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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill In January 2025, the company changed its organizational structure to better align its portfolio of solutions to more effectively address evolving client needs and take further advantage of the synergies across the company’s reportable segments. See Note 15 for additional information on the changes to the company’s operating and reportable segments. These changes did not change the company’s reporting units but were deemed a triggering event, resulting in an interim goodwill analysis on the reporting units impacted as of immediately before and immediately after the change. There were no impairment charges resulting from this analysis. The carrying value of goodwill by reporting unit was as follows:
|  | Total |  | DWS |  | CA&I |  | ECS |  |
Balance at December 31, 2024 (i) |  | $ | 247.9 |  |  | $ | 101.3 |  |  | $ | 54.5 |  |  | $ | 92.1 |  |  |
Translation adjustments |  | 1.0 |  |  | 1.0 |  |  | — |  |  | — |  |  |
Balance at June 30, 2025 |  | $ | 248.9 |  |  | $ | 102.3 |  |  | $ | 54.5 |  |  | $ | 92.1 |  |  |
(i) CA&I and ECS reporting units’ goodwill balances were reclassified as of December 31, 2024 to conform with the current period reporting units’ presentation. There was no change to the DWS goodwill amount. See Note 15 for additional information on the changes to the company’s operating and reportable segments. Accumulated goodwill impairment losses as of June 30, 2025 and December 31, 2024 were $39.1 million in both periods and included within the DWS reporting unit. Intangible Assets, Net Intangible assets, net at June 30, 2025, consists of the following:
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Technology |  | $ | 10.0 |  |  | $ | 10.0 |  |  | $ | — |
Customer relationships (i) |  | 54.2 |  |  | 21.0 |  |  | 33.2 |
Marketing (i) |  | 1.3 |  |  | 1.1 |  |  | 0.2 |
Total |  | $ | 65.5 |  |  | $ | 32.1 |  |  | $ | 33.4 |
(i) Amortization expense is included within selling, general and administrative expense in the consolidated statements of income (loss). For the three months ended June 30, 2025 and 2024, amortization expense was $1.0 million and $2.2 million, respectively. For the six months ended June 30, 2025 and 2024, amortization expense was $2.1 million and $4.6 million, respectively. The future amortization relating to acquired intangible assets at June 30, 2025, was estimated as follows:
|  | Future Amortization Expense
Remainder of 2025 |  | $ | 2.2 |
2026 |  | 4.0 |
2027 |  | 4.0 |
2028 |  | 4.0 |
2029 |  | 4.0 |
Thereafter |  | 15.2 |
Total |  | $ | 33.4 |

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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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