Goodwill and intangible assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

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


	Total		DWS		CA&I		ECS		Other
Balance at December 31, 2021	$	315.0	$	140.9	$	65.5	$	98.3	$	10.3
Acquisition - Measurement period adjustments (i)	(27.5)		—		(27.5)		—		—
Translation adjustments	(0.4)		(0.4)		—		—		—
Balance at December 31, 2022	287.1		140.5		38.0		98.3		10.3

Translation adjustments	0.3		0.3		—		—		—
Balance at December 31, 2023	$	287.4	$	140.8	$	38.0	$	98.3	$	10.3

(i) Includes a measurement period adjustment that decreased goodwill by $27.5 million related to a prior period acquisition.

At December 31, 2023, the amount of goodwill allocated to reporting units with negative net assets within Other was $10.3 million. At December 31, 2022, there was no goodwill allocated to reporting units with negative net assets.

Intangible Assets, Net

Intangible assets, net at December 31, 2023 and 2022 consists of the following:


As of December 31, 2023	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology (i)	$	10.0	$	8.1	$	1.9
Customer relationships (ii)	54.2		14.1		40.1
Marketing (ii)	1.3		0.6		0.7
Total	$	65.5	$	22.8	$	42.7


As of December 31, 2022	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology (i)	$	10.0	$	4.9	$	5.1
Customer relationships (ii)(iii)	54.2		7.9		46.3
Marketing (ii)	1.3		0.3		1.0
Total	$	65.5	$	13.1	$	52.4

(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).

(iii) Customer relationships include a measurement period adjustment that increased the fair value of the acquired intangible assets by $27.6 million related to a prior period acquisition.

Amortization expense was $9.7 million, $10.1 million and $3.0 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The future amortization relating to acquired intangible assets at December 31, 2023 was estimated as follows:


Year	Future Amortization Expense
2024	$	7.2
2025	4.3
2026	4.0
2027	4.0
2028	4.0
Thereafter	19.2
Total	$	42.7