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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 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 September 30, 2024 is summarized as follows:
|  | Americas |  |  | MEAP |  |  | Consolidated |
Balance as of December 31, 2023 |  | $ | 14.4 |  |  | $ | 65.2 |  |  | $ | 79.6 |
Foreign currency impact |  |  | — |  |  |  | 0.4 |  |  |  | 0.4 |
Balance as of September 30, 2024 |  | $ | 14.4 |  |  | $ | 65.6 |  |  | $ | 80.0 |
The gross carrying amount, accumulated impairment and net book value of the Company's goodwill balances by reportable segment as of September 30, 2024 and December 31, 2023, are summarized as follows:
|  | September 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 |  |  | 65.6 |  |  |  | — |  |  |  | 65.6 |  |  |  | 65.2 |  |  |  | — |  |  |  | 65.2 |
Total |  | $ | 328.7 |  |  | $ | (248.7 | ) |  | $ | 80.0 |  |  | $ | 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 nine months ended September 30, 2024. The gross carrying amount, accumulated amortization, and net book value of the Company’s other intangible assets other than goodwill as of September 30, 2024 and December 31, 2023, are summarized as follows:
|  | September 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 |  |  | $ | (12.7 | ) |  | $ | 13.7 |  |  | $ | 26.5 |  |  | $ | (11.6 | ) |  | $ | 14.9 |
Patents |  |  | 29.3 |  |  |  | (29.0 | ) |  |  | 0.3 |  |  |  | 29.2 |  |  |  | (28.8 | ) |  |  | 0.4 |
Noncompetition agreements |  |  | 4.2 |  |  |  | (2.6 | ) |  |  | 1.6 |  |  |  | 4.2 |  |  |  | (2.0 | ) |  |  | 2.2 |
Trademarks and tradenames |  |  | 2.2 |  |  |  | (1.4 | ) |  |  | 0.8 |  |  |  | 2.2 |  |  |  | (1.0 | ) |  |  | 1.2 |
Other intangibles |  |  | 0.6 |  |  |  | (0.6 | ) |  |  | — |  |  |  | 0.7 |  |  |  | (0.7 | ) |  |  | — |
Total |  | $ | 62.7 |  |  | $ | (46.3 | ) |  | $ | 16.4 |  |  | $ | 62.8 |  |  | $ | (44.1 | ) |  | $ | 18.7 |
Indefinite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and tradenames |  | $ | 93.0 |  |  | $ | — |  |  | $ | 93.0 |  |  | $ | 92.6 |  |  | $ | — |  |  | $ | 92.6 |
Distribution network |  |  | 14.4 |  |  |  | — |  |  |  | 14.4 |  |  |  | 14.3 |  |  |  | — |  |  |  | 14.3 |
Total |  |  | 107.4 |  |  |  | — |  |  |  | 107.4 |  |  |  | 106.9 |  |  |  | — |  |  |  | 106.9 |
Total other intangible assets |  | $ | 170.1 |  |  | $ | (46.3 | ) |  | $ | 123.8 |  |  | $ | 169.7 |  |  | $ | (44.1 | ) |  | $ | 125.6 |
Definite lived intangible assets are amortized over their estimated useful lives. Long-lived assets, which are primarily made up of property, plant, and equipment and definite lived intangible 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 nine months ended September 30, 2024 with the exception of one asset group located in Europe. Based on the results of the recoverability test, it was determined that the undiscounted cash flows were in excess of the $55.6 million carrying value of the long-lived assets. 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 nine months ended September 30, 2024.

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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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