Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 27, 2024

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
	Gross		Accumulated Impairment Charges		Total		Gross		Accumulated Impairment Charges		Total		Gross		Accumulated Impairment Charges		Total
Balance at December 31, 2023	$	2,007.0	$	(134.5)	$	1,872.5	$	1,497.5	$	(77.8)	$	1,419.7	$	3,504.5	$	(212.3)	$	3,292.2
Impairment charges	—		(707.8)		(707.8)		—		(252.7)		(252.7)		—		(960.5)		(960.5)
Foreign currency translation	0.4		—		0.4		1.7		—		1.7		2.1		—		2.1
Balance at September 27, 2024	$	2,007.4	$	(842.3)	$	1,165.1	$	1,499.2	$	(330.5)	$	1,168.7	$	3,506.6	$	(1,172.8)	$	2,333.8

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 ($ in millions): 

	As of September 27, 2024
	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment Losses		Net Carrying Amount
Finite-lived intangibles:
Patents and technology	$	390.3	$	(239.4)	$	(87.2)	$	63.7
Customer relationships and other intangibles	912.5		(727.9)		(5.0)		179.6
Trademarks and trade names	190.9		(89.5)		—		101.4
Total finite-lived intangibles	1,493.7		(1,056.8)		(92.2)		344.7
Indefinite-lived intangibles:
Trademarks and trade names	498.5		—		(147.1)		351.4
Total intangibles	$	1,992.2	$	(1,056.8)	$	(239.3)	$	696.1

	As of December 31, 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

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 ($ in millions): 

	As of September 27, 2024
	Gross Carrying Amount		Accumulated Amortization		Accumulated Impairment Losses		Net Carrying Amount
Finite-lived intangibles:
Patents and technology	$	390.3	$	(239.4)	$	(87.2)	$	63.7
Customer relationships and other intangibles	912.5		(727.9)		(5.0)		179.6
Trademarks and trade names	190.9		(89.5)		—		101.4
Total finite-lived intangibles	1,493.7		(1,056.8)		(92.2)		344.7
Indefinite-lived intangibles:
Trademarks and trade names	498.5		—		(147.1)		351.4
Total intangibles	$	1,992.2	$	(1,056.8)	$	(239.3)	$	696.1

	As of December 31, 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