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Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2025
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 segments were as follows:
 Engineered ProductsClean Energy & FuelingImaging & IdentificationPumps & Process SolutionsClimate & Sustainability TechnologiesTotal
Balance at January 1, 2025$415,264 $1,695,397 $1,072,031 $1,212,042 $510,968 $4,905,702 
Acquisitions— — — 9,697 — 9,697 
Measurement period adjustments— 3,567 — — — 3,567 
Foreign currency translation4,362 14,836 14,424 7,192 632 41,446 
Balance at March 31, 2025$419,626 $1,713,800 $1,086,455 $1,228,931 $511,600 $4,960,412 
During the three months ended March 31, 2025, the Company recognized additions of $9,697 to goodwill as a result of the acquisition discussed in Note 3 — Acquisitions. Additionally, during the three months ended March 31, 2025, the Company recognized measurement period adjustments of $3,567 relating to third quarter 2024 acquisitions under the Clean Energy & Fueling segment.

The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:
March 31, 2025December 31, 2024
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying Amount
Gross Carrying
Amount
Accumulated
Amortization
Net Carrying Amount
Amortized intangible assets:
Customer intangibles$2,379,923 $1,220,160 $1,159,763 $2,343,823 $1,174,195 $1,169,628 
Trademarks286,639 162,588 124,051 283,216 156,745 126,471 
Patents203,482 149,593 53,889 201,828 146,271 55,557 
Unpatented technologies283,426 177,143 106,283 277,945 169,310 108,635 
Distributor relationships81,744 69,041 12,703 79,855 66,469 13,386 
Other22,842 12,342 10,500 22,100 11,400 10,700 
Total3,258,056 1,790,867 1,467,189 3,208,767 1,724,390 1,484,377 
Unamortized intangible assets:
Trademarks96,543 — 96,543 96,477 — 96,477 
Total intangible assets, net$3,354,599 $1,790,867 $1,563,732 $3,305,244 $1,724,390 $1,580,854 

For the three months ended March 31, 2025 and 2024, amortization expense was $48,749 and $43,945, respectively. Amortization expense is primarily comprised of acquisition-related intangible amortization.
During the three months ended March 31, 2025, the Company acquired $21,011 of intangible assets, primarily customer intangibles, through an acquisition within the Pumps & Process Solutions segment. See Note 3 — Acquisitions for further details.