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Other Intangible Assets
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Other Intangible Assets

Note 7 – Other Intangible Assets

Other intangible assets are summarized as follows:

(in millions)

 

March 31,
2024

 

 

December 31,
2023

 

Finite-lived intangible assets:

 

 

 

 

 

 

Customer relationships

 

$

192.3

 

 

$

191.4

 

Noncompete agreements

 

 

10.8

 

 

 

28.2

 

Trademarks

 

 

70.6

 

 

 

70.6

 

Internal-use software licenses

 

 

17.2

 

 

 

16.5

 

Patents

 

 

2.8

 

 

 

2.8

 

 

 

293.7

 

 

 

309.5

 

Accumulated amortization

 

 

(163.0

)

 

 

(172.6

)

 

 

130.7

 

 

 

136.9

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

Licenses

 

 

16.9

 

 

 

16.9

 

 

$

147.6

 

 

$

153.8

 

Amortization expense for finite-lived intangible assets was $12.3 million and $13.5 million for the three months ended March 31, 2024 and 2023, respectively.

Estimated amortization expense for finite-lived intangible assets for the next five years is as follows:

Year

 

(in millions)

 

Remainder of 2024

 

$

30.1

 

2025

 

$

28.0

 

2026

 

$

26.4

 

2027

 

$

11.8

 

2028

 

$

7.3

 

2029

 

$

5.3