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Goodwill and Other Intangible Assets
12 Months Ended
Jul. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
The Company has allocated goodwill to reporting units within its Engine Products and Industrial Products segments. On October 18, 2018, the Company acquired BOFA and recorded goodwill for this transaction. See Note 2 for additional discussion of the acquisition. There was no disposition activity or impairment charges recorded during the years ended July 31, 2019 and 2018.
The following is a reconciliation of goodwill for the years ended July 31, 2019 and 2018 (in millions):
 
Engine Products
 
Industrial Products
 
Total
July 31, 2017
$
84.3

 
$
153.8

 
$
238.1

Goodwill acquired
0.6

 

 
0.6

Currency translation

 
(0.3
)
 
(0.3
)
July 31, 2018
84.9

 
153.5

 
238.4

Goodwill acquired

 
72.9

 
72.9

Currency translation
(0.4
)
 
(7.8
)
 
(8.2
)
July 31, 2019
$
84.5

 
$
218.6

 
$
303.1


The following table summarizes the net intangible assets for the years ended July 31, 2019 and 2018 (in millions):
 
 
 
 
July 31, 2019
 
July 31, 2018
 
 
Weighted Average Useful Life
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
 
10.0
 
$
101.5

 
$
(43.3
)
 
$
63.0

 
$
(35.7
)
Patents, trademarks and technology
 
6.2
 
22.3

 
(9.6
)
 
43.7

 
(35.4
)
Total other intangible assets, net
 


$
123.8


$
(52.9
)
 
$
106.7

 
$
(71.1
)
Expected amortization expense relating to existing intangible assets is as follows (in millions):
Year Ending July 31,
 
Amount
2020
 
$
8.0

2021
 
7.8

2022
 
7.0

2023
 
5.9

2024
 
5.5

Thereafter
 
36.7

Total expected amortization expense
 
$
70.9