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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2024
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. The changes in the carrying amount of goodwill were as follows:
| Goodwill |  | Accumulated Impairment Losses |  | Total
Balance as of December 31, 2024 | $ | 218.1 |  |  | $ | (32.5) |  |  | $ | 185.6 |
Additions | 9.4 |  |  | — |  |  | 9.4 |
Foreign currency fluctuations | (12.0) |  |  | 0.8 |  |  | (11.2) |
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 |
There has been no impairment of goodwill for any of the years presented. The additions recorded to goodwill during 2024 were related to the acquisition of TCS, as described further in Note 5. The balances of acquired intangible assets, excluding goodwill, were as follows:
| Customer Lists |  | Trade Names |  | Technology |  | Total
Balance as of December 31, 2024 |  |  |  |  |  |  |
Original cost | $ | 154.6 |  |  | $ | 27.6 |  |  | $ | 15.2 |  |  | $ | 197.4 |
Accumulated amortization | (104.9) |  |  | (20.8) |  |  | (13.0) |  |  | (138.7) |
Carrying amount | $ | 49.7 |  |  | $ | 6.8 |  |  | $ | 2.2 |  |  | $ | 58.7 |
Weighted-average original life (in years) | 15 |  | 11 |  | 11 |  |
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 |  |
As part of our acquisition of TCS, we acquired customer lists and backlog with a combined fair value of $13.8 million. Further details regarding the purchase price allocation of TCS are described further in Note 5. Amortization expense of intangible assets was $15.0 million, $14.7 million and $15.9 million for the years ended December 31, 2024, 2023 and 2022, 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:
2025 | $ | 12.6 |
2026 | 11.4 |
2027 | 8.2 |
2028 | 6.6 |
2029 | 6.0 |
Thereafter | 13.9 |
Total | $ | 58.7 |

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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 + Details
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