Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2021

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, 2020	$	360.0	$	875.2	$	202.5	$	171.3	$	1,609.0
Adjustments to purchase price allocations	(0.1)		—		—		—		(0.1)
Currency translation	(4.9)		(8.9)		—		—		(13.8)
Balance at March 31, 2021	$	355.0	$	866.3	$	202.5	$	171.3	$	1,595.1

Changes To Intangible Assets

Changes to intangible assets are as follows:

(in millions)	Three Months Ended March 31, 2021		Year Ended December 31, 2020
Balance at beginning of period, net of accumulated amortization	$	520.3	$	505.1
Additions	—		52.5
Amortization expense	(11.5)		(48.4)
Currency translation	(5.8)		11.1
Balance at end of period, net of accumulated amortization	$	503.0	$	520.3

Summary Of Intangible Assets

A summary of intangible assets follows:

		March 31, 2021						December 31, 2020
(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	15.2	$	137.7	$	58.6	$	79.1	$	138.2	$	58.4	$	79.8
Customer relationships and backlog	18.4	656.2		287.8		368.4		663.6		280.6		383.0
Drawings	40	11.1		10.5		0.6		11.1		10.5		0.6
Other	11.7	143.5		88.6		54.9		144.9		88.0		56.9
Total	17.8	$	948.5	$	445.5	$	503.0	$	957.8	$	437.5	$	520.3

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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

(in millions)
Remainder of 2021	$	33.3
2022	42.9
2023	42.8
2024	42.0
2025 and after	271.0