Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

Intangible assets originated from the Company’s reorganization and application of fresh start accounting as of September 30, 2014, the date the Company emerged from bankruptcy, and reflect the conditions at that time. The intangible asset related to the sales order book is amortized as the order book existing at emergence is reduced, principally as a result of deliveries to customers. The intangible asset related to customer relationships is amortized using the straight-line method over the estimated average useful life of 15 years. Amortization expense is presented below gross profit on the consolidated statements of operations. Intangible asset balances are as follows (in millions):

	December 31, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
Sales order book	$	54.6	$	32.0	$	22.6	$	54.6	$	29.9	$	24.7
Customer relationships	68.9		28.7		40.2		68.9		24.1		44.8
Total	$	123.5	$	60.7	$	62.8	$	123.5	$	54.0	$	69.5

The amount of amortization expense for intangible assets in each of the succeeding years is estimated to be as follows (in millions):

2021	$	8.0
2022	9.6
2023	7.5
2024	9.4
2025	5.8
Thereafter	22.5
Total	$	62.8