Goodwill and Other Identifiable Intangible Assets (Tables)

9 Months Ended

Sep. 30, 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		September 30, 2023
Industrial & Flow Technologies	$	747.6	$	—	$	(6.8)	$	740.8
Water Solutions	1,398.1		(0.8)		(2.5)		1,394.8
Pool	1,106.9		—		—		1,106.9
Total goodwill	$	3,252.6	$	(0.8)	$	(9.3)	$	3,242.5

Detail of Identifiable Intangible Assets

Identifiable intangible assets consisted of the following:

	September 30, 2023						December 31, 2022
In millions	Cost		Accumulated amortization		Net		Cost		Accumulated amortization		Net
Definite-life intangibles
Customer relationships	$	1,097.9	$	(342.5)	$	755.4	$	1,100.9	$	(308.9)	$	792.0
Proprietary technology and patents	89.0		(40.9)		48.1		89.3		(35.6)		53.7
Other	—		—		—		14.4		(14.4)		—
Total definite-life intangibles	1,186.9		(383.4)		803.5		1,204.6		(358.9)		845.7
Indefinite-life intangibles
Trade names	248.2		—		248.2		248.9		—		248.9
Total intangibles	$	1,435.1	$	(383.4)	$	1,051.7	$	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:

	Q4
	2023		2024		2025		2026		2027		2028
Estimated amortization expense	$	13.6	$	53.9	$	53.9	$	52.7	$	51.4	$	48.9