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Goodwill and Other Intangible Assets, Net
 12 Months Ended
Dec. 31, 2020
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, 2020 and 2019 by segment are as follows:
Motion
Technologies		Industrial
Process		Connect & Control
Technologies		Total
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 
Adjustments to purchase price allocations— (2.5)— (2.5)
Foreign currency4.5 13.8 1.8 20.1 
Goodwill - December 31, 2020$298.1 $365.4 $281.3 $944.8 
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. Adjustments to purchase price allocations during 2020 is related to the completion of the Rheinhütte valuation. See Note 22, Acquisitions, for further information.
Other Intangible Assets
Information regarding our other intangible assets is as follows:
 December 31, 2020December 31, 2019
Gross
Carrying
Amount		Accumulated
Amortization		Net
Intangibles		Gross
Carrying
Amount		Accumulated
Amortization		Net
Intangibles
Customer relationships$163.3 $(101.7)$61.6 $176.3 $(99.6)$76.7 
Proprietary technology46.7 (23.4)23.3 58.4 (28.1)30.3 
Patents and other16.2 (11.5)4.7 21.8 (13.0)8.8 
Finite-lived intangible total226.2 (136.6)89.6 256.5 (140.7)115.8 
Indefinite-lived intangibles16.8 — 16.8 22.2 — 22.2 
Other Intangible Assets$243.0 $(136.6)$106.4 $278.7 $(140.7)$138.0 
As a result of the global COVID-19 pandemic combined with a decline in the upstream oil and gas market, during 2020, we determined that certain intangible assets within the IP segment 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.
Customer relationships, proprietary technology and patents and other intangible assets are amortized over weighted average lives of approximately 12.6 years, 12.9 years and 6.0 years, respectively. Indefinite-lived intangibles primarily consist of brands and trademarks.
Amortization expense related to intangible assets for 2020, 2019 and 2018 was $20.4, $20.8 and $17.6, respectively. Estimated amortization expense for each of the five succeeding years is as follows:
202119.0 
202216.2 
202314.5 
20249.0 
20257.9 
Thereafter23.0