GOODWILL AND INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2022

GOODWILL AND INTANGIBLE ASSETS

An analysis of changes in the Company’s goodwill by business segment is as follows (in millions):


	MP		AWP		Total
Balance at December 31, 2021, gross	$	202.2	$	139.7	$	341.9
Accumulated impairment	(23.2)		(38.6)		(61.8)
Balance at December 31, 2021, net	179.0		101.1		280.1


Foreign exchange effect and other	(4.1)		(0.6)		(4.7)
Balance at March 31, 2022, gross	198.1		139.1		337.2
Accumulated impairment	(23.2)		(38.6)		(61.8)
Balance at March 31, 2022, net	$	174.9	$	100.5	$	275.4

Intangible assets, net were comprised of the following (in millions):


		March 31, 2022						December 31, 2021
	Weighted Average Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets:
Technology	7	$	9.6	$	(9.5)	$	0.1	$	9.8	$	(9.7)	$	0.1
Customer Relationships	19	31.6		(25.6)		6.0		31.9		(25.4)		6.5
Land Use Rights	79	4.3		(0.8)		3.5		4.4		(0.8)		3.6
Other	8	26.2		(23.1)		3.1		26.3		(23.1)		3.2
Total definite-lived intangible assets		$	71.7	$	(59.0)	$	12.7	$	72.4	$	(59.0)	$	13.4


	Three Months Ended March 31,
(in millions)		2022		2021
Aggregate Amortization Expense		$	0.6	$	0.4

Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions):