v3.24.2
Goodwill and other intangible assets
6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and other intangible assets
7.    Goodwill and other intangible assets
Goodwill
As described in note 1, we reorganized our segment reporting structure effective January 1, 2024. The segment reporting reorganization also resulted in a change to our reporting units for the purpose of goodwill impairment testing. Our new reporting units are Buy Sell Lab, Proprietary Lab, Services, Manufactured Products, Buy Sell Production, and NuSil. As a result of the reorganization, our goodwill was reassigned to the new reporting units making up our Laboratory Solutions and Bioscience Production reporting segments.
We have reassigned goodwill as of January 1, 2024 to align to our new segment structure by using a relative fair value approach. We tested goodwill for impairment immediately before and after the realignment; no impairment was identified.
The following table presents goodwill by our reportable segments, on the effective date of the change:
Laboratory SolutionsBioscience ProductionTotal
Goodwill, gross$3,842.0 $1,913.5 $5,755.5 
Accumulated impairment losses(18.4)(20.4)(38.8)
Goodwill, net$3,823.6 $1,893.1 $5,716.7 
Other intangible assets
The following table presents the components of other intangible assets:
(in millions)
June 30, 2024
December 31, 2023
Gross value
Accumulated amortization and impairment1
Carrying valueGross value
Accumulated amortization and impairment1
Carrying value
Customer relationships$4,822.3 $1,772.0 $3,050.3 $4,883.2 $1,670.3 $3,212.9 
Trade names355.5 234.3 121.2 359.7 228.3 131.4 
Other631.3 312.3 319.0 635.5 296.8 338.7 
Total finite-lived$5,809.1 $2,318.6 3,490.5 $5,878.4 $2,195.4 3,683.0 
Indefinite-lived92.3 92.3 
Total$3,582.8 $3,775.3 
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1.As of June 30, 2024 and December 31, 2023, accumulated impairment losses on Customer relationships were $65.9 million and on Other were $40.5 million totaling $106.4 million.