GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes to Goodwill

The following table presents changes to goodwill during the three months ended March 31, 2022 (in millions):

	Total		Commercial Systems		Industrial Systems		Climate Solutions		Motion Control Solutions
Balance as of January 1, 2022	$	4,039.2	$	428.9	$	128.8	$	330.5	$	3,151.0
Acquisition and Valuation Adjustments	17.3		—		—		—		17.3
Translation Adjustments	(5.2)		—		(0.1)		(0.1)		(5.0)
Balance as of March 31, 2022	$	4,051.3	$	428.9	$	128.7	$	330.4	$	3,163.3
Cumulative Goodwill Impairment Charges	$	328.7	$	183.2	$	105.1	$	17.2	$	23.2

Schedule of Finite-Lived Intangible Assets

The following table presents intangible assets (in millions):

		March 31, 2022				January 1, 2022
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	16	$	2,355.6	$	438.6	$	2,335.4	$	405.0
Technology	13	250.1		117.3		250.1		114.1
Trademarks	10	399.6		46.7		400.0		37.2
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
		$	3,021.9	$	619.2	$	3,002.1	$	572.9
Intangible Assets, Net of Amortization		$	2,402.7			$	2,429.2

Schedule of Indefinite-Lived Intangible Assets

The following table presents intangible assets (in millions):

		March 31, 2022				January 1, 2022
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	16	$	2,355.6	$	438.6	$	2,335.4	$	405.0
Technology	13	250.1		117.3		250.1		114.1
Trademarks	10	399.6		46.7		400.0		37.2
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
		$	3,021.9	$	619.2	$	3,002.1	$	572.9
Intangible Assets, Net of Amortization		$	2,402.7			$	2,429.2

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents future estimated annual amortization for intangible assets (in millions):

Year	Estimated Amortization
2023	$	187.0
2024	186.3
2025	184.2
2026	180.7
2027	145.8