Acquisitions, Goodwill, and Other Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Segment

The following table provides a reconciliation of changes in goodwill by reportable segment for the nine month period ended September 30, 2024 (in millions):

	Communications		Clean Energy and Infrastructure		Power Delivery		Oil and Gas		Total Goodwill
Goodwill, gross, as of December 31, 2023	$	646.9	$	742.0	$	270.8	$	586.0	$	2,245.7
Accumulated impairment loss (a)	—		—		—		(119.3)		(119.3)
Goodwill, net, as of December 31, 2023	$	646.9	$	742.0	$	270.8	$	466.7	$	2,126.4
Additions from new business combinations	—		—		8.9		—		8.9
Measurement period adjustments (b)	0.7		—		—		—		0.7
Currency translation adjustments	—		—		—		(0.3)		(0.3)
Goodwill, net as of September 30, 2024	$	647.6	$	742.0	$	279.7	$	466.4	$	2,135.7

(a)    Accumulated impairment loss includes the effects of currency translation gains and/or losses.

(b)    Measurement period adjustments represent adjustments, net, to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.

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, Net
	Customer Relationships and Backlog		Trade Names (a)		Other (b)		Total
Other intangible assets, gross, as of December 31, 2023	$	1,096.6	$	229.0	$	87.6	$	1,413.2
Accumulated amortization	(529.3)		(49.8)		(49.8)		(628.9)
Other intangible assets, net, as of December 31, 2023	$	567.3	$	179.2	$	37.8	$	784.3
Additions from new business combinations	35.0		1.0		—		36.0
Currency translation adjustments	—		—		(0.4)		(0.4)
Amortization expense	(82.9)		(13.9)		(4.9)		(101.7)
Other intangible assets, net, as of September 30, 2024	$	519.4	$	166.3	$	32.5	$	718.2

(a)Includes approximately $34.5 million of non-amortizing trade names as of both September 30, 2024 and December 31, 2023.

(b)Consists principally of pre-qualifications and non-compete agreements.