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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 8. Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill as of June 30, 2024 is summarized as follows:
|  | Americas |  |  | MEAP |  |  | Consolidated |
Balance as of December 31, 2023 |  | $ | 14.4 |  |  | $ | 65.2 |  |  | $ | 79.6 |
Foreign currency impact |  |  | — |  |  |  | (0.7 | ) |  |  | (0.7 | )
Balance as of June 30, 2024 |  | $ | 14.4 |  |  | $ | 64.5 |  |  | $ | 78.9 |
The gross carrying amount, accumulated impairment and net book value of the Company's goodwill balances by reportable segment as of June 30, 2024 and December 31, 2023, are summarized as follows:
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Impairment Amount |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Impairment Amount |  |  | Net Book Value |
Americas |  | $ | 180.9 |  |  | $ | (166.5 | ) |  | $ | 14.4 |  |  | $ | 180.9 |  |  | $ | (166.5 | ) |  | $ | 14.4 |
EURAF |  |  | 82.2 |  |  |  | (82.2 | ) |  |  | — |  |  |  | 82.2 |  |  |  | (82.2 | ) |  |  | — |
MEAP |  |  | 64.5 |  |  |  | — |  |  |  | 64.5 |  |  |  | 65.2 |  |  |  | — |  |  |  | 65.2 |
Total |  | $ | 327.6 |  |  | $ | (248.7 | ) |  | $ | 78.9 |  |  | $ | 328.3 |  |  | $ | (248.7 | ) |  | $ | 79.6 |
The Company performs its annual goodwill impairment test during the fourth quarter, or more frequently if events or changes in circumstances indicate that there might be an impairment of the asset. The Company will continue to monitor changes in circumstances and test more frequently if those changes indicate that assets might be impaired. The Company determined there was no triggering event during the three and six months ended June 30, 2024. The gross carrying amount, accumulated amortization, and net book value of the Company’s other intangible assets other than goodwill as of June 30, 2024 and December 31, 2023, are summarized as follows:
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization Amount |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization Amount |  |  | Net Book Value |
Definite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 26.4 |  |  | $ | (12.4 | ) |  | $ | 14.0 |  |  | $ | 26.5 |  |  | $ | (11.6 | ) |  | $ | 14.9 |
Patents |  |  | 28.7 |  |  |  | (28.3 | ) |  |  | 0.4 |  |  |  | 29.2 |  |  |  | (28.8 | ) |  |  | 0.4 |
Noncompetition agreements |  |  | 4.2 |  |  |  | (2.4 | ) |  |  | 1.8 |  |  |  | 4.2 |  |  |  | (2.0 | ) |  |  | 2.2 |
Trademarks and tradenames |  |  | 2.2 |  |  |  | (1.2 | ) |  |  | 1.0 |  |  |  | 2.2 |  |  |  | (1.0 | ) |  |  | 1.2 |
Other intangibles |  |  | 0.6 |  |  |  | (0.6 | ) |  |  | — |  |  |  | 0.7 |  |  |  | (0.7 | ) |  |  | — |
Total |  | $ | 62.1 |  |  | $ | (44.9 | ) |  | $ | 17.2 |  |  | $ | 62.8 |  |  | $ | (44.1 | ) |  | $ | 18.7 |
Indefinite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and tradenames |  | $ | 91.0 |  |  | $ | — |  |  | $ | 91.0 |  |  | $ | 92.6 |  |  | $ | — |  |  | $ | 92.6 |
Distribution network |  |  | 13.9 |  |  |  | — |  |  |  | 13.9 |  |  |  | 14.3 |  |  |  | — |  |  |  | 14.3 |
Total |  |  | 104.9 |  |  |  | — |  |  |  | 104.9 |  |  |  | 106.9 |  |  |  | — |  |  |  | 106.9 |
Total other intangible assets |  | $ | 167.0 |  |  | $ | (44.9 | ) |  | $ | 122.1 |  |  | $ | 169.7 |  |  | $ | (44.1 | ) |  | $ | 125.6 |
The Company performs its annual indefinite-lived intangible assets impairment testing during the fourth quarter, or more frequently if events or changes in circumstances indicate that there might be an impairment of the asset. The Company will continue to monitor changes in circumstances and test more frequently if those changes indicate that assets might be impaired. The Company determined there was no triggering event during the three and six months ended June 30, 2024. Definite lived intangible assets and long-lived assets are subject to impairment testing whenever events or circumstances indicate that the carrying value of the assets may not be recoverable. The Company determined there was no triggering event during the three and six months ended June 30, 2024. Other intangible assets with definite lives are amortized over their estimated useful lives. Amortization expense for the three months ended June 30, 2024 and 2023 was $0.8 million and $0.7 million, respectively. Amortization expense for the six months ended June 30, 2024 and 2023 was $1.5 million and $1.7 million, respectively.

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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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