Goodwill and Intangibles

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles

Goodwill and Intangibles

The following table provides information related to the goodwill and intangible assets as of June 30, 2024 and December 31, 2023 (in millions):

	June 30,		December 31,
	2024		2023
Goodwill	$	39.6	$	40.0
Definite-lived intangibles	27.0		28.6
Indefinite-lived intangibles	0.7		0.7
Balance	$	67.3	$	69.3

The following table summarizes information related to the Company's definite-lived intangible assets as of June 30, 2024 (in millions):

	Amortization Period  (Years)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted Average Useful Life
Client lists	10 yrs	$	26.1	$	4.6	$	21.5	8.8
Trademarks	10 yrs	6.2		0.7		5.5		8.9
Total		$	32.3	$	5.3	$	27.0	8.8

The following table summarizes information related to the Company's definite-lived intangible assets as of December 31, 2023 (in millions):

	Amortization Period  (Years)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted Average Useful Life
Client lists	10 yrs	$	26.1	$	3.3	$	22.8	9.3
Trademarks	10 yrs	6.2		0.4		5.8		9.4
Total		$	32.3	$	3.7	$	28.6	9.3

In the second quarter of 2024, the Company recorded $0.8 million of intangible amortization expense related to the prior year's Indoff acquisition. For the six months ended June 30, 2024, the Company recorded $1.6 million of intangible amortization expense, of which $1.5 million related to the prior year's acquisition of Indoff. The estimated amortization for future years ending December 31 is as follows (in millions):

2024 remainder	$	1.6
2025	3.0
2026	3.0
2027	3.0
2028	3.0
Thereafter	$	13.4
Total	$	27.0