GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes to Goodwill

The following table presents changes to goodwill during the nine months ended September 30, 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	27.2		—		—		—		27.2
Translation Adjustments	(97.6)		(12.6)		(3.9)		(0.9)		(80.2)
Balance as of September 30, 2022	$	3,968.8	$	416.3	$	124.9	$	329.6	$	3,098.0
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):

		September 30, 2022				January 1, 2022
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	16	$	2,284.1	$	488.7	$	2,335.4	$	405.0
Technology	13	242.8		120.4		250.1		114.1
Trademarks	10	384.9		63.4		400.0		37.2
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
		$	2,928.4	$	689.1	$	3,002.1	$	572.9
Intangible Assets, Net of Amortization		$	2,239.3			$	2,429.2

Schedule of Indefinite-Lived Intangible Assets

The following table presents intangible assets (in millions):

		September 30, 2022				January 1, 2022
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	16	$	2,284.1	$	488.7	$	2,335.4	$	405.0
Technology	13	242.8		120.4		250.1		114.1
Trademarks	10	384.9		63.4		400.0		37.2
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
		$	2,928.4	$	689.1	$	3,002.1	$	572.9
Intangible Assets, Net of Amortization		$	2,239.3			$	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	$	186.6
2024	186.0
2025	184.0
2026	180.6
2027	146.8