XML 24 R13.htm IDEA: XBRL DOCUMENT
v3.24.2

GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
--- | ---
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | 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, 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 | (2.7) |  |  | (0.6) |  |  | (3.3) |
Balance at June 30, 2024, gross | 214.8 |  |  | 138.3 |  |  | 353.1 |
Accumulated impairment | (23.2) |  |  | (38.6) |  |  | (61.8) |
Balance at June 30, 2024, net | $ | 191.6 |  |  | $ | 99.7 |  |  | $ | 291.3 |
Intangible assets, net were comprised of the following (in millions):
|  |  | June 30, 2024 |  | December 31, 2023
| 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 |  |  | $ | (9.2) |  |  | $ | 0.2 |  |  | $ | 9.6 |  |  | $ | (9.5) |  |  | $ | 0.1 |
Customer Relationships | 17 |  | 35.1 |  |  | (29.2) |  |  | 5.9 |  |  | 35.5 |  |  | (28.7) |  |  | 6.8 |
Land Use Rights | 80 |  | 3.9 |  |  | (0.8) |  |  | 3.1 |  |  | 3.9 |  |  | (0.8) |  |  | 3.1 |
Other | 9 |  | 29.9 |  |  | (25.0) |  |  | 4.9 |  |  | 30.3 |  |  | (24.6) |  |  | 5.7 |
Total definite-lived intangible assets |  |  | $ | 78.3 |  |  | $ | (64.2) |  |  | $ | 14.1 |  |  | $ | 79.3 |  |  | $ | (63.6) |  |  | $ | 15.7 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Aggregate Amortization Expense | $ | 0.6 |  |  | $ | 0.6 |  |  | $ | 1.2 |  |  | $ | 1.4 |
Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions):
2024 | $ | 2.4 |
2025 | 2.3 |
2026 | 2.1 |
2027 | 2.1 |
2028 | 1.2 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482548/350-20-55-24 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-20/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-2 + Details
Name: | us-gaap_GoodwillDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration