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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2024
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, 2023

 

$

582.6

 

Current period additions/adjustments

 

 

183.1

 

Foreign currency effect

 

 

(13.8

)

Balance at March 31, 2024

 

$

751.9

 

 

Summary of 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