Goodwill and Other Identifiable Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill by Segment

The changes in the carrying amount of goodwill by reportable segment were as follows:

In millions	December 31, 2022		Purchase Accounting Adjustments		Foreign  Currency  Translation		March 31, 2023
Industrial & Flow Technologies	$	747.6	$	—	$	8.1	$	755.7
Water Solutions	1,398.1		0.5		2.0		1,400.6
Pool	1,106.9		—		—		1,106.9
Total goodwill	$	3,252.6	$	0.5	$	10.1	$	3,263.2

Detail of Identifiable Intangible Assets

Identifiable intangible assets consisted of the following:

	March 31, 2023						December 31, 2022
In millions	Cost		Accumulated amortization		Net		Cost		Accumulated amortization		Net
Definite-life intangibles
Customer relationships	$	1,102.8	$	(322.7)	$	780.1	$	1,100.9	$	(308.9)	$	792.0
Proprietary technology and patents	89.4		(37.6)		51.8		89.3		(35.6)		53.7
Other	—		—		—		14.4		(14.4)		—
Total finite-life intangibles	1,192.2		(360.3)		831.9		1,204.6		(358.9)		845.7
Indefinite-life intangibles
Trade names	250.0		—		250.0		248.9		—		248.9
Total intangibles	$	1,442.2	$	(360.3)	$	1,081.9	$	1,453.5	$	(358.9)	$	1,094.6

Estimated Future Amortization Expense for Identifiable Intangible Assets

Estimated future amortization expense for identifiable intangible assets during the remainder of 2023 and the next five years is as follows:

	Q2-Q4
	2023		2024		2025		2026		2027		2028
Estimated amortization expense	$	40.9	$	54.1	$	54.1	$	52.8	$	51.5	$	49.0