30.2) |  |  | 35.8 |
Technology related assets | 8 | 49.6 |  |  | (35.5) |  |  | 14.1 |  |  | 49.9 |  |  | (32.7) |  |  | 17.2 |
Patents, trademarks and copyrights | 16 | 34.1 |  |  | (18.2) |  |  | 15.9 |  |  | 34.5 |  |  | (16.8) |  |  | 17.7 |
License agreements | 5 | 5.4 |  |  | (5.4) |  |  | — |  |  | 5.4 |  |  | (5.4) |  |  | — |
Other | 2 | 2.8 |  |  | (2.8) |  |  | — |  |  | 3.4 |  |  | (3.3) |  |  | 0.1 |
Total | 17 | $ | 337.3 |  |  | $ | (150.9) |  |  | $ | 186.4 |  |  | $ | 341.0 |  |  | $ | (134.9) |  |  | $ | 206.1 |
Schedule of Indefinite-Lived Intangible Assets | Changes in intangible assets, net of accumulated amortization, during the years ended December 31, 2024 and 2023, were as follows:
(In thousands) | 2024 |  | 2023
Net balance at January 1 | $ | 266,134 |  |  | $ | 281,853 |
Amortization expense | (17,826) |  |  | (18,085) |
Currency translation | (1,871) |  |  | 2,366 |
Net balance at December 31 | $ | 246,437 |  |  | $ | 266,134 |
(In millions) |  | December 31, 2024 |  | December 31, 2023
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 | $ | 179.7 |  |  | $ | (55.7) |  |  | $ | 124.0 |  |  | $ | 181.8 |  |  | $ | (46.5) |  |  | $ | 135.3 |
Distribution agreements | 20 | 65.7 |  |  | (33.3) |  |  | 32.4 |  |  | 66.0 |  |  | (30.2) |  |  | 35.8 |
Technology related assets | 8 | 49.6 |  |  | (35.5) |  |  | 14.1 |  |  | 49.9 |  |  | (32.7) |  |  | 17.2 |
Patents, trademarks and copyrights | 16 | 34.1 |  |  | (18.2) |  |  | 15.9 |  |  | 34.5 |  |  | (16.8) |  |  | 17.7 |
License agreements | 5 | 5.4 |  |  | (5.4) |  |  | — |  |  | 5.4 |  |  | (5.4) |  |  | — |
Other | 2 | 2.8 |  |  | (2.8) |  |  | — |  |  | 3.4 |  |  | (3.3) |  |  | 0.1 |
Total | 17 | $ | 337.3 |  |  | $ | (150.9) |  |  | $ | 186.4 |  |  | $ | 341.0 |  |  | $ | (134.9) |  |  | $ | 206.1 |

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