Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6.Goodwill and Intangible Assets

Goodwill

The following table sets forth the changes in the carrying amount of goodwill (in millions):

Balance at December 31, 2022	$	457.6
Current period additions/adjustments		65.0
Foreign currency effect		4.7
Balance at March 31, 2023	$	527.3

Intangible Assets

The following is a summary of intangible assets (in millions):

	March 31, 2023							December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Existing technology and related patents	$	372.2	$	(225.6	)	$	146.6	$	354.7	$	(219.0	)	$	135.7
Customer relationships		210.7		(77.3	)		133.4		192.3		(72.1	)		120.2
Trade names		25.8		(7.9	)		17.9		22.3		(7.4	)		14.9
Other		1.8		(1.2	)		0.6		1.0		(0.9	)		0.1
Intangible assets	$	610.5	$	(312.0	)	$	298.5	$	570.3	$	(299.4	)	$	270.9

For the three months ended March 31, 2023 and 2022, the Company recorded amortization expense of $10.7 million and $9.2 million, respectively, related to intangible assets subject to amortization.

On a quarterly basis, the Company reviews its goodwill and intangible assets to determine if there have been any triggering events that could indicate an impairment. There were no events noted for the three months ended March 31, 2023 or 2022.