XML 27 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
The carrying amounts of the Company’s intangible assets are as follows:
(In millions)
 
September 30, 2018
 
December 31, 2017
 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Gross Carrying Amount
 
Accumulated Amortization
Amortizing intangibles:
 
 

 
 

 
 

 
 

Patents
 
$
7.5

 
$
(6.8
)
 
$
7.5

 
$
(6.7
)
Technology
 
7.5

 
(6.3
)
 
7.5

 
(5.8
)
Customer relationships
 
148.4

 
(61.4
)
 
138.9

 
(57.6
)
Other
 
2.8

 
(2.5
)
 
2.9

 
(2.4
)
Total
 
$
166.2

 
$
(77.0
)
 
$
156.8

 
$
(72.5
)
Unamortizing intangibles:
 
 
 
 
 
 
 
 
Trade names
 
45.5

 
—

 
47.2

 
—

Total intangibles
 
$
211.7

 
$
(77.0
)
 
$
204.0

 
$
(72.5
)

 
Amortization expense related to intangible assets for the third quarters ended September 30, 2018 and September 30, 2017 was $2.2 million and $2.1 million, and for the nine months ended September 30, 2018 and September 30, 2017, $6.6 million and $6.4 million, respectively.

Amortization expense for each of the five succeeding years is projected as follows:
(In millions)
 
2018
 
2019
 
2020
 
2021
 
2022
 
 
$
8.8

 
$
9.0

 
$
8.9

 
$
8.5

 
$
8.3



The change in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2018, is as follows:
(In millions)
 
 
 
 
Water Systems
 
Fueling Systems
 
Distribution
 
Consolidated
Balance as of December 31, 2017
 
$
139.3

 
$
63.6

 
$
33.9

 
$
236.8

Acquisitions
 
11.2

 
4.1

 
1.8

 
17.1

Foreign currency translation
 
(4.0
)
 
(0.2
)
 
—

 
(4.2
)
Balance as of September 30, 2018
 
$
146.5

 
$
67.5

 
$
35.7

 
$
249.7