XML 55 R36.htm IDEA: XBRL DOCUMENT v3.23.2
Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill
The changes in the carrying amount of goodwill for the six months ended June 30, 2023, by reportable business segment, were as follows:

FMTHSTFSDPIDEX
Goodwill$800.9 $1,644.8 $393.0 $2,838.7 
   Accumulated goodwill impairment losses(20.7)(149.8)(30.1)(200.6)
Balance at January 1, 2023780.2 1,495.0 362.9 2,638.1 
Foreign currency translation3.4 16.2 3.1 22.7 
Acquisitions— 53.6 — 53.6 
Acquisition adjustments(1.8)1.8 — — 
Balance at June 30, 2023$781.8 $1,566.6 $366.0 $2,714.4 
Schedule of Gross Carrying Value and Accumulated Amortization For Each Major Class of Intangible Asset
The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at June 30, 2023 and December 31, 2022:

 At June 30, 2023At December 31, 2022
 Gross
Carrying
Amount
Accumulated
Amortization
NetWeighted
Average
Life
Gross
Carrying
Amount
Accumulated
Amortization
Net
Amortized intangible assets:
Patents$2.9 $(2.0)$0.9 12$2.9 $(1.8)$1.1 
Trade names194.5 (79.7)114.8 15186.5 (71.4)115.1 
Customer relationships805.6 (212.4)593.2 13772.2 (184.9)587.3 
Unpatented technology214.3 (60.4)153.9 12207.1 (57.8)149.3 
Software4.9 (1.3)3.6 54.8 (0.7)4.1 
Total amortized intangible assets1,222.2 (355.8)866.4 1,173.5 (316.6)856.9 
Indefinite-lived intangible assets:
Banjo trade name62.1 — 62.1 62.1 — 62.1 
Akron Brass trade name28.8 — 28.8 28.8 — 28.8 
Total intangible assets$1,313.1 $(355.8)$957.3 $1,264.4 $(316.6)$947.8 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Based on the intangible asset balances as of June 30, 2023, expected amortization expense for the remaining six months of 2023 and for the years 2024 through 2027 is as follows:
Maturity of Intangible AssetsEstimated Amortization
2023 (excluding the six months ended June 30, 2023)$47.7 
202491.6 
202590.2 
202688.5 
202784.5