Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

Changes in the carrying value of goodwill by reporting unit were as follows:

	Total		DWS		CA&I		ECS		Other
Balance at December 31, 2022	$	287.1	$	140.5	$	38.0	$	98.3	$	10.3
Translation adjustments	0.2		0.2		—		—		—
Balance at June 30, 2023	$	287.3	$	140.7	$	38.0	$	98.3	$	10.3

At June 30, 2023, there was no goodwill allocated to reporting units with negative net assets.

Intangible Assets, Net

Intangible assets, net at June 30, 2023, consists of the following:

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology (i)	$	10.0	$	6.5	$	3.5
Customer relationships (ii)	54.2		11.0		43.2
Marketing (ii)	1.3		0.5		0.8
Total	$	65.5	$	18.0	$	47.5

(i) Amortization expense is included within cost of revenue - technology in the consolidated statements of income (loss).

(ii) Amortization expense is included within selling, general and administrative expense in the consolidated statements of income (loss).

For the three months ended June 30, 2023 and 2022, amortization expense was $2.4 million and $2.9 million, respectively. For the six months ended June 30, 2023 and 2022, amortization expense was $4.9 million and $5.3 million, respectively.

The future amortization relating to acquired intangible assets at June 30, 2023, was estimated as follows:

	Future Amortization Expense
Remainder of 2023	$	4.7
2024	7.2
2025	4.3
2026	4.0
2027	4.0
Thereafter	23.3
Total	$	47.5