Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Segment

The following table provides balances for goodwill by reportable segment as of September 30, 2021 (in millions):

	Communications		Clean Energy and Infrastructure		Oil and Gas		Electrical Transmission		Total Goodwill
Goodwill, gross	$	589.5	$	165.4	$	510.1	$	197.9	$	1,462.9
Accumulated impairment loss	—		—		(124.3)		—		(124.3)
Goodwill, net	$	589.5	$	165.4	$	385.8	$	197.9	$	1,338.6

Schedule of Finite-Lived Intangible Assets

The following table provides a reconciliation of changes in other intangible assets, net, for the period indicated (in millions):

	Other Intangible Assets
	Non-Amortizing		Amortizing
	Trade Names		Customer Relationships and Backlog		Pre-Qualifications		Other (a)		Total
Other intangible assets, gross, as of December 31, 2020	$	34.5	$	297.9	$	73.8	$	26.4	$	432.6
Accumulated amortization			(218.5)		(10.6)		(19.5)		(248.6)
Other intangible assets, net, as of December 31, 2020	$	34.5	$	79.4	$	63.2	$	6.9	$	184.0
Additions from new business combinations	—		311.8		—		55.4		367.2
Currency translation adjustments	—		—		0.3		—		0.3
Amortization expense			(41.5)		(8.4)		(4.6)		(54.5)
Other intangible assets, net, as of September 30, 2021	$	34.5	$	349.7	$	55.1	$	57.7	$	497.0

(a)Consists principally of trade names and non-compete agreements.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of consideration paid and net assets acquired for the 2021 acquisitions, as adjusted (in millions):

Acquisition consideration:	2021
Cash, net of cash acquired	$	604.8
Estimated fair value of contingent consideration	40.1
Total consideration transferred	$	644.9
Identifiable assets acquired and liabilities assumed:
Current assets, primarily accounts receivable	$	219.2
Long-term assets, primarily property and equipment and operating lease assets	187.5
Amortizing intangible assets	367.2
Current liabilities, including current portion of operating lease liabilities	(145.4)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes	(79.0)
Total identifiable net assets	$	549.5
Goodwill	$	95.4
Total net assets acquired, including goodwill	$	644.9