Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Changes To Goodwill

Changes to goodwill are as follows:

(in millions)	Fluid Handling			Payment & Merchandising Technologies			Aerospace & Electronics			Engineered Materials		Total
Balance as of December 31, 2018	$	240.8		$	789.2		$	202.4		$	171.3	$	1,403.7
Additions	—			63.4			—			—		63.4
Currency translation	0.1			5.2			—			—		5.3
Balance as of December 31, 2019	$	240.9		$	857.8		$	202.4		$	171.3	$	1,472.4
Additions	108.6			—			—			—		108.6
Adjustments to purchase price allocations	—			4.0			—			—		4.0
Currency translation	(0.5		)	(6.6		)	(0.1		)	—		(7.2		)
Balance at June 30, 2020	$	349.0		$	855.2		$	202.3		$	171.3	$	1,577.8

Changes To Intangible Assets

Changes to intangible assets are as follows:

(in millions)	Six Months Ended June 30, 2020			Year Ended December 31, 2019
Balance at beginning of period, net of accumulated amortization	$	505.1		$	481.8
Additions	52.5			66.0
Amortization expense	(23.7		)	(40.0		)
Currency translation	0.5			(2.7		)
Balance at end of period, net of accumulated amortization	$	534.4		$	505.1

Summary Of Intangible Assets

A summary of intangible assets follows:

		June 30, 2020						December 31, 2019
(in millions)	Weighted Average Amortization Period of Finite Lived Assets (in years)	Gross Asset		Accumulated Amortization		Net		Gross Asset		Accumulated Amortization		Net
Intellectual property rights	15.6	$	135.7	$	56.6	$	79.1	$	134.2	$	56.8	$	77.4
Customer relationships and backlog	18.5	650.3		255.9		394.4		603.1		241.3		361.8
Drawings	40.0	11.1		10.6		0.5		11.1		10.5		0.6
Other	11.7	141.2		80.8		60.4		141.6		76.3		65.3
Total	18.0	$	938.3	$	403.9	$	534.4	$	890.0	$	384.9	$	505.1

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future amortization expense associated with intangible assets is expected to be:

(in millions)
Remainder of 2020	$	22.5
2021	42.2
2022	41.8
2023	41.6
2024 and after	316.6