Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

7.Goodwill and Intangible Assets

Goodwill

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

Balance at December 31, 2023	$	582.6
Current period additions/adjustments		183.1
Foreign currency effect		(13.8	)
Balance at March 31, 2024	$	751.9

Intangible Assets

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

	March 31, 2024							December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Existing technology and related patents	$	481.3	$	(252.7	)	$	228.6	$	428.3	$	(250.4	)	$	177.9
Customer relationships		282.5		(97.7	)	$	184.8		227.4		(93.5	)		133.9
Trade names		34.8		(11.6	)	$	23.2		28.4		(10.1	)		18.3
Other		15.2		(2.6	)	$	12.6		2.2		(1.8	)		0.4
Intangible assets	$	813.8	$	(364.6	)	$	449.2	$	686.3	$	(355.8	)	$	330.5

For the three months ended March 31, 2024, and 2023, the Company recorded amortization expense of $16.2 million and $10.7 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, 2024 or 2023. See Note 14, Other Charges, Net for discussion related to impairment of other long-lived assets in connection with the BCA restructuring plan.