v3.26.1
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the net carrying value of goodwill for the six months ended June 30, 2026, are presented below (in millions):
Net carrying amount as of December 31, 2025$795.0 
  Currency translation adjustments (1.8)
Net carrying amount as of June 30, 2026$793.2 
The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of June 30, 2026 and December 31, 2025 are as follows (in millions):
June 30, 2026
Weighted Average Useful LifeGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Intangible assets subject to amortization:
Patents10 years$28.9 $(23.4)$5.5 
Customer relationships (including distribution network)16 years1,067.4 (473.6)593.8 
Tradenames19 years156.7 (36.8)119.9 
Intangible assets not subject to amortization - trademarks and tradenames86.3 — 86.3 
Total intangible assets, net16 years$1,339.3 $(533.8)$805.5 
December 31, 2025
Weighted Average Useful LifeGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Intangible assets subject to amortization:
Patents10 years$28.4 $(23.3)$5.1 
Customer relationships (including distribution network)16 years1,068.6 (448.9)619.7 
Tradenames19 years156.7 (32.8)123.9 
Intangible assets not subject to amortization - trademarks and tradenames86.3 — 86.3 
Total intangible assets, net16 years$1,340.0 $(505.0)$835.0 
Intangible asset amortization expense totaled $14.7 million and $14.6 million for the three months ended June 30, 2026 and June 30, 2025, respectively. Intangible asset amortization expense totaled $29.3 million and $29.3 million for the six months ended June 30, 2026 and June 30, 2025, respectively.
The Company expects to recognize amortization expense on the intangible assets subject to amortization of $58.6 million in the year ending December 31, 2026 (inclusive of the $29.3 million of amortization expense recognized in the six months ended June 30, 2026), $58.6 million in 2027, $58.5 million in 2028, $58.5 million in 2029, $58.5 million in 2030 and $57.9 million in 2031.