Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes To Goodwill

Changes to goodwill are as follows:

(in millions)	Aerospace & Electronics		Process Flow Technologies		Payment & Merchandising Technologies		Engineered Materials		Total
Balance as of December 31, 2022	$	202.3	$	317.3	$	836.6	$	171.3	$	1,527.5
Currency translation	—		2.2		1.2		—		3.4
Balance as of March 31, 2023	$	202.3	$	319.5	$	837.8	$	171.3	$	1,530.9

Changes To Intangible Assets

Changes to intangible assets are as follows:

(in millions)	Three Months Ended March 31, 2023		Year Ended December 31, 2022
Balance at beginning of period, net of accumulated amortization	$	416.6	$	467.1
Amortization expense	(10.4)		(41.7)
Currency translation and other	0.3		(8.8)
Balance at end of period, net of accumulated amortization	$	406.5	$	416.6

Summary Of Intangible Assets

A summary of intangible assets are as follows:

		March 31, 2023						December 31, 2022
(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	15.1	$	132.4	$	59.5	$	72.9	$	132.1	$	59.1	$	73.0
Customer relationships and backlog	18.4	636.2		338.3		297.9		635.5		329.8		305.7
Drawings	40.0	11.1		10.7		0.4		11.1		10.7		0.4
Other	11.7	141.8		106.5		35.3		141.3		103.8		37.5
Total	18.0	$	921.5	$	515.0	$	406.5	$	920.0	$	503.4	$	416.6

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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

(in millions)
Remainder of 2023	$	31.4
2024	41.1
2025	35.7
2026	35.5
2027	34.9
2028 and after	160.5