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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 6 Months Ended
Jul. 02, 2022
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 by segment. 
Motion
Technologies		Industrial
Process		Connect & Control
Technologies		Total
Goodwill - December 31, 2021
$292.3 $352.4 $279.6 $924.3 
Acquired— 68.7 — 68.7 
Foreign exchange translation(6.5)(20.7)(2.0)(29.2)
Goodwill - July 2, 2022
$285.8 $400.4 $277.6 $963.8 
Goodwill acquired is related to our acquisition of Habonim in the second quarter of 2022 and represents the preliminary calculation of the excess purchase price over the net assets acquired, the valuation of which is pending completion. Upon completion, goodwill acquired will be adjusted to reflect the final fair value of the net assets acquired. Refer to Note 19, Acquisitions and Investments, for further information.
Other Intangible Assets, Net 
The following table summarizes our other intangible assets, net of accumulated amortization. 
July 2, 2022December 31, 2021
Gross
Carrying
Amount		Accumulated AmortizationNet IntangiblesGross
Carrying
Amount		Accumulated AmortizationNet Intangibles
Customer relationships$190.6 $(120.0)$70.6 $162.1 $(113.7)$48.4 
Proprietary technology58.9 (28.5)30.4 46.1 (26.9)19.2 
Patents and other17.3 (14.8)2.5 15.7 (14.0)1.7 
Finite-lived intangible total266.8 (163.3)103.5 223.9 (154.6)69.3 
Indefinite-lived intangibles18.2 — 18.2 16.4 — 16.4 
Other intangible assets$285.0 $(163.3)$121.7 $240.3 $(154.6)$85.7 
Amortization expense related to finite-lived intangible assets was $5.8 and $10.0, and $4.9 and $10.0 for the three and six months ended July 2, 2022 and July 3, 2021, respectively.
The preliminary fair value of intangible assets acquired in connection with the purchase of Habonim mainly includes $33.1 of customer relationships with a useful life of 15 years, $8.1 of developed technology with a useful life of 20 years, $2.1 of customer backlog with a useful life of 9 months, and $2.3 for a trade name with an indefinite life. Refer to Note 19, Acquisitions and Investments, for further information.
Separately, during the second quarter of 2022, we acquired proprietary technology with a preliminary value of $6.2 and a useful life of 10 years, in connection with the purchase of a product line within our CCT segment. Refer to Note 19, Acquisitions and Investments, for further information.
Estimated amortization expense for each of the five succeeding years and thereafter is as follows:
Remaining of 202210.9 
202319.5 
202414.1 
202513.3 
20269.5 
20278.2 
Thereafter28.0