Goodwill and Other Intangible Assets (Notes)

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Intangible Asset and Goodwill [Text Block]

4. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill The following table provides a reconciliation of changes in goodwill for the six months ended June 30, 2026:


	Driveline		Metal Forming		Consolidated
	(in millions)
Balance at December 31, 2025	$	174.4	$	—	$	174.4
Business Combination with Dowlais	450.0		61.0		511.0
Foreign currency translation	(0.7)		—		(0.7)
Balance at June 30, 2026	$	623.7	$	61.0	$	684.7

We conduct our annual goodwill impairment test in the fourth quarter of each year, as well as whenever adverse events or changes in circumstances indicate a possible impairment. In performing this test, we utilize a third-party valuation specialist to assist management in determining the fair value of our reporting units. Fair value of each reporting unit is estimated based on a combination of discounted cash flows and the use of pricing multiples derived from an analysis of comparable public companies multiplied against historical and/or anticipated financial metrics of each reporting unit. These calculations contain uncertainties as they require management to make assumptions including, but not limited to, market comparables, future cash flows of the reporting units, and appropriate discount and long-term growth rates. This fair value determination is categorized as Level 3 within the fair value hierarchy.

Other Intangible Assets The following table provides a reconciliation of the gross carrying amount and associated accumulated amortization for our other intangible assets, which are all subject to amortization:


	June 30,						December 31,
	2026						2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in millions)
Capitalized computer software	$	78.4	$	(60.2)	$	18.2	$	61.2	$	(55.7)	$	5.5
Customer platforms	856.2		(586.7)		269.5		856.2		(555.0)		301.2
Customer relationships	53.0		(31.6)		21.4		53.0		(29.9)		23.1
Technology and other	149.5		(110.0)		39.5		149.5		(104.1)		45.4
Total	$	1,137.1	$	(788.5)	$	348.6	$	1,119.9	$	(744.7)	$	375.2

Amortization expense for our intangible assets was $21.8 million for the three months ended June 30, 2026 and $20.4 million for the three months ended June 30, 2025, and was $44.7 million for the six months ended June 30, 2026 and $41.0 million for the six months ended June 30, 2025. Estimated amortization expense for the years 2026 through 2029 is expected to be in the range of approximately $80 million to $90 million per year, decreasing to approximately $50 million in 2030, as certain of the intangible assets identified as part of our 2017 acquisition of Metaldyne Performance Group, Inc. become fully amortized.