OTHER INTANGIBLE ASSETS, NET (Table)

12 Months Ended

Dec. 31, 2021

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]

The following tables present the cumulative composition of the Corporation’s intangible assets as of December 31, 2021 and December 31, 2020, respectively.

	2021						2020
(In thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Technology (2)	$	274,615	$	(164,077)	$	110,538	$	280,595	$	(148,064)	$	132,531
Customer related intangibles (2)	568,720		(270,816)		297,904		573,722		(239,798)		333,924
Programs (1)	144,000		(27,000)		117,000		144,000		(19,800)		124,200
Other intangible assets	49,559		(36,924)		12,635		51,493		(32,518)		18,975
Total	$	1,036,894	$	(498,817)	$	538,077	$	1,049,810	$	(440,180)	$	609,630

(1) Programs include values assigned to major programs of acquired businesses and represent the aggregate value associated with the customer relationships, contracts, technology, and trademarks underlying the associated program.

(2) During the year ended December 31, 2020, the Corporation recognized an impairment loss of $18 million pertaining to technology and customer-related intangibles of its industrial valve business in Germany, which was classified as held for sale during the fourth quarter of 2020.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The estimated future amortization expense of intangible assets over the next five years is as follows:

(In millions)
2022	$	55
2023	$	52
2024	$	48
2025	$	45
2026	$	44