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Goodwill and Identifiable Intangible Assets, net | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Identifiable Intangible Assets, net | Goodwill and Identifiable Intangible Assets, net Goodwill We review goodwill for impairment on a reporting unit basis annually during the fourth quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Since the date of our last annual goodwill impairment assessment, there have been no significant events or circumstances that have indicated a potential for impairment. Allocation of Goodwill to Reporting Segment The following table shows our goodwill balances by reportable segment:
(In millions) |  | Food |  | Protective |  | Total
Gross Carrying Value at December 31, 2024 |  | $ | 1,277.9 |  |  | $ | 1,790.2 |  |  | $ | 3,068.1 |
Accumulated amortization(1) |  | (48.9) |  |  | (140.7) |  |  | (189.6) |
Carrying Value at December 31, 2024 |  | $ | 1,229.0 |  |  | $ | 1,649.5 |  |  | $ | 2,878.5 |
Currency translation |  | 10.1 |  |  | 13.9 |  |  | 24.0 |
Carrying Value at June 30, 2025 |  | $ | 1,239.1 |  |  | $ | 1,663.4 |  |  | $ | 2,902.5 |
(1)There was no change to our accumulated amortization balance during the six months ended June 30, 2025. Identifiable Intangible Assets, net The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of June 30, 2025, there were no impairment indicators present.
| June 30, 2025 |  | December 31, 2024
(In millions) | Gross Carrying Value |  | Accumulated Amortization |  |  |  | Net |  | Gross Carrying Value |  | Accumulated Amortization |  |  |  | Net
Customer relationships | $ | 288.5 |  |  | $ | (103.6) |  |  |  |  | $ | 184.9 |  |  | $ | 284.0 |  |  | $ | (89.9) |  |  |  |  | $ | 194.1 |
Trademarks and tradenames | 56.9 |  |  | (26.5) |  |  |  |  | 30.4 |  |  | 56.5 |  |  | (23.9) |  |  |  |  | 32.6 |
Software | 159.9 |  |  | (139.6) |  |  |  |  | 20.3 |  |  | 156.3 |  |  | (131.5) |  |  |  |  | 24.8 |
Technology | 198.4 |  |  | (85.8) |  |  |  |  | 112.6 |  |  | 196.2 |  |  | (75.9) |  |  |  |  | 120.3 |
Contracts | 11.5 |  |  | (10.8) |  |  |  |  | 0.7 |  |  | 11.4 |  |  | (10.5) |  |  |  |  | 0.9 |
Total intangible assets with definite lives | 715.2 |  |  | (366.3) |  |  |  |  | 348.9 |  |  | 704.4 |  |  | (331.7) |  |  |  |  | 372.7 |
Trademarks and tradenames with indefinite lives | 8.9 |  |  | — |  |  |  |  | 8.9 |  |  | 8.9 |  |  | — |  |  |  |  | 8.9 |
Total identifiable intangible assets, net | $ | 724.1 |  |  | $ | (366.3) |  |  |  |  | $ | 357.8 |  |  | $ | 713.3 |  |  | $ | (331.7) |  |  |  |  | $ | 381.6 |
The following table shows the remaining estimated future amortization expense at June 30, 2025.
Year |  | Amount (In millions)
Remainder of 2025 |  | $ | 29.2 |
2026 |  | 48.2 |
2027 |  | 43.1 |
2028 |  | 40.5 |
2029 |  | 38.1 |
Thereafter |  | 149.8 |
Total |  | $ | 348.9 |
Expected future cash flows associated with the Company's intangible assets are not expected to be materially affected by the Company's intent or ability to renew or extend the arrangements. Based on our experience with similar agreements, we expect to continue to renew contracts held as intangibles through the end of their remaining useful lives.

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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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