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Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill in Total and by Reportable Segment

The following table summarizes the changes in the carrying amount of goodwill in total and by reportable segment during the years ended December 31, 2024 and 2023:

 

Material
Handling

 

 

Construction
Equipment

 

 

Master Distribution

 

 

Total

 

Balance, December 31, 2022

$

13.6

 

 

$

38.0

 

 

$

17.6

 

 

$

69.2

 

Additions

 

1.1

 

 

 

5.4

 

 

 

—

 

 

 

6.5

 

Adjustments to purchase price allocations

 

0.3

 

 

 

—

 

 

 

0.7

 

 

 

1.0

 

Balance, December 31, 2023

$

15.0

 

 

$

43.4

 

 

$

18.3

 

 

$

76.7

 

Adjustments to purchase price allocations

 

—

 

 

 

1.4

 

 

 

—

 

 

 

1.4

 

Translation adjustments

 

(0.3

)

 

 

(0.3

)

 

 

—

 

 

 

(0.6

)

Balance, December 31, 2024

$

14.7

 

 

$

44.5

 

 

$

18.3

 

 

$

77.5

 
Schedule of Other Intangible Assets, Net

Other intangible assets, net consisted of the following:

 

December 31, 2024

 

 

Weighted Average Remaining Life (in years)

 

 

Gross carrying
amount

 

 

Accumulated
amortization

 

 

Net carrying
amount

 

Customer and supplier relationships

 

6.6

 

 

$

72.4

 

 

$

(24.3

)

 

$

48.1

 

Other intangibles

 

3.0

 

 

 

14.3

 

 

 

(7.7

)

 

 

6.6

 

Total

 

6.1

 

 

$

86.7

 

 

$

(32.0

)

 

$

54.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

 

Weighted Average Remaining Life (in years)

 

 

Gross carrying
amount

 

 

Accumulated
amortization

 

 

Net carrying
amount

 

Customer and supplier relationships

 

7.6

 

 

$

73.6

 

 

$

(16.8

)

 

$

56.8

 

Other intangibles

 

3.9

 

 

 

14.6

 

 

 

(5.1

)

 

 

9.5

 

Total

 

7.0

 

 

$

88.2

 

 

$

(21.9

)

 

$

66.3

 
Schedule of Estimated Amortization Expense Intangible Assets

As of December 31, 2024, estimated amortization expense for intangible assets for each of the next five years and thereafter was as follows:

Years ending December 31,

Amount

 

2025

$

9.9

 

2026

 

9.7

 

2027

 

8.9

 

2028

 

8.1

 

2029

 

7.3

 

Thereafter

 

10.8

 

Total

$

54.7