Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 76

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 76
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ortized intangible assets:Customer lists and relationships$4,010.1 $(1,830.1)$2,180.0 $3,279.3 $(1,585.4)$1,693.9 Technology549.1 (243.3)305.8 413.8 (178.9)234.9 Tradenames63.6 (32.4)31.2 52.2 (27.9)24.3 Backlog4.3 (4.2)0.1 3.0 (1.3)1.7 Other128.5 (112.1)16.4 117.1 (104.1)13.0 Unamortized intangible assets:Tradenames1,839.3 — 1,839.3 1,643.3 — 1,643.3 Total other intangible assets$6,594.9 $(2,222.1)$4,372.8 $5,508.7 $(1,897.6)$3,611.1 Amortization of intangible assets was $373.0 million, $367.5 million and $347.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. Amortization of intangible assets is anticipated to be approximately $375 million in 2025, $315 million in each of 2026 and 2027, $275 million in 2028 and $220 million in 2029 based upon currency exchange rates as of December 31, 2024.Other Intangible Asset Impairment TestsConsistent with our accounting policy described in Note 1, we performed our annual indefinite-lived intangible asset impairment testing as of the first day of our fiscal fourth quarters of 2024, 2023 and 2022. For the years ended December 31, 2024, 2023 and 2022, each tradename’s fair value was in excess of its net carrying value, and therefore, no impairment was recorded.During the fourth quarter of 2024, the Company decided to rationalize a business within the Precision and Science Technologies segment. Consistent with our accounting policy described in Note 1, the Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate an assets