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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
 
 
 
Changes in the carrying amounts of goodwill for the years ended December 31, 2019 and 2018, by segment, were as follows (in millions):
 
Segment
 
 
Electrical

Power

Total

BALANCE AT DECEMBER 31, 2017
$
717.6

$
371.4

$
1,089.0

Current year acquisitions
—

708.7

708.7

Foreign currency translation and prior year acquisitions
(3.5
)
(9.8
)
(13.3
)
BALANCE AT DECEMBER 31, 2018
$
714.1

$
1,070.3

$
1,784.4

Current year acquisitions(1)
15.2

14.2

29.4

Dispositions(1)
(3.1
)
—

(3.1
)
Foreign currency translation
1.5

(0.4
)
1.1

BALANCE AT DECEMBER 31, 2019
$
727.7

$
1,084.1

$
1,811.8


 (1) Refer to Note 3 – Business Acquisitions and Dispositions for additional information.
 
In 2019, the Company completed multiple acquisitions. These acquisitions have been accounted for as business combinations and have resulted in the recognition of $29.4 million of goodwill. The Company has not recorded any material goodwill impairments since the initial adoption of the related accounting guidance in 2002.
 
Identifiable intangible assets are recorded in Intangible assets, net in the Consolidated Balance Sheet. Identifiable intangible assets are comprised of the following (in millions):
 
December 31, 2019
 
December 31, 2018
 
Gross Amount

Accumulated
Amortization

 
Gross Amount

Accumulated
Amortization

Definite-lived:
 

 

 
 

 

Patents, tradenames and trademarks
$
202.7

$
(65.0
)
 
$
204.4

$
(58.6
)
Customer relationships, developed technology and other
861.0

(270.8
)
 
833.0

(212.6
)
TOTAL DEFINITE-LIVED INTANGIBLES
1,063.7

(335.8
)
 
1,037.4

(271.2
)
Indefinite-lived:
 

 

 
 

 

Tradenames and other
53.6

—

 
53.3

—

TOTAL INTANGIBLE ASSETS
$
1,117.3

$
(335.8
)
 
$
1,090.7

$
(271.2
)
 
Amortization expense associated with these definite-lived intangible assets was $72.0 million, $68.9 million and $34.9 million in 2019, 2018 and 2017, respectively. Amortization expense associated with these intangible assets is expected to be $74.3 million in 2020, $72.3 million in 2021, $67.2 million in 2022, $62.4 million in 2023 and $57.0 million in 2024. The Company amortizes intangible assets with definite lives using either an accelerated method that reflects the pattern in which economic benefits of the intangible assets are consumed and results in higher amortization in the earlier years of the assets useful life, or using a straight line method. Approximately 75% of the gross value of definite-lived intangible assets follow an accelerated amortization method.