Goodwill and Other Intangible Assets

The Company has allocated goodwill to reporting units within its Engine Products and Industrial Products segments. During the years ended July 31, 2018 and 2017, the Company acquired Hy-Pro on May 1, 2017 and Partmo on August 31, 2016 and recorded goodwill for these transactions. See Note 2 for additional discussion of acquisitions. There was no disposition activity or impairment recorded during the years ended July 31, 2018 and 2017.

The following is a reconciliation of goodwill for the years ended July 31, 2018 and 2017 (in millions):



	Engine Products		Industrial Products			Total Goodwill
Balance as of July 31, 2016	$	77.3	$	152.0		$	229.3
Goodwill acquired	6.7		—			6.7
Foreign exchange translation	0.3		1.8			2.1
Balance as of July 31, 2017	84.3		153.8			238.1
Goodwill acquired	0.6		—			0.6
Foreign exchange translation	—		(0.3		)	(0.3		)
Balance as of July 31, 2018	$	84.9	$	153.5		$	238.4

The following is a reconciliation of net intangible asset classes for the years ended July 31, 2018 and 2017 (in millions):



Customer relationships and lists	Gross Carrying Amount		Accumulated Amortization			Net Intangible Assets
Balance as of July 31, 2016	$	58.7	$	(28.0	)	$	30.7
Intangibles acquired	4.0		—			4.0
Amortization expense	—		(4.1		)	(4.1		)
Foreign exchange translation	0.2		—			0.2
Balance as of July 31, 2017	62.9		(32.1		)	30.8
Amortization expense	—		(3.9		)	(3.9		)
Foreign exchange translation	0.1		0.3			0.4
Balance as of July 31, 2018	$	63.0	$	(35.7	)	$	27.3



Patents, trademarks and technology	Gross Carrying Amount		Accumulated Amortization			Net Intangible Assets
Balance as of July 31, 2016	$	38.1	$	(30.3	)	$	7.8
Intangibles acquired	4.6		—			4.6
Amortization expense	—		(2.3		)	(2.3		)
Foreign exchange translation	1.0		(1.3		)	(0.3		)
Balance as of July 31, 2017	43.7		(33.9		)	9.8
Amortization expense	—		(1.7		)	(1.7		)
Foreign exchange translation	—		0.2			0.2
Balance as of July 31, 2018	$	43.7	$	(35.4	)	$	8.3

As of July 31, 2018, customer relationships and lists had a weighted average remaining life of 10.9 years, and patents, trademarks and technology had a weighted average remaining life of 7.1 years.

Expected amortization expense relating to existing intangible assets is as follows (in millions):



Year Ending July 31,	Amount
2019	$	5.2
2020	4.9
2021	4.7
2022	3.6
2023	2.7
Thereafter	14.5
Total expected amortization expense	$	35.6