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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Other Intangible Assets [Abstract] |
Goodwill | The balance of goodwill by reporting unit and the activity occurring in the past two fiscal years is as follows:
(millions of dollars) |  | Consumer & Specialties |  |  | Engineered Solutions |  |  | Consolidated |
Balance at December 31, 2021 |  | $ | 337.9 |  |  | $ | 569.6 |  |  | $ | 907.5 |
Change in goodwill relating to: |  |  |  |  |  |  |  |  |  |  |  |
Concept Pet acquisition |  |  | 9.2 |  |  |  | — |  |  |  | 9.2 |
Foreign exchange translation |  |  | (0.7 | ) |  |  | (1.2 | ) |  |  | (1.9 | )
Total Changes |  | $ | 8.5 |  |  | $ | (1.2 | ) |  | $ | 7.3 |
Balance at December 31, 2022 |  | $ | 346.4 |  |  | $ | 568.4 |  |  | $ | 914.8 |
Change in goodwill relating to: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange translation |  |  | (1.2 | ) |  |  | — |  |  |  | (1.2 | )
Total Changes |  | $ | (1.2 | ) |  | $ | — |  |  | $ | (1.2 | )
Balance at December 31, 2023 |  | $ | 345.2 |  |  | $ | 568.4 |  |  | $ | 913.6 |
Acquired Intangible Assets Subject to Amortization | Acquired intangible assets subject to amortization as of December 31, 2023 and December 31, 2022 were as follows:
|  |  |  |  | December 31, 2023 |  |  | December 31, 2022 |
|  | Weighted Average Useful Life (Years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Tradenames |  |  | 34 |  |  | $ | 221.5 |  |  | $ | 59.1 |  |  | $ | 221.2 |  |  | $ | 52.2 |
Technology |  |  | 13 |  |  |  | 18.8 |  |  |  | 14.2 |  |  |  | 18.8 |  |  |  | 12.6 |
Patents and trademarks |  |  | 19 |  |  |  | 6.4 |  |  |  | 6.4 |  |  |  | 6.4 |  |  |  | 6.4 |
Customer relationships |  |  | 21 |  |  |  | 79.0 |  |  |  | 15.0 |  |  |  | 78.4 |  |  |  | 11.7 |
|  |  | 29 |  |  | $ | 325.7 |  |  | $ | 94.7 |  |  | $ | 324.8 |  |  | $ | 82.9 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
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