v3.26.3
Goodwill and Intangible Assets
 9 Months Ended
Sep. 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 nine months ended September 30, 2026, are presented below (in millions):
Net carrying amount as of December 31, 2025$795.0 
  Currency translation adjustments (1.4)
  Acquisition (1) 55.0 
Net carrying amount as of September 30, 2026$848.6 
(1)Refer to Note 2, Acquisition for additional information regarding the acquisition.
The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of September 30, 2026 and December 31, 2025 are as follows (in millions):
September 30, 2026
Weighted Average Useful LifeGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Intangible assets subject to amortization:
Patents (1)11 years$40.5 $(23.6)$16.9 
Customer relationships (including distribution network) (1)16 years1,090.8 (486.6)604.2 
Tradenames (1)19 years166.5 (38.9)127.6 
Intangible assets not subject to amortization - trademarks and tradenames86.3 — 86.3 
Total intangible assets, net16 years$1,384.1 $(549.1)$835.0 
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 
(1)Tradenames, customer relationships, and patents acquired during 2026 were assigned weighted average useful lives of 20 years, 13 years, and 15 years, respectively.
Intangible asset amortization expense totaled $15.2 million and $14.7 million for the three months ended September 30, 2026 and September 30, 2025, respectively. Intangible asset amortization expense totaled $44.5 million and $44.0 million for the nine months ended September 30, 2026 and September 30, 2025, respectively.
The Company expects to recognize amortization expense on the intangible assets subject to amortization of $59.9 million in the year ending December 31, 2026 (inclusive of the $44.5 million of amortization expense recognized in the nine months ended September 30, 2026), $61.6 million in 2027, $61.6 million in 2028, $61.6 million in 2029, $61.6 million in 2030 and $60.9 million in 2031.