GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The carrying amounts of the Company’s intangible assets, excluding goodwill, are as follows:


(In millions)	September 30, 2023				December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Definite-lived intangibles:
Customer relationships	$	250.6	$	(111.4)	$	251.6	$	(101.5)
Patents	7.3		(7.3)		7.3		(7.3)
Technology	7.5		(7.5)		7.5		(7.4)
Trade names	41.6		(5.3)		41.8		(3.7)
Other	3.3		(2.8)		3.4		(2.7)
Total	$	310.3	$	(134.3)	$	311.6	$	(122.6)
Indefinite-lived intangibles:
Trade names	42.6		—		42.3		—
Total intangibles	$	352.9	$	(134.3)	$	353.9	$	(122.6)

Amortization expense related to intangible assets for the third quarters ended September 30, 2023 and September 30, 2022 was $4.2 million and $4.2 million, respectively, and for the nine months ended September 30, 2023 and September 30, 2022 was $12.7 million and $12.9 million, respectively.

The change in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2023 is as follows:


(In millions)
	Water Systems		Fueling Systems		Distribution		Consolidated
Balance as of December 31, 2022	$	211.9	$	70.3	$	45.8	$	328.0
Acquisitions	1.0		—		—		1.0

Foreign currency translation	(0.2)		—		—		(0.2)
Balance as of September 30, 2023	$	212.7	$	70.3	$	45.8	$	328.8