XML 34 R18.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Goodwill and Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets For purposes of performing our goodwill impairment analysis, we have identified our reporting units as North America, Latin America, EMEA and APAC. In 2021, the Coatings reporting unit was sold and is no longer considered a reporting unit. We have the option of first analyzing qualitative factors to determine whether it is more likely than not that the fair value of any reporting unit is less than its carrying amount. We may elect to perform a quantitative goodwill impairment test in lieu of the qualitative test, and in 2023 we performed the qualitative goodwill test on all reporting units. In 2022, we elected to perform the quantitative goodwill test on all reporting units. Based on our analysis, we determined that there was no impairment of goodwill as of December 31, 2023 and 2022. The changes in the carrying amount of goodwill are as follows:
| Goodwill |  | Accumulated Impairment Losses |  | Total
Balance as of December 31, 2023 | $ | 220.7 |  |  | $ | (33.3) |  |  | $ | 187.4 |
Foreign currency fluctuations | 1.9 |  |  | 3.5 |  |  | 5.4 |
Balance as of December 31, 2022 | $ | 218.8 |  |  | $ | (36.8) |  |  | $ | 182.0 |
Foreign currency fluctuations | (15.1) |  |  | 4.0 |  |  | (11.1) |
Balance as of December 31, 2021 | $ | 233.9 |  |  | $ | (40.8) |  |  | $ | 193.1 |
The balances of acquired intangible assets, excluding goodwill, are as follows:
| Customer Lists |  | Trade Names |  | Technology |  | Total
Balance as of December 31, 2023 |  |  |  |  |  |  |
Original cost | $ | 150.6 |  |  | $ | 29.3 |  |  | $ | 16.3 |  |  | $ | 196.2 |
Accumulated amortization | (100.8) |  |  | (19.2) |  |  | (13.1) |  |  | (133.1) |
Carrying amount | $ | 49.8 |  |  | $ | 10.1 |  |  | $ | 3.2 |  |  | $ | 63.1 |
Weighted-average original life (in years) | 15 |  | 11 |  | 11 |  |
Balance as of December 31, 2022 |  |  |  |  |  |  |
Original cost | $ | 146.6 |  |  | $ | 28.6 |  |  | $ | 15.9 |  |  | $ | 191.1 |
Accumulated amortization | (87.5) |  |  | (15.9) |  |  | (11.3) |  |  | (114.7) |
Carrying amount | $ | 59.1 |  |  | $ | 12.7 |  |  | $ | 4.6 |  |  | $ | 76.4 |
Weighted-average original life (in years) | 15 |  | 11 |  | 11 |  |
In 2021, we divested identified intangible assets, excluding goodwill, with a carrying value of $0.9 million and $1.4 million in the categories of customer lists and trade names, respectively, as a result of the sale of the Coatings business discussed in Note 5. Amortization expense of intangible assets was $14.7 million, $15.9 million and $20.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated aggregate amortization expense based on the current carrying amount of amortizable intangible assets for each of the five succeeding years is as follows:
2024 | $ | 13.4 |
2025 | 12.0 |
2026 | 10.7 |
2027 | 7.3 |
2028 | 5.6 |
Thereafter | 14.1 |
Total | $ | 63.1 |

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 and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration