Quarterly report pursuant to Section 13 or 15(d)

Acquired Intangible Assets and Goodwill (Tables)

v3.23.3
Acquired Intangible Assets and Goodwill (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Indefinite-Lived Intangible Assets The carrying basis and accumulated amortization of recognized intangible assets at September 30, 2023 and December 31, 2022, are as follows:
Useful Life September 30, 2023 December 31, 2022
Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount
Customer relationships
10-15 years
 $ 408.2  $ 146.7  $ 261.5  $ 408.2  $ 125.6  $ 282.6 
Tradenames and trademarks
 Indefinite 107.4  —  107.4  107.4  —  107.4 
Software development
10-15 years
 20.3  7.1  13.2  20.3  6.1  14.2 
Noncompete agreements
3-8 years
 0.3  0.2  0.1  0.4  0.2  0.2 
Backlog
< 1 year
 —  —  —  41.4  41.4  — 
$ 536.2  $ 154.0  $ 382.2  $ 577.7  $ 173.3  $ 404.4 
Schedule of Finite-Lived Intangible Assets The carrying basis and accumulated amortization of recognized intangible assets at September 30, 2023 and December 31, 2022, are as follows:
Useful Life September 30, 2023 December 31, 2022
Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount
Customer relationships
10-15 years
 $ 408.2  $ 146.7  $ 261.5  $ 408.2  $ 125.6  $ 282.6 
Tradenames and trademarks
 Indefinite 107.4  —  107.4  107.4  —  107.4 
Software development
10-15 years
 20.3  7.1  13.2  20.3  6.1  14.2 
Noncompete agreements
3-8 years
 0.3  0.2  0.1  0.4  0.2  0.2 
Backlog
< 1 year
 —  —  —  41.4  41.4  — 
$ 536.2  $ 154.0  $ 382.2  $ 577.7  $ 173.3  $ 404.4 
Schedule of Goodwill
The changes in the carrying amounts of goodwill for the period ended September 30, 2023 were as follows:
Balance as of December 31, 2022 $ 368.2 
Foreign Currency Translation Adjustment (0.1)
Balance as of September 30, 2023 $ 368.1