Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amounts of goodwill and intangible assets were as follows:


	Goodwill		Intangibles - Customer Relationship		Total
Balance as of December 31, 2022	$	35.1	$	8.6	$	43.6
Amortization	—		(2.1)		(2.1)
Balance as of December 31, 2023	35.1		6.4		41.5
Recognized goodwill 1	13.6		—		13.6
Amortization	—		(2.1)		(2.1)
Balance as of December 31, 2024	$	48.6	$	4.3	$	52.9

1 Goodwill recognized from the Augusta acquisition. See Note 3, "Business Acquisition," for additional information.

The intangible assets associated with customer relationships are amortized over their useful lives of 10 years.

We annually evaluate goodwill for possible impairment as of November 1 with additional interim evaluation performed when management believes that it is more likely than not that events or circumstances have occurred that would result in the impairment of a reporting unit’s goodwill. We evaluate our intangible assets for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable.

The gross book value and accumulated amortization of definite lived intangible assets at December 31, 2024 was $34.9 million and $30.6 million. The gross book value and accumulated amortization of definite lived intangible assets at December 31, 2023 was $34.9 million and $28.4 million.

As of December 31, 2024, estimated future amortization expense related to intangible assets is as follows:


	Amount
2025	$	2.1
2026	2.1
2027	—
2028	—
2029	—
Total	$	4.3