Goodwill and Identifiable Intangible Assets

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS

Goodwill

The following table shows changes in the carrying amount of goodwill from December 31, 2020 to September 30, 2021 by reportable segment:

	Performance Coatings		Mobility Coatings		Total
Balance at December 31, 2020	$	1,211.3	$	83.6	$	1,294.9
Goodwill from acquisitions	372.8		—		372.8
Foreign currency translation	(45.2)		(2.7)		(47.9)
Balance at September 30, 2021	$	1,538.9	$	80.9	$	1,619.8

Identifiable Intangible Assets

The following tables summarize the gross carrying amounts and accumulated amortization of identifiable intangible assets by major class:

September 30, 2021	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average amortization periods (years)
Technology	$	592.8	$	(413.5)	$	179.3	10.2
Trademarks—indefinite-lived	272.8		—		272.8		Indefinite
Trademarks—definite-lived	136.1		(41.8)		94.3		14.4
Customer relationships	1,130.3		(355.7)		774.6		19.2
Other	15.1		(13.1)		2.0		5.0
Total	$	2,147.1	$	(824.1)	$	1,323.0

December 31, 2020	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average amortization periods (years)
Technology	$	564.8	$	(383.6)	$	181.2	10.4
Trademarks—indefinite-lived	282.9		—		282.9		Indefinite
Trademarks—definite-lived	103.6		(37.5)		66.1		16.0
Customer relationships	943.6		(329.3)		614.3		19.0
Other	15.3		(11.0)		4.3		5.0
Total	$	1,910.2	$	(761.4)	$	1,148.8

The estimated amortization expense related to the fair value of acquired intangible assets for the remainder of 2021 and each of the succeeding five years is:

Remainder of 2021	$	33.6
2022	132.1
2023	91.5
2024	86.7
2025	86.0
2026	85.4