Goodwill And Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Rollforward of Goodwill

The following is a rollforward of the Company’s goodwill by segment ($ in millions):

	Specialty Products & Technologies		Equipment & Consumables		Total
Balance, December 31, 2022	$	2,047.8	$	1,448.8	$	3,496.6
Impairment charges	(134.5)		(77.8)		(212.3)
Reclassification	(44.0)		44.0		—
Foreign currency translation	3.2		4.7		7.9
Balance, December 31, 2023	$	1,872.5	$	1,419.7	$	3,292.2

Schedule of Acquired Finite-Lived Intangible Assets

The following summarizes the gross carrying value, accumulated amortization and accumulated impairment losses, for each major category of intangible asset as of December 31 ($ in millions): 

	2023
	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment Losses		Net Carrying Amount
Finite-lived intangibles:
Patents and technology	$	439.5	$	(269.1)	$	—	$	170.4
Customer relationships and other intangibles	928.1		(706.9)		—		221.2
Trademarks and trade names	225.5		(115.8)		—		109.7
Total finite-lived intangibles	1,593.1		(1,091.8)		—		501.3
Indefinite-lived intangibles:
Trademarks and trade names	498.7		—		(46.0)		452.7
Total intangibles	$	2,091.8	$	(1,091.8)	$	(46.0)	$	954.0

	2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangibles:
Patents and technology	$	432.2	$	(236.4)	$	195.8
Customer relationships and other intangibles	924.1		(648.7)		275.4
Trademarks and trade names	224.8		(100.2)		124.6
Total finite-lived intangibles	1,581.1		(985.3)		595.8
Indefinite-lived intangibles:
Trademarks and trade names	490.9		—		490.9
Total intangibles	$	2,072.0	$	(985.3)	$	1,086.7

Schedule of Acquired Indefinite-Lived Intangible Assets

The following summarizes the gross carrying value, accumulated amortization and accumulated impairment losses, for each major category of intangible asset as of December 31 ($ in millions): 

	2023
	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment Losses		Net Carrying Amount
Finite-lived intangibles:
Patents and technology	$	439.5	$	(269.1)	$	—	$	170.4
Customer relationships and other intangibles	928.1		(706.9)		—		221.2
Trademarks and trade names	225.5		(115.8)		—		109.7
Total finite-lived intangibles	1,593.1		(1,091.8)		—		501.3
Indefinite-lived intangibles:
Trademarks and trade names	498.7		—		(46.0)		452.7
Total intangibles	$	2,091.8	$	(1,091.8)	$	(46.0)	$	954.0

	2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangibles:
Patents and technology	$	432.2	$	(236.4)	$	195.8
Customer relationships and other intangibles	924.1		(648.7)		275.4
Trademarks and trade names	224.8		(100.2)		124.6
Total finite-lived intangibles	1,581.1		(985.3)		595.8
Indefinite-lived intangibles:
Trademarks and trade names	490.9		—		490.9
Total intangibles	$	2,072.0	$	(985.3)	$	1,086.7

Summary of Intangible Asset Amortization

Based on the intangible assets recorded as of December 31, 2023, amortization expense is estimated as follows for the next five years and thereafter ($ in millions):

Years Ending December 31,
2024	$	87.5
2025	87.0
2026	78.6
2027	74.8
2028	72.0
Thereafter	101.4
	$	501.3