GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

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


(In millions)	March 31, 2024				December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Definite-lived intangibles:
Customer relationships	$	264.7	$	(118.9)	$	263.7	$	(115.5)
Patents	7.3		(7.3)		7.3		(7.3)
Technology	7.5		(7.5)		7.5		(7.5)
Trade names	44.1		(6.4)		44.1		(5.8)
Other	3.3		(2.8)		3.4		(2.8)
Total	$	326.9	$	(142.9)	$	326.0	$	(138.9)
Indefinite-lived intangibles:
Trade names	42.7		—		42.9		—
Total intangibles	$	369.6	$	(142.9)	$	368.9	$	(138.9)

Amortization expense related to intangible assets for the first quarters ended March 31, 2024 and March 31, 2023 was $4.8 million and $4.2 million, respectively.

The change in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2024 is as follows:


(In millions)
	Water Systems		Fueling Systems		Distribution		Consolidated
Balance as of December 31, 2023	$	221.4	$	70.4	$	50.6	$	342.4

Adjustments to prior year acquisitions	(0.7)		—		(0.1)		(0.8)
Foreign currency translation	(1.1)		—		—		(1.1)
Balance as of March 31, 2024	$	219.6	$	70.4	$	50.5	$	340.5