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Other Intangible Assets, net (Tables)
3 Months Ended
Mar. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]  
Components of Intangible Assets, Net

The components of other intangible assets, net, as of March 31, 2023 (unaudited) and December 31, 2022, were as follows:

 

 

 

 

March 31, 2023

 

 

December 31, 2022

 

(millions)

 

Weighted
Average
Life (Years)

 

 

Intangible
Assets,
Gross

 

 

Accumulated
Amortization

 

 

Intangible
Assets,
Net

 

 

Intangible
Assets,
Gross

 

 

Accumulated
Amortization

 

 

Intangible
Assets,
Net

 

Covenant not to compete

 

 

3.3

 

 

$

2.9

 

 

$

(1.6

)

 

$

1.3

 

 

$

2.9

 

 

$

(1.4

)

 

$

1.5

 

Trade names and trademarks

 

 

11.6

 

 

 

2.9

 

 

 

(0.8

)

 

 

2.1

 

 

 

2.8

 

 

 

(0.7

)

 

 

2.1

 

Proprietary know how

 

 

6.6

 

 

 

21.8

 

 

 

(3.5

)

 

 

18.3

 

 

 

21.7

 

 

 

(2.7

)

 

 

19.0

 

Management contract rights

 

 

6.1

 

 

 

81.0

 

 

 

(54.2

)

 

 

26.8

 

 

 

81.0

 

 

 

(52.9

)

 

 

28.1

 

Customer relationships

 

 

8.4

 

 

 

24.8

 

 

 

(7.2

)

 

 

17.6

 

 

 

24.8

 

 

 

(6.6

)

 

 

18.2

 

Other intangible assets, net

 

 

7.0

 

 

$

133.4

 

 

$

(67.3

)

 

$

66.1

 

 

$

133.2

 

 

$

(64.3

)

 

$

68.9

 

Summary of Amortization of Other Intangible Assets

Amortization expense related to other intangible assets during the three months ended March 31, 2023 and 2022, (unaudited), respectively, which was included in Depreciation and amortization within the Condensed Consolidated Statements of Income, was as follows:

 

Three Months Ended

 

(millions)

 

March 31, 2023

 

 

March 31, 2022

 

Amortization expense

 

$

3.0

 

 

$

2.8