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Goodwill and Other Identifiable Intangible Assets
12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Identifiable Intangible Assets Goodwill and Other Identifiable Intangible Assets
The changes in the carrying amount of goodwill by reporting unit were as follows:
In millionsDecember 31, 2024Acquisitions/
divestitures
Foreign currency
translation/other
December 31, 2025
Systems Protection$790.1 $398.0 $14.3 $1,202.4 
Electrical Connections1,431.7 43.9 — 1,475.6 
Total goodwill$2,221.8 $441.9 $14.3 $2,678.0 
In millionsDecember 31, 2023Acquisitions/
divestitures
Foreign currency
translation/other
December 31, 2024
Systems Protection$430.4 $365.9 $(6.2)$790.1 
Electrical Connections1,427.7 4.0 — 1,431.7 
Total goodwill$1,858.1 $369.9 $(6.2)$2,221.8 
There was no impairment expense recorded in 2025, 2024 or 2023 related to goodwill.
Identifiable intangible assets consisted of the following at December 31:
  
20252024
In millionsCostAccumulated
amortization
NetCostAccumulated
amortization
Net
Definite-life intangibles
Customer relationships$1,904.0 $(551.5)$1,352.5 $1,571.7 $(458.7)$1,113.0 
Proprietary technologies and patents
111.8 (31.8)80.0 78.2 (19.5)58.7 
Other definite-life intangible assets139.5 (63.1)76.4 63.7 (18.9)44.8 
Total definite-life intangibles2,155.3 (646.4)1,508.9 1,713.6 (497.1)1,216.5 
Indefinite-life intangibles
Trade names367.6 — 367.6 370.5 — 370.5 
Total intangibles$2,522.9 $(646.4)$1,876.5 $2,084.1 $(497.1)$1,587.0 
Identifiable intangible asset amortization expense in 2025, 2024 and 2023 was $147.1 million, $94.7 million and $69.5 million, respectively. There was no impairment expense recorded in 2025, 2024 or 2023 related to identifiable intangible assets.
Estimated future amortization expense for identifiable intangible assets during the next five years is as follows:
In millions20262027202820292030
Estimated amortization expense$153.9 $136.4 $111.0 $111.0 $107.9