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Goodwill and Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

6. Goodwill and Identifiable Intangible Assets

Goodwill

The following table provides information regarding changes in goodwill (in millions):

			Aviation Segment												Land Segment						Total
As of December 31, 2022			$	397.6											$	835.3					$	1,233.0
2023 acquisitions (1)			—												3.0						3.1
Adjustment for sale of business			—												(4.0)						(4.0)
Foreign currency translation of non-USD functional currency subsidiary goodwill			0.6												5.3						5.9
As of December 31, 2023			398.3												839.7						1,238.0
2024 acquisitions (1)			17.5												—						17.5
Adjustment for sale of business (2)			(59.5)												(8.7)						(68.2)
Foreign currency translation of non-USD functional currency subsidiary goodwill			(1.9)												(3.8)						(5.6)
As of December 31, 2024			$	354.4											$	827.3					$	1,181.7

(1)During the years ended December 31, 2024 and 2023, we completed acquisitions that did not have a material impact on our Consolidated Financial Statements.

(2)See Note 3. Acquisitions and Divestitures for additional information.

Identifiable Intangible Assets

The following table provides information about our identifiable intangible assets (in millions):

			As of December 31, 2024																		As of December 31, 2023
			Gross Carrying Amount						Accumulated Amortization (1)						Net						Gross Carrying Amount						Accumulated Amortization (1)						Net
Intangible assets subject to amortization:
Customer relationships			$	504.1					$	339.8					$	164.3					$	512.4					$	322.6					$	189.8
Supplier agreements			69.0						35.4						33.6						69.0						30.2						38.8
Others			43.5						25.1						18.4						55.2						34.6						20.6
Total intangible assets subject to amortization			616.6						400.3						216.3						636.5						387.4						249.2
Intangible assets not subject to amortization:
Trademark / trade name rights			44.9						—						44.9						50.5						—						50.5
Total intangible assets			$	661.5					$	400.3					$	261.2					$	687.1					$	387.4					$	299.7

(1)Includes the impact of foreign exchange.

Intangible amortization expense for 2024, 2023 and 2022 was $34.1 million, $36.2 million and $43.4 million, respectively.

The future estimated amortization of our identifiable intangible assets is as follows (in millions):

Year Ended December 31,
2025			$	32.8
2026			28.3
2027			23.8
2028			21.4
2029			21.1
Thereafter			88.9
Total			$	216.3

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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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