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Goodwill and Other Intangible Assets, Net
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets, Net
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Goodwill
Changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018 by segment are as follows:
 
Motion
Technologies
 
Industrial
Process
 
Connect & Control
Technologies
 
Total
Goodwill - December 31, 2017
$
295.6

 
$
324.5

 
$
266.7

 
$
886.8

Adjustments to purchase price allocations
3.3

 
—

 
—

 
3.3

Foreign currency
(4.4
)
 
(8.7
)
 
(1.1
)
 
(14.2
)
Goodwill - December 31, 2018
$
294.5

 
$
315.8

 
$
265.6

 
$
875.9

Goodwill acquired
—

 
40.1

 
14.3

 
54.4

Foreign currency
(0.9
)
 
(1.8
)
 
(0.4
)
 
(3.1
)
Goodwill - December 31, 2019
$
293.6

 
$
354.1

 
$
279.5

 
$
927.2


Goodwill acquired in 2019 is related to our acquisitions of Rheinhütte Pumpen Group (Rheinhütte) and Matrix Composites, Inc. (Matrix). Goodwill acquired represents the preliminary calculation of 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. Goodwill adjustments to purchase price allocations in 2018 are related to our acquisition of Axtone Railway Components (Axtone) in 2017. See Note 22, Acquisitions, for further information.
Other Intangible Assets
Information regarding our other intangible assets is as follows:
 
December 31, 2019
 
December 31, 2018
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Intangibles
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Intangibles
Customer relationships
$
176.3

 
$
(99.6
)
 
$
76.7

 
$
164.1

 
$
(86.2
)
 
$
77.9

Proprietary technology
58.4

 
(28.1
)
 
30.3

 
53.7

 
(25.6
)
 
28.1

Patents and other
21.8

 
(13.0
)
 
8.8

 
12.3

 
(9.4
)
 
2.9

Finite-lived intangible total
256.5

 
(140.7
)
 
115.8

 
230.1

 
(121.2
)
 
108.9

Indefinite-lived intangibles
22.2

 
—

 
22.2

 
27.2

 
—

 
27.2

Other Intangible Assets
$
278.7

 
$
(140.7
)
 
$
138.0

 
$
257.3

 
$
(121.2
)
 
$
136.1


Customer relationships, proprietary technology and patents and other intangible assets are amortized over weighted average lives of approximately 12.4 years, 12.6 years and 6.1 years, respectively. Indefinite-lived intangibles primarily consist of brands and trademarks.
The fair value of intangible assets acquired in connection with the purchase of Rheinhütte includes $7.4 of proprietary technology with a useful life of 7 years, $4.5 of customer relationships with a useful life of 9 years, and $3.3 for a trade name with an indefinite life. The fair value of intangible assets acquired in connection with the purchase of Matrix includes $8.5, primarily related to customer relationships with a useful life of 14.0 years.
Amortization expense related to intangible assets for 2019, 2018 and 2017 was $20.8, $17.6 and $18.9, respectively. Estimated amortization expense for each of the five succeeding years is as follows:
2020
$
24.5

2021
18.6

2022
18.4

2023
15.8

2024
9.3

Thereafter
29.2