Goodwill and Other Intangible Assets

6 Months Ended

Jun. 28, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

NOTE 4. GOODWILL AND OTHER INTANGIBLE ASSETS

The following is a rollforward of our goodwill ($ in millions):

Balance, December 31, 2018	$	6,133.1
Adjustments to preliminary purchase price allocations for acquisitions completed in 2018	40.4
Attributable to 2019 acquisitions	1,565.7
Foreign currency translation & other	11.7
Balance, June 28, 2019	$	7,750.9

The carrying value of goodwill by segment is summarized as follows ($ in millions):

	June 28, 2019		December 31, 2018
Professional Instrumentation	$	6,508.8	$	4,894.6
Industrial Technologies	1,242.1		1,238.5
Total goodwill	$	7,750.9	$	6,133.1

We have not identified any triggering events which would have indicated a potential impairment of goodwill during the six months ended June 28, 2019.

Finite-lived intangible assets are amortized over the shorter of their legal or estimated useful lives. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible asset as of June 28, 2019 and December 31, 2018 ($ in millions):

	June 28, 2019					December 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite-lived intangibles:
Patents and technology	$	988.7	$	(313.4	)	$	614.0	$	(280.8	)
Customer relationships and other intangibles	3,113.1		(686.3		)	2,204.2		(589.9		)
Total finite-lived intangibles	4,101.8		(999.7		)	2,818.2		(870.7		)
Indefinite-lived intangibles:
Trademarks and trade names	711.1		—			528.8		—
Total intangibles	$	4,812.9	$	(999.7	)	$	3,347.0	$	(870.7	)

During the three months ended June 28, 2019, we acquired finite lived intangible assets, consisting primarily of customer relationships and developed technology, with a weighted average life of 10 years. Refer to Note 2 for additional information on the intangible assets acquired.