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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill and other intangible assets, net of accumulated amortization, as of September 30, 2024 and December 31, 2023 were as follows (in millions):
| September 30, 2024 |  | December 31, 2023
Goodwill | $ | 399.1 |  |  | $ | 394.4 |
Other intangible assets, net | 559.0 |  |  | 512.0 |
Total goodwill and other intangible assets, net | $ | 958.1 |  |  | $ | 906.4 |
The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2024 and 2023 were as follows (in millions):
| Off Road |  | On Road |  | Marine |  | Total
Balance as of December 31, 2023 | $ | 116.6 |  |  | $ | 50.7 |  |  | $ | 227.1 |  |  | $ | 394.4 |
Goodwill acquired and related adjustments | 0.4 |  |  | — |  |  | 3.5 |  |  | 3.9 |
Currency translation effect on foreign goodwill balances | — |  |  | 0.8 |  |  | — |  |  | 0.8 |
Balance as of September 30, 2024 | $ | 117.0 |  |  | $ | 51.5 |  |  | $ | 230.6 |  |  | $ | 399.1 |
| Off Road |  | On Road |  | Marine |  | Total
Balance as of December 31, 2022 | $ | 110.7 |  |  | $ | 48.4 |  |  | $ | 227.1 |  |  | $ | 386.2 |
Goodwill acquired and related adjustments | 4.2 |  |  | — |  |  | — |  |  | 4.2 |
Currency translation effect on foreign goodwill balances | (0.3) |  |  | (0.7) |  |  | — |  |  | (1.0) |
Balance as of September 30, 2023 | $ | 114.6 |  |  | $ | 47.7 |  |  | $ | 227.1 |  |  | $ | 389.4 |
The components of other intangible assets were as follows ($ in millions):
|  |  | September 30, 2024
| Weighted-average useful life (years) |  | Cost | Accumulated amortization | Net
Amortizable - dealer/customer related | 19 |  | $ | 341.1 |  | $ | (110.4) |  | $ | 230.7 |
Amortizable - developed technology | 10 |  | 62.7 |  | (2.6) |  | 60.1 |
Non-amortizable - brand/trade names |  |  | 268.2 |  | — |  | 268.2 |
Total other intangible assets, net | 18 |  | $ | 672.0 |  | $ | (113.0) |  | $ | 559.0 |
|  |  | December 31, 2023
| Weighted-average useful life (years) |  | Cost | Accumulated amortization | Net
Amortizable - dealer/customer related | 19 |  | $ | 341.2 |  | $ | (97.2) |  | $ | 244.0 |
Non-amortizable - brand/trade names |  |  | 268.0 |  | — |  | 268.0 |
Total other intangible assets, net |  |  | $ | 609.2 |  | $ | (97.2) |  | $ | 512.0 |
The Company acquired certain developed technology assets during the second quarter of 2024, which resulted in the recording of a developed technology intangible asset for $62.7 million that is being amortized over an expected useful life of 10 years. All consideration for the assets was paid as of September 30, 2024. Amortization expense for other intangible assets was $6.0 million and $4.4 million for the three months ended September 30, 2024 and 2023, respectively, and $15.9 million and $13.3 million for the nine months ended September 30, 2024 and 2023, respectively. Estimated future amortization expense for identifiable other intangible assets during the next five years is as follows (in millions):
| Remainder 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Estimated amortization expense | $ | 6.0 |  |  | $ | 23.9 |  |  | $ | 23.9 |  |  | $ | 23.9 |  |  | $ | 23.9 |  |  | $ | 23.9 |
The preceding expected amortization expense is an estimate and actual amounts could differ due to additional other intangible asset acquisitions, changes in foreign currency rates, or impairments of other intangible assets.

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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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