Goodwill and Other Intangibles Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table summarizes the carrying amount of goodwill, and the changes in the carrying amount of goodwill in the three months ended March 31, 2026, by segment:


(in millions)	Environmental Solutions		Safety & Security Systems		Total
Balance at January 1, 2026	$	506.8	$	113.0	$	619.8
Acquisitions, including measurement period adjustments	8.0		—		8.0
Translation adjustments	(0.2)		(0.8)		(1.0)
Balance at March 31, 2026	$	514.6	$	112.2	$	626.8

The following table summarizes the gross carrying amount and accumulated amortization of intangible assets for each major class of intangible assets:


	March 31, 2026						December 31, 2025
(in millions)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Definite-lived intangible assets:
Customer relationships (a)	$	311.8	$	(104.5)	$	207.3	$	300.9	$	(98.2)	$	202.7
Other (a)	9.9		(5.8)		4.1		10.3		(6.0)		4.3
Total definite-lived intangible assets	321.7		(110.3)		211.4		311.2		(104.2)		207.0
Indefinite-lived intangible assets:
Trade names	178.2		—		178.2		171.6		—		171.6
Other	4.3		—		4.3		4.3		—		4.3
Total indefinite-lived intangible assets	182.5		—		182.5		175.9		—		175.9
Total intangible assets	$	504.2	$	(110.3)	$	393.9	$	487.1	$	(104.2)	$	382.9

(a) Average useful life of customer relationships and other definite-lived intangible assets are estimated to be approximately 13 years and 9 years, respectively. The average useful life across all definite-lived intangible assets is estimated to be approximately 13 years.

The table above includes preliminary estimates of the fair value and useful lives of certain definite and indefinite-lived intangible assets related to the New Way acquisition, which was completed during the fourth quarter of 2025, and the Mega acquisition, which was completed during the first quarter of 2026. As further described in Note 2 – Acquisitions, the preliminary measurements of fair value included in the table above are subject to change during the measurement period as the applicable third-party valuations are finalized.

Amortization expense was $6.5 million for the three months ended March 31, 2026 and $4.3 million for the three months ended March 31, 2025.

The Company currently estimates that aggregate amortization expense will be approximately $19.6 million for the remainder of 2026, $25.5 million in 2027, $24.9 million in 2028, $19.6 million in 2029, $16.4 million in 2030, and $105.4 million thereafter. Actual amounts of amortization may differ from estimated amounts due to changes in foreign currency rates, measurement period adjustments for the New Way and Mega acquisitions, impairment of intangible assets, and other events.