GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2021

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, 2021				December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizing intangibles:
Patents	$	7.4	$	(7.2)	$	7.5	$	(7.3)
Technology	7.5		(7.2)		7.5		(7.2)
Customer relationships	163.7		(80.1)		165.1		(78.5)
Other	6.2		(2.9)		6.3		(3.0)
Total	$	184.8	$	(97.4)	$	186.4	$	(96.0)
Unamortizing intangibles:
Trade names	42.9		—		43.4		—
Total intangibles	$	227.7	$	(97.4)	$	229.8	$	(96.0)

Amortization expense related to intangible assets for the first quarters ended March 31, 2021 and March 31, 2020 was $2.5 million and $2.4 million, respectively.

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

(In millions)	2021		2022		2023		2024		2025
	$	9.9	$	9.6	$	9.5	$	9.3	$	8.5

The change in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2021, is as follows:

(In millions)
	Water Systems		Fueling Systems		Distribution		Consolidated
Balance as of December 31, 2020	$	161.5	$	67.7	$	37.5	$	266.7
Acquisitions	—		—		—		—
Adjustments to prior year acquisitions	(0.1)		—		—		(0.1)
Foreign currency translation	(1.3)		—		—		(1.3)
Balance as of March 31, 2021	$	160.1	$	67.7	$	37.5	$	265.3