Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the three months ended March 31, 2024 were as follows:


	Goodwill		Accumulated Impairment Losses		Total
Balance as of December 31, 2023	$	220.7	$	(33.3)	$	187.4
Additions	8.4		—		8.4
Foreign currency fluctuations	(3.9)		0.3		(3.6)
Balance as of March 31, 2024	$	225.2	$	(33.0)	$	192.2

The balances of acquired intangible assets, excluding goodwill, were as follows:


	Customer Lists		Trade Names		Technology		Total
Balance as of March 31, 2024
Original cost	$	161.7	$	28.7	$	16.1	$	206.5
Accumulated amortization	(101.5)		(19.5)		(13.2)		(134.2)
Carrying value	$	60.2	$	9.2	$	2.9	$	72.3
Weighted average original life (in years)	14		10		12

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 value	$	49.8	$	10.1	$	3.2	$	63.1
Weighted average original life (in years)	15		11		11

The additions to Goodwill recorded during the first quarter of 2024 were related to our acquisition of TCS, as described further in Note 5.

As part of our acquisition of TCS, we acquired customer lists and backlog with a combined preliminary fair value of $14.2 million. Further details regarding the preliminary purchase price allocation of TCS are described further in Note 5.

Amortization expense on intangible assets for the three months ended March 31, 2024 and March 31, 2023 was $3.9 million.

Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets for each of the five succeeding years and thereafter is as follows:


Remaining 2024	$	11.2
2025	13.1
2026	11.9
2027	8.6
2028	6.9
Thereafter	20.6
Total	$	72.3