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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets 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, 2022 and 2021 are as follows.
Industrial Technologies and ServicesPrecision and Science TechnologiesTotal
Balance as of December 31, 2020
$4,151.2 $1,431.4 $5,582.6 
Acquisitions87.9 391.4 479.3 
Foreign currency translation and other(1)
(61.8)(18.5)(80.3)
Balance as of December 31, 2021
4,177.3 1,804.3 5,981.6 
Acquisitions121.5 86.4 207.9 
Foreign currency translation and other(1)
(76.3)(49.0)(125.3)
Balance as of December 31, 2022
$4,222.5 $1,841.7 $6,064.2 
(1)Includes measurement period adjustments.
The Company acquired multiple businesses during the year ended December 31, 2022. The excess of the purchase price over the estimated fair values of intangible assets, identifiable assets and assumed liabilities was recorded as goodwill. The allocation
of the purchase price was preliminary for certain of these acquisitions and is subject to refinement based on final fair values of the identified assets acquired and liabilities assumed. The goodwill attributable to these businesses is as follows. 
2022 AcquisitionsIndustrial Technologies and ServicesPrecision and Science TechnologiesTotal
Dosatron International$— $57.4 $57.4 
Other acquisitions121.5 29.0 150.5 
$121.5 $86.4 $207.9 
The Company acquired several businesses during the year ended December 31, 2021. The excess of the purchase price over the estimated fair values of intangible assets, identifiable assets and assumed liabilities was recorded as goodwill. The goodwill attributable to these businesses is as follows. 
2021 AcquisitionsIndustrial Technologies and ServicesPrecision and Science TechnologiesTotal
Seepex$— $245.3 $245.3 
M-D Pneumatics and Kinney Vacuum Pumps80.0 — 80.0 
Maximus Solutions— 75.7 75.7 
Other acquisitions7.9 70.4 78.3 
$87.9 $391.4 $479.3 
As of December 31, 2022 and 2021, goodwill included a total of $220.6 million of accumulated impairment losses within the Industrial Technologies and Services segment related to impairments recognized in and prior to 2015.
Goodwill Impairment Tests
Consistent with our accounting policy described in Note 1, we performed our annual goodwill impairment testing as of the first day of our fiscal fourth quarters of 2022, 2021 and 2020. For the years ended December 31, 2022, 2021 and 2020, each reporting unit’s fair value was in excess of its net carrying value, and therefore, no goodwill impairment was recorded.
Other Intangible Assets
Other intangible assets as of December 31, 2022 and 2021 consisted of the following.
December 31, 2022December 31, 2021
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Amortized intangible assets:
Customer lists and relationships$3,029.0 $(1,286.1)$1,742.9 $3,055.0 $(1,048.3)$2,006.7 
Technology360.0 (124.5)235.5 356.4 (77.8)278.6 
Tradenames46.2 (22.7)23.5 47.8 (19.0)28.8 
Backlog1.0 (0.3)0.7 8.1 (5.1)3.0 
Other113.7 (93.2)20.5 107.1 (76.9)30.2 
Unamortized intangible assets:
Tradenames1,555.5 — 1,555.5 1,565.4 — 1,565.4 
Total other intangible assets$5,105.4 $(1,526.8)$3,578.6 $5,139.8 $(1,227.1)$3,912.7 
Amortization of intangible assets was $347.6 million, $332.9 million and $335.1 million for the years ended December 31, 2022, 2021 and 2020, respectively. Amortization of intangible assets is anticipated to be approximately $340 million in each of 2023 and 2024, $260 million in 2025 and $200 million in each of 2026 and 2027 based upon currency exchange rates as of December 31, 2022.
Other Intangible Asset Impairment Tests
The Company recognized an impairment in the third quarter of 2020 of $19.9 million to reduce the carrying value of two tradenames in the Industrial Technologies and Services segment.
Consistent with our accounting policy described in Note 1, we performed our annual intangible asset impairment testing as of the first day of our fiscal fourth quarters of 2022, 2021 and 2020. For the years ended December 31, 2022, 2021 and 2020, other than as discussed above, each tradename’s fair value was in excess of its net carrying value, and therefore, no impairment was recorded.