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Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
8. Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill by reportable operating segments were as follows:
 Engineered ProductsClean Energy & FuelingImaging & IdentificationPumps & Process SolutionsClimate & Sustainability TechnologiesTotal
Balance at January 1, 2024$415,258 $1,409,302 $1,092,960 $1,208,571 $511,473 $4,637,564 
Acquisitions7,622 309,917 — — — 317,539 
Measurement period adjustments— — — 227 371 598 
Foreign currency translation1,606 9,374 3,564 3,860 342 18,746 
Balance at September 30, 2024$424,486 $1,728,593 $1,096,524 $1,212,658 $512,186 $4,974,447 

During the nine months ended September 30, 2024, the Company recognized additions of $317,539 to goodwill as a result of the acquisitions discussed in Note 3 — Acquisitions, and disposed of $58,663 of goodwill that was previously classified as held for sale as of December 31, 2023. See Note 4 — Discontinued and Disposed Operations for further details.

The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:
September 30, 2024December 31, 2023
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying Amount
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying Amount
Amortized intangible assets:
Customer intangibles$2,378,879 $1,165,273 $1,213,606 $2,097,985 $1,064,609 $1,033,376 
Trademarks287,546 155,554 131,992 268,605 142,505 126,100 
Patents205,000 146,652 58,348 204,591 140,438 64,153 
Unpatented technologies274,712 167,721 106,991 244,042 151,944 92,098 
Distributor relationships83,450 67,976 15,474 82,031 63,343 18,688 
Other35,034 12,705 22,329 24,211 10,053 14,158 
Total3,264,621 1,715,881 1,548,740 2,921,465 1,572,892 1,348,573 
Unamortized intangible assets:
Trademarks96,639 — 96,639 96,631 — 96,631 
Total intangible assets, net$3,361,260 $1,715,881 $1,645,379 $3,018,096 $1,572,892 $1,445,204 

For the three months ended September 30, 2024 and 2023, amortization expense was $47,838 and $38,205, respectively. For the nine months ended September 30, 2024 and 2023, amortization expense was $135,969 and $113,899, respectively. Amortization expense is primarily comprised of acquisition-related intangible amortization.
During the nine months ended September 30, 2024, the Company acquired $320,458 of intangible assets through acquisitions. These assets were classified as customer intangibles, unpatented technologies and trademarks and included in the Clean Energy & Fueling, Engineered Products and Imaging & Identification segments. See Note 3 — Acquisitions for further details.