GOODWILL AND INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2023

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, 2022, gross	$	208.2	$	138.0	$	346.2
Accumulated impairment	(23.2)		(38.6)		(61.8)
Balance at December 31, 2022, net	185.0		99.4		284.4


Foreign exchange effect and other	2.5		0.3		2.8
Balance at March 31, 2023, gross	210.7		138.3		349.0
Accumulated impairment	(23.2)		(38.6)		(61.8)
Balance at March 31, 2023, net	$	187.5	$	99.7	$	287.2

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


		March 31, 2023						December 31, 2022
	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	$	9.4	$	(9.3)	$	0.1	$	9.3	$	(9.2)	$	0.1
Customer Relationships	17	35.0		(27.4)		7.6		34.8		(26.8)		8.0
Land Use Rights	79	4.0		(0.8)		3.2		4.0		(0.8)		3.2
Other	8	29.8		(23.9)		5.9		29.8		(23.7)		6.1
Total definite-lived intangible assets		$	78.2	$	(61.4)	$	16.8	$	77.9	$	(60.5)	$	17.4


	Three Months Ended March 31,
(in millions)		2023		2022
Aggregate Amortization Expense		$	0.8	$	0.6

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