Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

11. Goodwill and Intangible Assets

Changes in goodwill from January 1, 2019 through March 31, 2019 were as follows:

	Power Transmission Technologies			Automation & Specialty			Total
Net goodwill balance January 1, 2019	$	410.2		$	1,252.1		$	1,662.3
Measurement period adjustment related to acquisition of A&S		—			26.2			26.2
Impact of changes in foreign currency		(2.0	)		(3.0	)		(5.0	)
Net goodwill balance March 31, 2019	$	408.2		$	1,275.3		$	1,683.5

Other intangible assets as of March 31, 2019 and December 31, 2018 consisted of the following:

	March 31, 2019						December 31, 2018
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Other intangible assets
Intangible assets not subject to amortization:
Tradenames and trademarks	$	260.7	$	—	$	260.7	$	262.0	$	—	$	262.0
In-process research and development		16.0		—		16.0		16.0		—		16.0
Intangible assets subject to amortization:
Customer relationships		1,191.9		101.0		1,090.9		1,196.4		91.0		1,105.4
Product technology and patents		210.0		17.7		192.3		212.9		10.6		202.3
Total intangible assets	$	1,678.6	$	118.7	$	1,559.9	$	1,687.3	$	101.6	$	1,585.7

The Company recorded $17.8 million and $2.5 million of amortization expense in the quarters ended March 31, 2019 and 2018, respectively.

The estimated amortization expense for intangible assets is approximately $52.9 million for the remainder of 2019, $70.7 million in each of the next four years and then $947.5 million thereafter.