Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The changes in the net carrying value of goodwill by reportable segment for the nine months ended September 30, 2023, are as follows:

	Sealing Technologies		Advanced Surface Technologies		Total
	(in millions)
Goodwill as of December 31, 2022	$	270.8	$	593.0	$	863.8
Impairment	—		(60.8)		(60.8)
Foreign currency translation	2.2		—		2.2
Goodwill as of September 30, 2023	$	273.0	$	532.2	$	805.2

The goodwill balances reflected above at September 30, 2023, are net of accumulated impairment losses of $27.8 million for the Sealing Technologies segment and $126.0 million for the Advanced Surface Technologies segment.

Identifiable intangible assets are as follows:

	September 30, 2023				December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
	(in millions)
Amortized:
Customer relationships	$	485.2	$	177.4	$	484.5	$	157.6
Existing technology	464.7		97.3		463.7		71.3
Trademarks	64.6		27.9		64.8		24.0
Other	27.6		20.7		36.4		27.3
	1,042.1		323.3		1,049.4		280.2
Indefinite-Lived:
Trademarks	30.8		—		30.6		—
Total	$	1,072.9	$	323.3	$	1,080.0	$	280.2

Amortization for the quarters and nine months ended September 30, 2023 and 2022 were $17.4 million, $19.2 million, $52.1 million, and $57.9 million, respectively.