Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

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, 2023	$	287.4	$	140.8	$	38.0	$	98.3	$	10.3
Translation adjustments	(0.1)		(0.1)		—		—		—
Balance at March 31, 2024	$	287.3	$	140.7	$	38.0	$	98.3	$	10.3

At March 31, 2024, the amount of goodwill allocated to reporting units with negative net assets within Other was $10.3 million.

Intangible Assets, Net

Intangible assets, net at March 31, 2024, consists of the following:

	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Technology (i)	$	10.0	$	8.8	$	1.2
Customer relationships (ii)	54.2		15.7		38.5
Marketing (ii)	1.3		0.7		0.6
Total	$	65.5	$	25.2	$	40.3

(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 March 31, 2024 and 2023, amortization expense was $2.4 million and $2.5 million, respectively.

The future amortization relating to acquired intangible assets at March 31, 2024, was estimated as follows:

	Future Amortization Expense
Remainder of 2024	$	4.8
2025	4.3
2026	4.0
2027	4.0
2028	4.0
Thereafter	19.2
Total	$	40.3