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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table presents the changes in the carrying value of our goodwill (in millions of dollars):
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Gross carrying value 1 |  | $ | 57.7 |  |  | $ | 57.7 |
Accumulated impairment loss 1 |  |  | (38.9 | ) |  |  | (38.9 | )
Net carrying value |  | $ | 18.8 |  |  | $ | 18.8 |
1. The gross carrying value and accumulated impairment loss excludes $25.2 million of goodwill recorded in conjunction with our acquisition of IMT.
Schedule of Gross Carrying Amount and Accumulated Amortization By Major Intangible Asset Class | The following table presents the gross carrying amount and accumulated amortization by major intangible asset class (in millions of dollars, except amortization periods):
|  | Weighted- Average Amortization Period (in years) |  |  | Gross Amount |  |  | Accumulated Amortization |  |  | Intangible Assets, Net |
As of December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  |  | 19 |  |  | $ | 68.1 |  |  | $ | (30.3 | ) |  | $ | 37.8 |
Trade name |  |  | 10 |  |  |  | 2.4 |  |  |  | (1.5 | ) |  |  | 0.9 |
Non-compete agreement |  |  | 5 |  |  |  | 5.4 |  |  |  | (5.4 | ) |  |  | — |
Favorable lease contracts |  |  | 120 |  |  |  | 7.0 |  |  |  | (0.2 | ) |  |  | 6.8 |
Total |  |  | 26 |  |  | $ | 82.9 |  |  | $ | (37.4 | ) |  | $ | 45.5 |
As of December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  |  | 19 |  |  | $ | 68.1 |  |  | $ | (26.1 | ) |  | $ | 42.0 |
Trade name |  |  | 10 |  |  |  | 2.4 |  |  |  | (1.2 | ) |  |  | 1.2 |
Non-compete agreement |  |  | 5 |  |  |  | 5.4 |  |  |  | (5.4 | ) |  |  | — |
Favorable lease contracts |  |  | 120 |  |  |  | 7.0 |  |  |  | (0.2 | ) |  |  | 6.8 |
Total |  |  | 26 |  |  | $ | 82.9 |  |  | $ | (32.9 | ) |  | $ | 50.0 |
Schedule of Expected Amortization of Intangible Assets | The following table presents the expected amortization of intangible assets for each of the next five calendar years and thereafter as of December 31, 2024 (in millions of dollars):
2025 |  | $ | 4.5 |
2026 |  |  | 4.5 |
2027 |  |  | 4.5 |
2028 |  |  | 4.4 |
2029 |  |  | 4.1 |
Thereafter |  |  | 23.5 |
Total |  | $ | 45.5 |

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