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Goodwill and Identifiable Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

The following table summarizes the activity related to the carrying amount of goodwill by reportable segment since December 31, 2022 (in millions). See Note 14. Segment Reporting for more information on the Company's reportable segments.

			Commercial						Federal Government						Total
Balance as of December 31, 2022			$	1,074.7					$	817.2					$	1,891.9
Purchase price adjustment			—						1.1						1.1
Translation adjustment			1.1						—						1.1
Balance as of December 31, 2023			1,075.8						818.3						1,894.1
Translation adjustment			(1.0)						—						(1.0)
Balance as of December 31, 2024			$	1,074.8					$	818.3					$	1,893.1

Acquired intangible assets consisted of the following (in millions):

												December 31, 2024																		December 31, 2023
						Estimated Useful Life (in years)						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Subject to amortization:
Customer and contractual relationships						7 - 13						$	405.3					$	245.0					$	160.3					$	496.0					$	282.0					$	214.0
Non-compete agreements						2 - 7						21.4						14.7						6.7						29.3						18.2						11.1
												426.7						259.7						167.0						525.3						300.2						225.1
Not subject to amortization:
Trademarks												272.8						—						272.8						272.8						—						272.8
												$	699.5					$	259.7					$	439.8					$	798.1					$	300.2					$	497.9

The Company removed gross and accumulated amortization balances related to intangible assets that are fully amortized as of December 31, 2024 and 2023.

Estimated future amortization expense is as follows (in millions):

2025			$	50.8
2026			43.8
2027			33.4
2028			17.9
2029			13.1
Thereafter			8.0
			$	167.0

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- References

No definition available.

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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

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