Goodwill and Other Identifiable Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

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, 2023		Foreign Currency Translation		March 31, 2024
Flow	$	767.1	$	(15.2)	$	751.9
Water Solutions	1,400.6		(3.6)		1,397.0
Pool	1,106.9		—		1,106.9
Total goodwill	$	3,274.6	$	(18.8)	$	3,255.8

Detail of Identifiable Intangible Assets

Identifiable intangible assets consisted of the following:

	March 31, 2024						December 31, 2023
In millions	Cost		Accumulated amortization		Net		Cost		Accumulated amortization		Net
Definite-life intangibles
Customer relationships	$	1,101.2	$	(369.5)	$	731.7	$	1,106.2	$	(361.8)	$	744.4
Proprietary technology and patents	89.3		(44.4)		44.9		89.7		(43.2)		46.5
Total finite-life intangibles	1,190.5		(413.9)		776.6		1,195.9		(405.0)		790.9
Indefinite-life intangibles
Trade names	249.6		—		249.6		251.5		—		251.5
Total intangibles	$	1,440.1	$	(413.9)	$	1,026.2	$	1,447.4	$	(405.0)	$	1,042.4

Estimated Future Amortization Expense for Identifiable Intangible Assets

Estimated future amortization expense for identifiable intangible assets during the remainder of 2024 and the next five years is as follows:

	Q2-Q4
	2024		2025		2026		2027		2028		2029
Estimated amortization expense	$	40.5	$	54.0	$	52.7	$	51.5	$	48.9	$	48.5