Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill by reportable segment were as follows:

($ in millions)	Proprietary Products		Contract-Manufactured Products		Total
Balance, December 31, 2021	$	80.1	$	29.8	$	109.9
Foreign currency translation	(2.2)		(0.4)		(2.6)
Balance, December 31, 2022	77.9		29.4		107.3
Foreign currency translation	1.0		0.2		1.2
Balance, December 31, 2023	$	78.9	$	29.6	$	108.5

As of December 31, 2023, we had $0.1 million of accumulated goodwill impairment losses.

Intangible assets and accumulated amortization as of December 31 were as follows:

	2023						2022
($ in millions)	Cost		Accumulated amortization		Net		Cost		Accumulated amortization		Net
Patents and licensing	$	24.8	$	(21.8)	$	3.0	$	24.5	$	(20.6)	$	3.9
Technology	3.3		(2.5)		0.8		3.3		(2.2)		1.1
Trademarks	1.2		(1.2)		—		1.9		(1.8)		0.1
Customer relationships	39.5		(29.0)		10.5		39.6		(27.2)		12.4
Customer contracts	8.0		(7.2)		0.8		10.9		(10.0)		0.9
	$	76.8	$	(61.7)	$	15.1	$	80.2	$	(61.8)	$	18.4

The cost basis of intangible assets includes a foreign currency translation loss of $0.1 million and $0.9 million for the years ended December 31, 2023 and 2022, respectively. Amortization expense for the years ended December 31, 2023, 2022 and 2021 was $3.6 million, $3.7 million and $5.4 million, respectively. Estimated annual amortization expense for the next five years is as follows: 2024 - $3.9 million, 2025 - $3.1 million, 2026 - $2.7 million, 2027 - $2.5 million and 2028 - $2.0 million.