Note 8:

Goodwill and Other Intangible Assets

Goodwill

The changes in the carrying amount of goodwill attributable to each reportable segment for the years ended December 31, 2018 and 2017 are as follows.

	Industrials			Energy			Medical			Total
Balance as of December 31, 2016	$	515.8		$	439.9		$	199.0		$	1,154.7
Acquisitions		7.9			-			-			7.9
Foreign currency translation and other⁽¹⁾		37.9			20.3			6.8			65.0
Balance as of December 31, 2017		561.6			460.2			205.8			1,227.6
Acquisitions		89.2			8.7			-			97.9
Foreign currency translation and other⁽²⁾		(18.1	)		(15.3	)		(2.6	)		(36.0	)
Balance as of December 31, 2018	$	632.7		$	453.6		$	203.2		$	1,289.5

⁽¹⁾

During the year ended December 31, 2017, the Company recorded an increase to goodwill of $0.4 million as a result of measurement period adjustments in the Medical segment.

⁽²⁾

During the year ended December 31, 2018, the Company recorded an increase to goodwill of $1.0 million as a result of measurement period adjustments in the Industrials segment.

The Company acquired four businesses during the year ended December 31, 2018. The excess of the purchase price over the estimated fair values of intangible assets, identifiable assets and assumed liabilities was recorded as goodwill. The allocation of the purchase price was preliminary for these acquisitions and is subject to refinement based on final fair values of the identified assets acquired and liabilities assumed. The goodwill attributable to the four businesses acquired during the year ended December 31, 2018 are as follows.

Acquisitions	Date of Acquisition	Industrials		Energy		Medical		Total
Runtech	February 8, 2018	$	63.6	$	-	$	-		63.6
PMI Pumps	May 29, 2018		-		8.7		-		8.7
DV Systems	November 2, 2018		4.7		-		-		4.7
MP Pumps	December 12, 2018		20.9		-		-		20.9
		$	89.2	$	8.7	$	-	$	97.9

In 2017, the Company acquired one entity in the Industrials segment as described in Note 3 “Business Combinations.” This acquisition resulted in $7.9 million of goodwill based on the purchase price allocation.

For the years ended December 31, 2018, 2017, and 2016, each reporting unit’s fair value was in excess of its net carrying value, and therefore, no goodwill impairment was recorded.

As of December 31, 2018 and 2017, goodwill included a total of $563.9 million of accumulated impairment losses within the Energy segment since the date of the KKR Transaction.

Other Intangible Assets

Other intangible assets as of December 31, 2018 and 2017 consisted of the following.

	2018					2017
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization


Amortized intangible assets:
Customer lists and relationships	$	1,245.5	$	(567.8	)	$	1,226.8	$	(473.0	)
Acquired technology		21.7		(4.8	)		8.1		(4.0	)
Trademarks		44.9		(13.0	)		30.3		(10.6	)
Backlog		68.8		(68.6	)		65.5		(65.5	)
Other		62.3		(31.9	)		53.6		(23.5	)
Unamortized intangible assets:
Trademarks		611.3		-			623.5		-
Total other intangible assets	$	2,054.5	$	(686.1	)	$	2,007.8	$	(576.6	)

Amortization of intangible assets was $125.8 million, $118.9 million and $124.2 million for the years ended December 31, 2018, 2017 and 2016, respectively. Amortization of intangible assets is anticipated to be approximately $119.5 million annually in 2019 through 2023 based upon currency exchange rates as of December 31, 2018.

The Company tests indefinite-lived intangible assets for impairment annually in the fourth quarter of each year using data as of October 1 of that year. The Company determines fair values for each of the indefinite-lived intangible assets using a relief from royalty methodology.

In the fourth quarter of 2018, the Company did not record an impairment charge related to indefinite-lived intangible assets as a result of the annual impairment test.

In the fourth quarter of 2017, as a result of the annual impairment test of indefinite-lived intangible assets, the Company recorded an impairment charge of $1.5 million related to indefinite-lived trademarks, including $1.2 million related to two trademarks in the Industrials segment and $0.3 million related to an indefinite-lived trademark in the Energy segment.

In the second quarter of 2016, as a result of the Industrials restructuring program, a $1.5 million charge was made for the impairment of a trademark that was discontinued and included in “Impairments of other intangible assets” in the Consolidated Statements of Operations. See Note 4 “Restructuring.”

In the fourth quarter of 2016, as a result of the annual impairment test of indefinite-lived intangible assets, the Company recorded an impairment charge of $24.4 million related to indefinite-lived trademarks, including $23.2 million related to three trademarks in the Industrials segment and $1.2 million related to an indefinite-lived trademark in the Energy segment.