Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying value of goodwill by reportable operating segments were as follows:

	Engineered Products		Fueling Solutions		Imaging & Identification		Pumps & Process Solutions		Refrigeration & Food Equipment		Total
Goodwill	$	689,784	$	770,619	$	944,468	$	796,952	$	546,066	$	3,747,889
Accumulated impairment loss	(10,591)		—		—		(59,970)		—		(70,561)
Balance at January 1, 2019	679,193		770,619		944,468		736,982		546,066		3,677,328
Acquisitions	—		97,898		—		21,614		—		119,512
Reallocation due to reporting unit changes	(40,394)		—		40,394		—		—		—
Disposition of business	—		—		—		(4,739)		—		(4,739)
Foreign currency translation	(2,228)		4,864		(7,793)		(3,230)		(367)		(8,754)
Balance at December 31, 2019	636,571		873,381		977,069		750,627		545,699		3,783,347
Acquisitions	33,183		47,339		103,723		21,560		—		205,805
Disposition of business	—		—		—		—		(2,597)		(2,597)
Foreign currency translation	13,231		20,253		36,797		14,093		1,613		85,987
Balance at December 31, 2020	$	682,985	$	940,973	$	1,117,589	$	786,280	$	544,715	$	4,072,542

Schedule of Intangible Assets

The Company's definite-lived and indefinite-lived intangible assets by major asset class were as follows:

	December 31, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets:
Customer intangibles	$	1,559,771	$	834,798	$	724,973	$	1,410,636	$	714,566	$	696,070
Trademarks	233,205		103,907		129,298		218,064		85,791		132,273
Patents	163,299		141,182		22,117		159,376		133,677		25,699
Unpatented technologies	180,947		113,404		67,543		154,505		99,276		55,229
Distributor relationships	87,028		51,611		35,417		82,779		44,202		38,577
Drawings & manuals	29,198		26,193		3,005		27,500		22,403		5,097
Other	23,901		19,324		4,577		22,355		16,939		5,416
Total	2,277,349		1,290,419		986,930		2,075,215		1,116,854		958,361
Unamortized intangible assets:
Trademarks	96,842		—		96,842		96,653		—		96,653
Total intangible assets, net	$	2,374,191	$	1,290,419	$	1,083,772	$	2,171,868	$	1,116,854	$	1,055,014

Future Amortization Expense

Estimated future amortization expense related to intangible assets held at December 31, 2020 is as follows:

	Estimated Amortization
2021	$	139,794
2022	125,272
2023	115,224
2024	110,524
2025	105,761