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INTANGIBLE ASSETS AND GOODWILL

9 Months Ended

Sep. 30, 2025

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL

NOTE 9. INTANGIBLE ASSETS AND GOODWILL

Intangible assets consisted of the following:


		September 30, 2025
		Gross Carrying			Accumulated			Net Carrying			Weighted Average Remaining
		Amount			Amortization			Amount			Useful Life (in years)

		(in millions)
Technology		$	101.7		$	(76.6)		$	25.1		6.6
Customer relationships			171.3			(82.9)			88.4		7.9
Trademarks and other			27.3			(17.7)			9.6		3.9
Total		$	300.3		$	(177.2)		$	123.1		7.3

		December 31, 2024
		Gross Carrying			Accumulated			Net Carrying			Weighted Average Remaining
		Amount			Amortization			Amount			Useful Life (in years)

		(in millions)
Technology		$	99.9		$	(70.0)		$	29.9		7.0
Customer relationships			168.9			(70.9)			98.0		8.5
Trademarks and other			27.1			(15.6)			11.5		4.6
Total		$	295.9		$	(156.5)		$	139.4		7.9

Amortization expense related to intangible assets is as follows:


		Three Months Ended September 30,						Nine Months Ended September 30,
		2025			2024			2025			2024

		(in millions)
Amortization expense		$	5.6		$	6.8		$	16.7		$	20.5

Estimated future amortization expense related to intangibles is as follows:


Year Ending December 31,			(in millions)
2025 (remaining)		$	5.5
2026			20.1
2027			17.8
2028			16.6
2029			15.0
Thereafter			48.1
Total		$	123.1

The following table summarizes the changes in goodwill:


		(in millions)
December 31, 2024		$	296.0
Foreign currency translation and other			4.7
September 30, 2025		$	300.7