GOODWILL AND OTHER INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Business Segment

The change in the carrying value of goodwill by segment follows:

	Americas		Asia Pacific		Europe, Middle East & Africa		Total
Balance, December 31, 2020	$	359.2	$	50.6	$	197.4	$	607.2
E&I Acquisition(1)	273.4		—		474.8		748.2
Foreign currency translation and other	(0.6)		0.3		(16.3)		(16.6)
Impairment(2)	—		—		(8.7)		(8.7)
Balance, December 31, 2021	$	632.0	$	50.9	$	647.2	$	1,330.1
E&I Acquisition(3)	0.2		—		4.3		4.5
Foreign currency translation and other	2.1		(3.8)		(48.2)		(49.9)
Balance, December 31, 2022	$	634.3	$	47.1	$	603.3	$	1,284.7

(1)    For more information on the E&I Acquisition, refer to “Note 2 - Acquisition”.

(2)    Impairment is related the sale of a heavy industrial UPS business, see additional details below.

(3)    Adjustment to purchase price allocation on the E&I Acquisition, refer to “Note 2 - Acquisition”

Schedule of Indefinite-Lived Intangible Assets

The gross carrying amount and accumulated amortization of identifiable intangible assets by major class follow:

As of December 31, 2022	Gross		Accumulated Amortization		Net
Customer relationships	$	1,741.8	$	(573.8)	$	1,168.0
Developed technology	483.4		(215.9)		267.5
Capitalized software	104.7		(68.7)		36.0
Trademarks	87.1		(31.9)		55.2
Backlog	35.9		(35.9)		—
Total finite-lived identifiable intangible assets	$	2,452.9	$	(926.2)	$	1,526.7
Indefinite-lived trademarks	289.4		—		289.4
Total intangible assets	$	2,742.3	$	(926.2)	$	1,816.1
As of December 31, 2021	Gross		Accumulated Amortization		Net
Customer relationships	$	1,824.8	$	(453.7)	$	1,371.1
Developed technology	508.1		(177.0)		331.1
Capitalized software	95.5		(53.7)		41.8
Trademarks	90.6		(24.3)		66.3
Backlog	39.6		(6.9)		32.7
Total finite-lived identifiable intangible assets	$	2,558.6	$	(715.6)	$	1,843.0
Indefinite-lived trademarks	295.2		—		295.2
Total intangible assets	$	2,853.8	$	(715.6)	$	2,138.2

Schedule of Finite-Lived Intangible Assets

The gross carrying amount and accumulated amortization of identifiable intangible assets by major class follow:

As of December 31, 2022	Gross		Accumulated Amortization		Net
Customer relationships	$	1,741.8	$	(573.8)	$	1,168.0
Developed technology	483.4		(215.9)		267.5
Capitalized software	104.7		(68.7)		36.0
Trademarks	87.1		(31.9)		55.2
Backlog	35.9		(35.9)		—
Total finite-lived identifiable intangible assets	$	2,452.9	$	(926.2)	$	1,526.7
Indefinite-lived trademarks	289.4		—		289.4
Total intangible assets	$	2,742.3	$	(926.2)	$	1,816.1
As of December 31, 2021	Gross		Accumulated Amortization		Net
Customer relationships	$	1,824.8	$	(453.7)	$	1,371.1
Developed technology	508.1		(177.0)		331.1
Capitalized software	95.5		(53.7)		41.8
Trademarks	90.6		(24.3)		66.3
Backlog	39.6		(6.9)		32.7
Total finite-lived identifiable intangible assets	$	2,558.6	$	(715.6)	$	1,843.0
Indefinite-lived trademarks	295.2		—		295.2
Total intangible assets	$	2,853.8	$	(715.6)	$	2,138.2

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Based on intangible asset balances as of December 31, 2022, expected amortization expense is as follows:

2023		2024		2025		2026		2027
$	193.1	$	193.0	$	193.0	$	183.4	$	151.8