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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in the carrying amount of 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

 

 

Summary of 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