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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 30, 2024
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, 2023
$292.3 $403.0 $321.0 $1,016.3 
Acquired(a)
— 201.9 — 201.9 
Foreign exchange translation(1.4)(8.5)(0.6)(10.5)
Goodwill - March 30, 2024
$290.9 $596.4 $320.4 $1,207.7 
(a)    Goodwill acquired is related to our acquisition of Svanehøj and represents the preliminary calculation of the excess purchase price over the net assets acquired. Refer to Note 18, Acquisitions, for further information.
Other Intangible Assets, Net 
The following table summarizes our other intangible assets, net of accumulated amortization. 
March 30, 2024December 31, 2023
Gross
Carrying
Amount		Accumulated AmortizationNet IntangiblesGross
Carrying
Amount		Accumulated AmortizationNet Intangibles
Customer relationships$320.5 $(141.5)$179.0 $202.4 $(138.4)$64.0 
Proprietary technology121.2 (34.3)86.9 61.5 (32.5)29.0 
Patents and other40.0 (21.6)18.4 22.0 (17.5)4.5 
Finite-lived intangible total481.7 (197.4)284.3 285.9 (188.4)97.5 
Indefinite-lived intangibles47.9 — 47.9 19.1 — 19.1 
Other intangible assets$529.6 $(197.4)$332.2 $305.0 $(188.4)$116.6 
The preliminary fair values of intangible assets acquired in connection with the purchase of Svanehøj total $226.0 and consist of the following:
Useful life
(in years)
Fair value
Customer relationships16$119.0 
Developed technology1760.0 
Trade name
Indefinite
29.0 
Backlog118.0 
Total intangible assets acquired$226.0 
Refer to Note 18, Acquisitions, for further information.
Amortization expense related to finite-lived intangible assets was $9.6 and $4.7 for the three months ended March 30, 2024 and April 1, 2023, respectively. Estimated amortization expense for each of the five succeeding years and thereafter is as follows:
2024$32.3 
2025$28.0 
2026$23.3 
2027$21.2 
2028$21.2 
Thereafter$158.3