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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 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

 

 

92.4

 

Foreign currency effect

 

 

7.9

 

Balance at June 30, 2023

 

$

557.9

 

 

Summary of intangible assets

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

 

June 30, 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

 

$

380.3

 

 

$

(232.8

)

 

$

147.5

 

 

$

354.7

 

 

$

(219.0

)

 

$

135.7

 

Customer relationships

 

 

216.0

 

 

 

(82.4

)

 

 

133.6

 

 

 

192.3

 

 

 

(72.1

)

 

 

120.2

 

Trade names

 

 

27.1

 

 

 

(8.4

)

 

 

18.7

 

 

 

22.3

 

 

 

(7.4

)

 

 

14.9

 

Other

 

 

2.1

 

 

 

(1.5

)

 

 

0.6

 

 

 

1.0

 

 

 

(0.9

)

 

 

0.1

 

Intangible assets

 

$

625.5

 

 

$

(325.1

)

 

$

300.4

 

 

$

570.3

 

 

$

(299.4

)

 

$

270.9