Goodwill And Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill And Intangible Assets [Abstract]

Goodwill And Intangible Assets

8. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill for the years ended December 31 were as follows:

		2023		2022
Beginning balance	$	83.1	$	57.1
Acquisitions and purchase accounting adjustments		95.7		26.5
Foreign currency translation impact		0.2		(0.5)
Ending balance	$	179.0	$	83.1

As of December 31, 2023, we have completed our annual impairment test and concluded that there is no impairment of our goodwill. We did not recognize any goodwill impairment in 2022 and 2021.

Intangible Assets

Intangible assets consist of the following:

	As of December 31, 2023
	Asset Life	Weighted Average Life	Gross Carrying ‎Amount		Accumulated ‎Amortization		Net Carrying ‎Amount
Customer relationships	6 to 20 years	15.3 years	$	226.9	$	(27.9)	$	199.0
Trade name	5 to 20 years	16.9 years		69.8		(8.9)		60.9
Non-compete agreements	3 to 7 years	5.2 years		2.5		(0.7)		1.8
Other intangible assets	2.5 to 10 years	3.9 years		0.7		(0.5)		0.2
Total		15.5 years	$	299.9	$	(38.0)	$	261.9

	As of December 31, 2022
	Asset Life	Weighted Average Life	Gross Carrying ‎Amount		Accumulated ‎Amortization		Net Carrying ‎Amount
Customer relationships	6 to 20 years	12.9 years	$	78.4	$	(16.4)	$	62.0
Trade name	5 to 20 years	18.9 years		33.2		(5.9)		27.3
Non-compete agreements	3 to 7 years	5.3 years		1.3		(0.5)		0.8
Other intangible assets	2.5 to 10 years	3.9 years		0.7		(0.2)		0.5
Total		14.5 years	$	113.6	$	(23.0)	$	90.6

We did not incur impairment losses related to our intangible assets during the years ended December 31, 2023, 2022, and 2021. Amortization expense for intangible assets was $15.0 million, $6.3 million, and $4.3 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Estimated future amortization expense related to our intangible assets for the years ending December 31 is as follows:

2024	$	20.5
2025		20.2
2026		18.7
2027		18.5
2028		18.0
After 2028		166.0
Total	$	261.9