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Goodwill and Other Intangible Assets, Net (Notes)
 12 Months Ended
Dec. 31, 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 our goodwill by segment.
Motion
Technologies		Industrial
Process		Connect & Control
Technologies		Total
Goodwill as of December 31, 2020$298.1 $365.4 $281.3 $944.8 
Foreign currency(5.8)(13.0)(1.7)(20.5)
Goodwill as of December 31, 2021$292.3 $352.4 $279.6 $924.3 
Goodwill acquired— 62.9 0.3 63.2 
Foreign currency(4.6)(16.6)(1.5)(22.7)
Goodwill as of December 31, 2022$287.7 $398.7 $278.4 $964.8 
Goodwill acquired is related to our acquisitions of Habonim and a product line from Clippard Instrument Laboratory, Inc. (Clippard) in 2022, and represents the preliminary calculation of the excess purchase price over the net assets acquired. The valuations of Habonim and Clippard are pending completion. Upon completion, goodwill acquired will be adjusted based on the final fair values of the net assets acquired. Refer to Note 23, Acquisitions and Investments, for further information.
Other Intangible Assets, Net
The following table summarizes our other intangible assets, net of accumulated amortization.
 20222021
As of December 31Gross
Carrying
Amount		Accumulated
Amortization		Net
Intangibles		Gross
Carrying
Amount		Accumulated
Amortization		Net
Intangibles
Customer relationships$191.5 $(127.1)$64.4 $162.1 $(113.7)$48.4 
Proprietary technology59.2 (30.8)28.4 46.1 (26.9)19.2 
Trademarks and other17.6 (16.6)1.0 15.7 (14.0)1.7 
Total finite-lived intangibles268.3 (174.5)93.8 223.9 (154.6)69.3 
Indefinite-lived intangibles19.0 — 19.0 16.4 — 16.4 
Other intangible assets$287.3 $(174.5)$112.8 $240.3 $(154.6)$85.7 
The preliminary fair values of intangible assets acquired in connection with the purchase of Habonim mainly include $33.0 of customer relationships with a useful life of 15 years, $8.8 of developed technology with a useful life of 20 years, $2.3 of customer backlog with a useful life of 9 months, and $3.1 for a trade name with an indefinite life. Refer to Note 23, Acquisitions and Investments, for further information.
In connection with the purchase of the Clippard product line in June 2022, we acquired proprietary technology and customer relationships with preliminary fair values of $5.5 and $0.5, respectively, both with a useful life of 10 years. Refer to Note 23, Acquisitions and Investments, for further information.
Customer relationships, proprietary technology and trademarks and other intangible assets are amortized over weighted average lives of approximately 13.0 years, 13.6 years and 5.9 years, respectively. Indefinite-lived intangibles primarily consist of brands and trademarks.
Amortization expense related to intangible assets for 2022, 2021 and 2020 was $20.8, $18.9, and $20.4, respectively. Estimated amortization expense for each of the five succeeding years and thereafter is as follows:
202319.6 
202414.1 
202513.3 
20269.5 
20278.1 
Thereafter29.2