GOODWILL AND OTHER INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

The following table provides a rollforward of the carrying amount of goodwill for the nine months ended September 30, 2017 by segment.



	Industrial Process			Motion Technologies				Connect & Control Technologies			Total
Goodwill - December 31, 2016		$	308.4		$	202.3			$	264.0	$	774.7
Acquired		—			91.2				—		91.2
Adjustments to purchase price allocations		—			(11.7		)		—		(11.7		)
Foreign exchange translation		14.5			11.7				2.2		28.4
Goodwill - September 30, 2017		$	322.9		$	293.5			$	266.2	$	882.6

Goodwill acquired during 2017 relates to our acquisition of Axtone Railway Components (Axtone) and represents the excess of the purchase price over the net assets acquired, the valuation of which is pending completion. Upon completion of the valuation, goodwill acquired will be adjusted to reflect the final fair value of the net assets acquired. Refer to Note 18, Acquisitions, for additional information.

Other Intangible Assets, Net

Information regarding our other intangible assets is as follows:



	September 30, 2017										December 31, 2016
	Gross Carrying Amount			Accumulated Amortization				Net Intangibles			Gross Carrying Amount			Accumulated Amortization				Net Intangibles
Customer relationships		$	165.5		$	(71.1	)		$	94.4		$	155.8		$	(59.3	)		$	96.5
Proprietary technology		54.2			(20.7		)		33.5			52.5			(16.8		)		35.7
Patents and other		13.5			(9.0		)		4.5			9.0			(7.6		)		1.4
Finite-lived intangible total		233.2			(100.8		)		132.4			217.3			(83.7		)		133.6
Indefinite-lived intangibles		27.4			—				27.4			26.7			—				26.7
Other intangible assets		$	260.6		$	(100.8	)		$	159.8		$	244.0		$	(83.7	)		$	160.3

The fair value of intangible assets acquired in connection with the purchase of Axtone, based on a preliminary valuation, include $7.4 of customer relationships and $2.3 of trademarks. These intangible assets will be amortized straight-line over their estimated useful lives of 12 years and 10 years, respectively. Refer to Note 18, Acquisitions, for additional information.

Amortization expense related to finite-lived intangible assets was $5.2 and $5.5 and $14.4 and $15.6 for the three and nine months ended September 30, 2017 and 2016, respectively.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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