GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The carrying amounts of the Company’s intangible assets, excluding goodwill, are as follows:


(In millions)	June 30, 2025				December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizing intangibles:
Customer relationships	$	304.5	$	(139.9)	$	263.4	$	(128.8)
Patents	7.4		(7.4)		7.2		(7.2)
Technology	10.3		(7.6)		7.5		(7.5)
Trade names	56.9		(9.8)		44.5		(8.1)
Other	3.0		(2.6)		2.8		(2.4)
Total	$	382.1	$	(167.3)	$	325.4	$	(154.0)
Non-amortizing intangibles:
Trade names	42.6		—		41.6		—
Total intangibles	$	424.7	$	(167.3)	$	367.0	$	(154.0)

Amortization expense related to intangible assets for the second quarters ended June 30, 2025 and June 30, 2024 was $6.0 million and $4.7 million, respectively, and for six months ended June 30, 2025 and June 30, 2024 was $11.1 million and $9.5 million, respectively.

The change in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2025 is as follows:


(In millions)
	Water Systems		Energy Systems		Distribution		Consolidated
Balance as of December 31, 2024	$	217.6	$	70.3	$	50.6	$	338.5
Acquisitions	52.7		—		—		52.7
Adjustments to prior year acquisitions	0.1		—		—		0.1
Foreign currency translation	4.4		0.3		—		4.7
Balance as of June 30, 2025	$	274.8	$	70.6	$	50.6	$	396.0