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GOODWILL AND INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill by Business Segment
An analysis of changes in the Company’s goodwill by business segment is as follows (in millions):
 MP    AWPTotal
Balance at December 31, 2023, gross
$217.5 $138.9 $356.4 
Accumulated impairment(23.2)(38.6)(61.8)
Balance at December 31, 2023, net
194.3 100.3 294.6 
Foreign exchange effect and other(2.2)(0.4)(2.6)
Balance at March 31, 2024, gross
215.3 138.5 353.8 
Accumulated impairment(23.2)(38.6)(61.8)
Balance at March 31, 2024, net
$192.1 $99.9 $292.0 
Schedule of Intangible Assets by Class
Intangible assets, net were comprised of the following (in millions):
March 31, 2024December 31, 2023
Weighted Average Life
(in years)
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-lived intangible assets:
Technology7$9.4 $(9.3)$0.1 $9.6 $(9.5)$0.1 
Customer Relationships1735.2 (28.9)6.3 35.5 (28.7)6.8 
Land Use Rights
803.9 (0.8)3.1 3.9 (0.8)3.1 
Other930.1 (24.8)5.3 30.3 (24.6)5.7 
Total definite-lived intangible assets
$78.6 $(63.8)$14.8 $79.3 $(63.6)$15.7 
Finite-lived Intangible Assets Amortization Expense
Three Months Ended
March 31,
(in millions)20242023
Aggregate Amortization Expense$0.6 $0.8 
Schedule of Intangible Assets Amortization Expense
Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions):
2024$2.4 
20252.3 
20262.1 
20272.1 
20281.2