Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of intangible assets and goodwill

Goodwill and other intangible assets, net of accumulated amortization, as of June 30, 2024 and December 31, 2023 were as follows (in millions):

	June 30, 2024		December 31, 2023
Goodwill	$	395.7	$	394.4
Other intangible assets, net	564.5		512.0
Total goodwill and other intangible assets, net	$	960.2	$	906.4

Schedule of changes in carrying amount of goodwill

The changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2024 and 2023 were as follows (in millions):

	Off Road		On Road		Marine		Total
Balance as of December 31, 2023	$	116.6	$	50.7	$	227.1	$	394.4
Goodwill acquired and related adjustments	0.4		—		3.5		3.9
Currency translation effect on foreign goodwill balances	(0.5)		(2.1)		—		(2.6)
Balance as of June 30, 2024	$	116.5	$	48.6	$	230.6	$	395.7

	Off Road		On Road		Marine		Total
Balance as of December 31, 2022	$	110.7	$	48.4	$	227.1	$	386.2
Currency translation effect on foreign goodwill balances	(0.1)		1.3		—		1.2
Balance as of June 30, 2023	$	110.6	$	49.7	$	227.1	$	387.4

Schedule of components of other intangible assets

The components of other intangible assets were as follows ($ in millions):

		June 30, 2024
	Weighted-average useful life (years)	Cost		Accumulated amortization		Net
Amortizable - dealer/customer related	19	$	341.2	$	(106.1)	$	235.1
Amortizable - developed technology	10	62.7		(1.0)		61.7
Non-amortizable - brand/trade names		267.7		—		267.7
Total other intangible assets, net	18	$	671.6	$	(107.1)	$	564.5

		December 31, 2023
	Weighted-average useful life (years)	Cost		Accumulated amortization		Net
Amortizable - dealer/customer related	19	$	341.2	$	(97.2)	$	244.0
Non-amortizable - brand/trade names		268.0		—		268.0
Total other intangible assets, net		$	609.2	$	(97.2)	$	512.0

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expense for identifiable other intangible assets during the next five years is as follows (in millions):

	Remainder 2024		2025		2026		2027		2028		2029
Estimated amortization expense	$	12.0	$	23.9	$	23.9	$	23.9	$	23.9	$	23.9