Goodwill and Other Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2013

Changes in Carrying Amount of Goodwill by Segment

The changes in the carrying amount of goodwill for the year ended December 31, 2013 and December 31, 2012 by reportable segment were as follows:

In millions	December 31, 2012		Acquisitions/ divestitures			Foreign currency translation/other		December 31, 2013
Valves & Controls	$	1,511.6	$	—		$	—	$	1,511.6
Process Technologies	1,500.4		7.6			16.5		1,524.5
Flow Technologies	937.3		(5.7		)	8.5		940.1
Technical Solutions	1,161.7		(5.3		)	1.6		1,158.0
Total goodwill	$	5,111.0	$	(3.4	)	$	26.6	$	5,134.2

In millions	December 31, 2011		Acquisitions/ divestitures		Foreign currency translation/other			December 31, 2012
Valves & Controls	$	—	$	1,511.6	$	—		$	1,511.6
Process Technologies	1,396.9		111.0		(7.5		)	1,500.4
Flow Technologies	597.9		318.5		20.9			937.3
Technical Solutions	279.1		881.6		1.0			1,161.7
Total goodwill	$	2,273.9	$	2,822.7	$	14.4		$	5,111.0

Identifiable Intangible Assets

Identifiable intangible assets consisted of the following at December 31:

	2013							2012
In millions	Cost		Accumulated amortization			Net		Cost		Accumulated amortization			Net
Finite-life intangibles
Customer relationships	$	1,286.8	$	(243.8	)	$	1,043.0	$	1,291.5	$	(152.8	)	$	1,138.7
Trade names	2.1		(0.9		)	1.2		1.5		(0.7		)	0.8
Proprietary technology and patents	264.6		(80.1		)	184.5		263.7		(57.7		)	206.0
Backlog	2.6		(1.2		)	1.4		43.7		(18.2		)	25.5
Total finite-life intangibles	1,556.1		(326.0		)	1,230.1		1,600.4		(229.4		)	1,371.0
Indefinite-life intangibles
Trade names	546.0		—			546.0		555.9		—			555.9
Total intangibles	$	2,102.1	$	(326.0	)	$	1,776.1	$	2,156.3	$	(229.4	)	$	1,926.9

Estimated Future Amortization Expense for Identifiable Intangible Assets

Estimated future amortization expense for identifiable intangible assets during the next five years is as follows:

In millions	2014		2015		2016		2017		2018
Estimated amortization expense	$	115.9	$	115.5	$	114.4	$	112.9	$	110.2