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GOODWILL AND INTANGIBLE ASSETS, NET (Tables)
 9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in goodwill by business segment
An analysis of changes in the Company’s goodwill by business segment is as follows (in millions):
 MP    AWPTotal
Balance at December 31, 2021, gross
$202.2 $139.7 $341.9 
Accumulated impairment(23.2)(38.6)(61.8)
Balance at December 31, 2021, net
179.0 101.1 280.1 
Acquisitions21.9 — 21.9 
Foreign exchange effect and other(25.7)(3.2)(28.9)
Balance at September 30, 2022, gross
198.4 136.5 334.9 
Accumulated impairment(23.2)(38.6)(61.8)
Balance at September 30, 2022, net
$175.2 $97.9 $273.1 

During the nine months ended September 30, 2022, the Company recognized goodwill of $3.5 million in connection with the Steelweld acquisition and $18.4 million in connection with the ProAll acquisition. The goodwill associated with these transactions was attributable primarily to the assembled workforce and expected synergies from the business combinations. The goodwill was assigned to the MP segment and is not expected to be deductible for income tax purposes. See Note D – “Acquisitions” for additional information regarding the acquisitions.
Schedule of intangible assets by class
Intangible assets, net were comprised of the following (in millions):
September 30, 2022December 31, 2021
Weighted Average Life
(in years)		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-lived intangible assets:
Technology7$8.6 $(8.5)$0.1 $9.8 $(9.7)$0.1 
Customer Relationships2033.9 (25.9)8.0 31.9 (25.4)6.5 
Land Use Rights
804.0 (0.8)3.2 4.4 (0.8)3.6 
Other729.3 (23.1)6.2 26.3 (23.1)3.2 
Total definite-lived intangible assets
$75.8 $(58.3)$17.5 $72.4 $(59.0)$13.4 

During the nine months ended September 30, 2022, the Company recognized customer relationships of $0.6 million with an estimated useful life of three years in connection with the Steelweld acquisition and customer relationships of $3.2 million with an estimate useful life of nine years and trademarks of $3.7 million with an estimated useful life of ten years in connection with the ProAll acquisition. See Note D – “Acquisitions” for additional information regarding the acquisitions.
Finite-lived Intangible Assets Amortization Expense
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions)2022202120222021
Aggregate Amortization Expense$0.7 $0.7 $1.9 $1.6 
Schedule of intangible assets amortization expense
Estimated aggregate intangible asset amortization expense for each of the next five years is as follows (in millions):
2022$2.7 
20232.6 
20242.4 
20252.2 
20262.0