GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 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)	September 30, 2020				December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizing intangibles:
Patents	$	7.4	$	(7.2)	$	7.4	$	(7.0)
Technology	7.5		(7.1)		7.5		(6.8)
Customer relationships	152.1		(75.6)		155.4		(71.4)
Other	3.7		(2.9)		3.8		(2.8)
Total	$	170.7	$	(92.8)	$	174.1	$	(88.0)
Unamortizing intangibles:
Trade names	42.7		—		45.0		—
Total intangibles	$	213.4	$	(92.8)	$	219.1	$	(88.0)

Amortization expense related to intangible assets for the third quarters ended September 30, 2020 and September 30, 2019 was $2.4 million and $2.4 million, and for the nine months ended September 30, 2020 and September 30, 2019, $7.0 million and $7.0 million respectively.

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

(In millions)	2020		2021		2022		2023		2024
	$	9.3	$	8.9	$	8.7	$	8.6	$	8.4

The change in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 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	1.4		—		—		1.4
Foreign currency translation	(1.8)		(0.1)		—		(1.9)
Balance as of September 30, 2020	$	150.6	$	67.5	$	37.5	$	255.6