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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
 
 
 
Changes in the carrying amounts of goodwill for the years ended December 31, 2018 and 2017, by segment, were as follows (in millions):
 
Segment
 
 
Electrical

Power

Total

BALANCE AT DECEMBER 31, 2016
$
652.0

$
339.0

$
991.0

Current year acquisitions
58.7

29.8

88.5

Foreign currency translation and prior year acquisitions
6.9

2.6

9.5

BALANCE AT DECEMBER 31, 2017
$
717.6

$
371.4

$
1,089.0

Current year acquisitions

708.7

708.7

Foreign currency translation and prior year acquisitions
(3.5
)
(9.8
)
(13.3
)
BALANCE AT DECEMBER 31, 2018
$
714.1

$
1,070.3

$
1,784.4


 
In 2018, the Company completed one acquisition (Aclara) that was added to the Power segment. The acquisition has been accounted for as a business combination and has resulted in the recognition of $708.7 million of goodwill. See also Note 3 — Business Acquisitions.
 
The Company has not recorded any material goodwill impairments since the initial adoption of the accounting guidance in 2002.
 
Identifiable intangible assets are recorded in Intangible assets, net in the Consolidated Balance Sheet. Identifiable intangible assets are comprised of the following (in millions):
 
December 31, 2018
 
December 31, 2017
 
Gross Amount

Accumulated
Amortization

 
Gross Amount

Accumulated
Amortization

Definite-lived:
 

 

 
 

 

Patents, tradenames and trademarks
$
204.4

$
(58.6
)
 
$
151.4

$
(50.1
)
Customer/agent relationships and other
833.0

(212.6
)
 
462.0

(156.7
)
TOTAL DEFINITE-LIVED INTANGIBLES
1,037.4

(271.2
)
 
613.4

(206.8
)
Indefinite-lived:
 

 

 
 

 

Tradenames and other
53.3


 
53.8


TOTAL INTANGIBLE ASSETS
$
1,090.7

$
(271.2
)
 
$
667.2

$
(206.8
)

 
Amortization expense associated with these definite-lived intangible assets was $68.9 million, $34.9 million and $32.3 million in 2018, 2017 and 2016, respectively. Amortization expense associated with these intangible assets is expected to be $71.9 million in 2019, $71.2 million in 2020, $69.5 million in 2021, $64.2 million in 2022 and $59.6 million in 2023.