GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2020

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)	March 31, 2020				December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizing intangibles:
Patents	$	7.4	$	(7.0)	$	7.4	$	(7.0)
Technology	7.5		(6.9)		7.5		(6.8)
Customer relationships	151.3		(71.8)		155.4		(71.4)
Other	3.7		(2.7)		3.8		(2.8)
Total	$	169.9	$	(88.4)	$	174.1	$	(88.0)
Unamortizing intangibles:
Trade names	43.0		—		45.0		—
Total intangibles	$	212.9	$	(88.4)	$	219.1	$	(88.0)

Amortization expense related to intangible assets for the first quarters ended March 31, 2020 and March 31, 2019 was $2.4 million and $2.3 million, respectively.

Amortization expense for each of the five succeeding years is projected as follows:

(In millions)	2020		2021		2022		2023		2024
	$	9.2	$	8.8	$	8.6	$	8.5	$	8.3

The change in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2020, is as follows:

(In millions)
	Water Systems		Fueling Systems		Distribution		Consolidated
Balance as of December 31, 2019	$	151.0	$	67.6	$	37.5	$	256.1
Acquisitions	2.7		—		—		2.7
Foreign currency translation	(2.8)		(0.2)		—		(3.0)
Balance as of March 31, 2020	$	150.9	$	67.4	$	37.5	$	255.8