Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amounts of goodwill for the years ended December 31, 2021 and 2020, by segment, were as follows (in millions):


	Segment
	Electrical Solutions		Utility Solutions		Total
BALANCE AT DECEMBER 31, 2019	$	589.0	$	1,172.6	$	1,761.6
Current year acquisitions(1)	21.1		78.6		99.7
Prior year acquisitions	0.5		2.6		3.1
Foreign currency translation	3.1		5.6		8.7
BALANCE AT DECEMBER 31, 2020	$	613.7	$	1,259.4	$	1,873.1
Prior year acquisitions(1)	—		6.6		6.6
Dispositions(1)	—		(1.9)		(1.9)
Foreign currency translation	(1.2)		(5.3)		(6.5)
BALANCE AT DECEMBER 31, 2021	$	612.5	$	1,258.8	$	1,871.3

(1) Refer to Note 4 – Business Acquisitions and Dispositions for additional information.

Goodwill of the Commercial and Industrial Lighting business is included in assets held for sale, non-current portion as of the beginning of the earliest period presented on the Company's Consolidated Balance Sheets. See Note 2, Discontinued Operations, for further information.

In 2020, the Company completed multiple acquisitions. These acquisitions have been accounted for as business combinations and have resulted in the recognition of $106.3 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 Other intangible assets, net in the Consolidated Balance Sheet. Identifiable intangible assets are comprised of the following (in millions):


	December 31, 2021				December 31, 2020
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Definite-lived:
Patents, tradenames and trademarks	$	181.3	$	(67.6)	$	182.0	$	(59.5)
Customer relationships, developed technology and other	901.2		(374.0)		918.9		(311.4)
TOTAL DEFINITE-LIVED INTANGIBLES	1,082.5		(441.6)		1,100.9		(370.9)
Indefinite-lived:
Tradenames and other	40.6		—		40.6		—
TOTAL OTHER INTANGIBLE ASSETS	$	1,123.1	$	(441.6)	$	1,141.5	$	(370.9)

Amortization expense associated with these definite-lived intangible assets was $75.7 million, $72.1 million and $68.7 million in 2021, 2020 and 2019, respectively. Amortization expense associated with these intangible assets is expected to be $69.8 million in 2022, $65.4 million in 2023, $61.4 million in 2024, $57.3 million in 2025 and $53.7 million in 2026. 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 80% of the gross value of definite-lived intangible assets follow an accelerated amortization method.