Goodwill and Other Identifiable Intangible Assets (Tables)

6 Months Ended

Jun. 30, 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		June 30, 2024
Flow	$	767.1	$	(19.0)	$	748.1
Water Solutions	1,400.6		(5.0)		1,395.6
Pool	1,106.9		—		1,106.9
Total goodwill	$	3,274.6	$	(24.0)	$	3,250.6

Detail of Identifiable Intangible Assets

Identifiable intangible assets consisted of the following:

	June 30, 2024						December 31, 2023
In millions	Cost		Accumulated amortization		Net		Cost		Accumulated amortization		Net
Definite-life intangibles
Customer relationships	$	1,100.8	$	(381.0)	$	719.8	$	1,106.2	$	(361.8)	$	744.4
Proprietary technology and patents	89.3		(45.8)		43.5		89.7		(43.2)		46.5
Total definite-life intangibles	1,190.1		(426.8)		763.3		1,195.9		(405.0)		790.9
Indefinite-life intangibles
Trade names	249.1		—		249.1		251.5		—		251.5
Total intangibles	$	1,439.2	$	(426.8)	$	1,012.4	$	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:

	Q3-Q4
	2024		2025		2026		2027		2028		2029
Estimated amortization expense	$	27.0	$	54.0	$	52.8	$	51.5	$	49.0	$	48.6