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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill

The changes in the carrying amount of goodwill and accumulated impairment losses were as follows:

 

 

 

2021

 

 

2020

 

 

 

Gross

Carrying

Amount

 

 

Accumulated

Impairment

Loss

 

 

Net

 

 

Gross

Carrying

Amount

 

 

Accumulated

Impairment

Loss

 

 

Net

 

Beginning balance at January 1

 

$

1,211.8

 

 

$

(145.4

)

 

$

1,066.4

 

 

$

1,202.8

 

 

$

(144.3

)

 

$

1,058.5

 

Acquired goodwill (1)

 

 

168.0

 

 

 

—

 

 

 

168.0

 

 

 

—

 

 

 

—

 

 

 

—

 

Impairment of goodwill (2)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1.1

)

 

 

(1.1

)

Foreign currency translation

 

 

(6.2

)

 

 

—

 

 

 

(6.2

)

 

 

9.0

 

 

 

—

 

 

 

9.0

 

Ending balance at December 31

 

$

1,373.6

 

 

$

(145.4

)

 

$

1,228.2

 

 

$

1,211.8

 

 

$

(145.4

)

 

$

1,066.4

 

 

(1)

During the year ended December 31, 2021, the Company recorded goodwill related to the Photon Control Acquisition.

(2)

During the year ended December 31, 2020, the Company recorded goodwill impairment charges related to the pending closure of a facility in Europe.
Acquired Intangible Assets

Intangible Assets

The Company’s acquired intangible assets are comprised of the following:

 

As of December 31, 2021

 

Gross

 

 

Accumulated Impairment

Charges

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net

 

Completed technology(1)

 

$

556.4

 

 

$

(0.1

)

 

$

(241.7

)

 

$

(0.2

)

 

$

314.4

 

Customer relationships(1)

 

 

317.6

 

 

 

(1.4

)

 

 

(124.2

)

 

 

(0.2

)

 

 

191.8

 

Patents, trademarks, trade names and other(1)

 

 

122.7

 

 

 

—

 

 

 

(52.5

)

 

 

(0.4

)

 

 

69.8

 

 

 

$

996.7

 

 

$

(1.5

)

 

$

(418.4

)

 

$

(0.8

)

 

$

576.0

 

 

(1)

During the year ended December 31, 2021, the Company recorded $121.2 of separately identified intangible assets related to the Photon Control Acquisition, representing $110.0 in completed technology, $9.4 in customer relationships and $1.8 in patents, trademarks, trade names and other.

 

As of December 31, 2020

 

Gross

 

 

Accumulated Impairment

Charges

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net

 

Completed technology

 

$

446.4

 

 

$

(0.1

)

 

$

(209.8

)

 

$

(0.1

)

 

$

236.4

 

Customer relationships

 

 

308.2

 

 

 

(1.4

)

 

 

(104.8

)

 

 

1.7

 

 

 

203.7

 

Patents, trademarks, trade names and other

 

 

120.9

 

 

 

—

 

 

 

(48.6

)

 

 

(0.2

)

 

 

72.1

 

 

 

$

875.5

 

 

$

(1.5

)

 

$

(363.2

)

 

$

1.4

 

 

$

512.2

 

 
Estimated Net Amortization Expense Aggregate net amortization expense related to acquired intangible assets for future years is:

Year

 

Amount

 

2022

 

$

59.6

 

2023

 

 

58.2

 

2024

 

 

57.3

 

2025

 

 

56.3

 

2026

 

 

52.7

 

Thereafter

 

 

236.0