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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Goodwill
The following table provides a rollforward of the carrying amount of goodwill for the three months ended March 31, 2020 by segment. 
 
Motion
Technologies
 
Industrial
Process
 
Connect & Control
Technologies
 
Total
Goodwill - December 31, 2019
 
$
293.6

 
 
 
$
354.1

 
 
 
$
279.5

 
 
$
927.2

Adjustments to purchase price allocations
 
—

 
 
 
(2.5
)
 
 
 
—

 
 
(2.5
)
Foreign exchange translation
 
(3.2
)
 
 
 
(6.4
)
 
 
 
(0.7
)
 
 
(10.3
)
Goodwill - March 31, 2020
 
$
290.4

 
 
 
$
345.2

 
 
 
$
278.8

 
 
$
914.4


Adjustments to purchase price allocations is related to our 2019 acquisition of Rheinhütte Pumpen Group (Rheinhütte). Refer to Note 20, Acquisitions, for additional information.
Other Intangible Assets, Net 
Information regarding our other intangible assets is as follows:
 
March 31, 2020
 
December 31, 2019
 
Gross
Carrying
Amount
 
Accumulated Amortization
 
Net Intangibles
 
Gross
Carrying
Amount
 
Accumulated Amortization
 
Net Intangibles
Customer relationships
 
$
161.6

 
 
 
$
(91.8
)
 
 
 
$
69.8

 
 
 
$
176.3

 
 
 
$
(99.6
)
 
 
 
$
76.7

 
Proprietary technology
 
45.8

 
 
 
(20.4
)
 
 
 
25.4

 
 
 
58.4

 
 
 
(28.1
)
 
 
 
30.3

 
Patents and other
 
10.6

 
 
 
(8.0
)
 
 
 
2.6

 
 
 
21.8

 
 
 
(13.0
)
 
 
 
8.8

 
Finite-lived intangible total
 
218.0

 
 
 
(120.2
)
 
 
 
97.8

 
 
 
256.5

 
 
 
(140.7
)
 
 
 
115.8

 
Indefinite-lived intangibles
 
21.9

 
 
 
—

 
 
 
21.9

 
 
 
22.2

 
 
 
—

 
 
 
22.2

 
Other intangible assets
 
$
239.9

 
 
 
$
(120.2
)
 
 
 
$
119.7

 
 
 
$
278.7

 
 
 
$
(140.7
)
 
 
 
$
138.0

 

The challenging economic conditions caused by the global COVID-19 pandemic combined with a decline in the upstream oil and gas market are expected to result in a significant decline in revenue and negatively impact the profitability of a business within the IP segment. As a result, during the first quarter of 2020, we determined that certain intangible assets including an indefinite-lived trademark, customer relationships and proprietary technology would not be recoverable, resulting in an impairment of $12.3. Significant additional adverse changes to the economic environment and future cash flows of other businesses could cause us to record additional impairment charges in future periods, which may be material. In addition, we reclassified a trademark intangible asset with a net book value of $5, previously included within patents and other, to indefinite-lived intangibles as we have recently suspended our company re-branding project for the foreseeable future.
Amortization expense related to finite-lived intangible assets was $4.8 and $4.0 for the three months ended March 31, 2020 and 2019, respectively. Estimated amortization expense for each of the five succeeding years is as follows:
2020
$
12.8

2021
16.3

2022
16.2

2023
14.4

2024
9.0

Thereafter
29.1