XML 27 R16.htm IDEA: XBRL DOCUMENT v3.21.2
Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
The following table represents the changes in goodwill by segment:
Cryo Tank SolutionsHeat Transfer SystemsSpecialty ProductsRepair, Service & LeasingConsolidated
Balance at December 31, 2020$93.2 $435.2 $172.4 $165.1 $865.9 
Goodwill acquired during the period (1)
— — 34.5 — 34.5 
Foreign currency translation adjustments and other(3.4)(1.9)0.1 — (5.2)
Purchase price adjustments (2)
— — 0.9 — 0.9 
Balance at June 30, 2021$89.8 $433.3 $207.9 $165.1 $896.1 
_______________
(1)For further information regarding goodwill acquired and the purchase price adjustments during the period refer to Note 11, “Business Combinations.”
(2)During the first six months of 2021, we recorded purchase price adjustments that decreased goodwill by $0.9 in Specialty Products related to the Blue-In-Green, LLC acquisition.
Amounts included in accumulated goodwill impairment loss at both June 30, 2021 and December 31, 2020 were $129.0 ($23.5 - Cryo Tank Solutions, $49.3 - Heat Transfer Systems, $35.8 - Specialty Products, $20.4 - Repair, Service & Leasing).
Intangible Assets
The following table displays the gross carrying amount and accumulated amortization for finite-lived intangible assets and indefinite-lived intangible assets (exclusive of goodwill) (1):
 June 30, 2021December 31, 2020
 Weighted-average Estimated Useful LifeGross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Finite-lived intangible assets:
Customer relationships13 years$311.6 $(71.2)$302.5 $(59.9)
Unpatented technology12 years115.5 (26.9)110.4 (22.3)
Patents and other6 years5.0 (0.2)8.4 (1.8)
Trademarks and trade names13 years3.5 (1.7)3.6 (1.4)
Land use rights50 years11.2 (1.5)11.1 (1.4)
Total finite-lived intangible assets14 years446.8 (101.5)436.0 (86.8)
Indefinite-lived intangible assets:
Trademarks and trade names145.7 — 143.9 — 
Total intangible assets$592.5 $(101.5)$579.9 $(86.8)
_______________
(1)Amounts include the impact of foreign currency translation. Fully amortized or impaired amounts are written off.
Amortization expense for intangible assets subject to amortization was $9.6 and $14.0 for the three months ended June 30, 2021 and 2020, respectively, and $18.4 and $28.0 for the six months ended June 30, 2021 and 2020, respectively. We estimate amortization expense to be recognized during the next five years as follows:
For the Year Ending December 31,
2021$37.2 
202236.1 
202335.6 
202435.2 
202534.3 
Government Grants
We received certain government grants related to land use rights for capacity expansion in China (“China Government Grants”). China Government Grants are generally recorded in other current liabilities and other long-term liabilities in the unaudited condensed consolidated balance sheets and generally recognized into income over the useful life of the associated assets (10 to 50 years).
China Government Grants are presented in our unaudited condensed consolidated balance sheets as follows:
June 30,
2021		December 31,
2020
Current$0.5 $0.5 
Long-term7.3 7.3 
Total China Government Grants$7.8 $7.8