Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The changes in the net carrying value of goodwill by reportable segment for the nine months ended September 30, 2020, are as follows:

	Sealing Products		Engineered Products		Total
	(in millions)
Goodwill as of December 31, 2019	$	468.6	$	16.7	$	485.3
Acquisition of business	7.1		—		7.1
Divestiture of businesses	(7.0)		—		(7.0)
Foreign currency translation	1.6		(0.1)		1.5
Goodwill as of September 30, 2020	$	470.3	$	16.6	$	486.9

The goodwill balances reflected above are net of accumulated impairment losses of $27.8 million for the Sealing Products segment and $154.8 million for the Engineered Products segment as of September 30, 2020 and December 31, 2019.

Identifiable intangible assets are as follows:

	As of September 30, 2020				As of December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
	(in millions)
Amortized:
Customer relationships	$	455.8	$	168.2	$	470.1	$	166.2
Existing technology	98.8		38.3		117.5		50.8
Trademarks	37.5		24.7		39.4		24.1
Other	33.4		24.8		33.6		24.0
	625.5		256.0		660.6		265.1
Indefinite-Lived:
Trademarks	53.0		—		71.4		—
Total	$	678.5	$	256.0	$	732.0	$	265.1

Amortization for the quarters ended September 30, 2020 and 2019 were $8.9 million, and $7.4 million, respectively. Amortization for the nine months ended September 30, 2020 and 2019 were $26.8 million and $21.4 million, respectively.

Impairments of indefinite-lived trademarks during the nine months ended September 30, 2020 were $18.2 million.