Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for 2023 and 2022, by reportable business segment, were as follows:

	FMT		HST		FSDP		Total
Goodwill	$	701.7	$	1,264.3	$	402.3	$	2,368.3
Accumulated goodwill impairment losses	(20.7)		(149.8)		(30.1)		(200.6)
Balance at January 1, 2022	681.0		1,114.5		372.2		2,167.7
Foreign currency translation	(8.4)		(11.5)		(9.3)		(29.2)
Acquisitions	112.9		391.1		—		504.0
Measurement period adjustments	0.3		0.9		—		1.2
Divestitures	(5.6)		—		—		(5.6)
Balance at December 31, 2022	780.2		1,495.0		362.9		2,638.1
Foreign currency translation	6.6		38.6		5.7		50.9
Acquisitions	—		156.7		—		156.7
Measurement period adjustments	(1.8)		5.4		—		3.6
Divestitures	—		(11.0)		—		(11.0)
Balance at December 31, 2023	$	785.0	$	1,684.7	$	368.6	$	2,838.3

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 December 31, 2023 and 2022:

	At December 31, 2023							At December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted Average Life	Gross Carrying Amount		Accumulated Amortization		Net
Amortized intangible assets:
Patents	$	2.7	$	(2.0)	$	0.7	12	$	2.9	$	(1.8)	$	1.1
Trade names	171.9		(54.3)		117.6		15	186.5		(71.4)		115.1
Customer relationships	860.7		(228.7)		632.0		13	772.2		(184.9)		587.3
Unpatented technology	233.5		(66.3)		167.2		12	207.1		(57.8)		149.3
Software	5.3		(1.9)		3.4		5	4.8		(0.7)		4.1
Total amortized intangible assets	1,274.1		(353.2)		920.9		13	1,173.5		(316.6)		856.9
Indefinite-lived intangible assets:
Banjo trade name	62.1		—		62.1			62.1		—		62.1
Akron Brass trade name	28.8		—		28.8			28.8		—		28.8
Total intangible assets	$	1,365.0	$	(353.2)	$	1,011.8		$	1,264.4	$	(316.6)	$	947.8

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Based on the intangible asset balances as of December 31, 2023, expected amortization expense for the years 2024 through 2028 is as follows:

Maturity of Intangible Assets	Estimated Amortization
2024	$	98.8
2025	97.3
2026	95.7
2027	92.4
2028	89.4