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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 9. Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the three months ended March 31, 2025 are summarized as follows:
|  | Americas - Distribution |  |  | MEAP |  |  | Consolidated |
Balance as of December 31, 2024 |  | $ | 14.4 |  |  | $ | 63.4 |  |  | $ | 77.8 |
Foreign currency impact |  |  | — |  |  |  | 0.2 |  |  |  | 0.2 |
Balance as of March 31, 2025 |  | $ | 14.4 |  |  | $ | 63.6 |  |  | $ | 78.0 |
The gross carrying amount, accumulated impairment and net book value of the Company's goodwill balances by reportable segment as of March 31, 2025 and December 31, 2024, are summarized as follows:
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | 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 |  |  | 63.6 |  |  |  | — |  |  |  | 63.6 |  |  |  | 63.4 |  |  |  | — |  |  | 63.4 |
Total |  | $ | 326.7 |  |  | $ | (248.7 | ) |  | $ | 78.0 |  |  | $ | 326.5 |  |  | $ | (248.7 | ) | $ | 77.8 |
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 assets. 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 for the three months ended March 31, 2025. The gross carrying amount, accumulated amortization, and net book value of the Company’s intangible assets other than goodwill as of March 31, 2025 and December 31, 2024, are summarized as follows:
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization Amount |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization Amount |  |  | Net Book Value |
Definite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 28.3 |  |  | $ | (13.5 | ) |  | $ | 14.8 |  |  | $ | 26.3 |  |  | $ | (13.0 | ) |  | $ | 13.3 |
Patents |  |  | 28.8 |  |  |  | (28.5 | ) |  |  | 0.3 |  |  |  | 28.1 |  |  |  | (27.8 | ) |  |  | 0.3 |
Noncompetition agreements |  |  | 4.2 |  |  |  | (3.0 | ) |  |  | 1.2 |  |  |  | 4.2 |  |  |  | (2.8 | ) |  |  | 1.4 |
Trademarks and tradenames |  |  | 2.2 |  |  |  | (1.6 | ) |  |  | 0.6 |  |  |  | 2.2 |  |  |  | (1.5 | ) |  |  | 0.7 |
Total |  | $ | 63.5 |  |  | $ | (46.6 | ) |  | $ | 16.9 |  |  | $ | 61.5 |  |  | $ | (45.8 | ) |  | $ | 15.7 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and tradenames |  | $ | 91.4 |  |  | $ | — |  |  | $ | 91.4 |  |  | $ | 89.2 |  |  | $ | — |  |  | $ | 89.2 |
Distribution network |  |  | 14.1 |  |  |  | — |  |  |  | 14.1 |  |  |  | 13.6 |  |  |  | — |  |  |  | 13.6 |
Total |  |  | 105.5 |  |  |  | — |  |  |  | 105.5 |  |  |  | 102.8 |  |  |  | — |  |  |  | 102.8 |
Total intangible assets |  | $ | 169.0 |  |  | $ | (46.6 | ) |  | $ | 122.4 |  |  | $ | 164.3 |  |  | $ | (45.8 | ) |  | $ | 118.5 |
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 for the three months ended March 31, 2025. 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 for the three months ended March 31, 2025. Other intangible assets with definite lives are amortized over their estimated useful lives. Amortization expense for the three months ended March 31, 2025 and 2024 was $0.8 million and $0.7 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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