Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amounts of goodwill for the years ended December 31, 2023 and 2022, by segment, were as follows (in millions):

	Segment
	Utility Solutions		Electrical Solutions		Total
BALANCE AT DECEMBER 31, 2021	$	1,258.8	$	612.5	$	1,871.3
Current year acquisitions(1)	23.8		87.6		111.4
Foreign currency translation	(6.7)		(5.5)		(12.2)
BALANCE AT DECEMBER 31, 2022	$	1,275.9	$	694.6	$	1,970.5
Prior year acquisitions(1)	1.2		2.1		3.3
Current year acquisitions(1)	614.7		—		614.7
Reclassifications to held for sale(1)	—		(63.2)		(63.2)
Foreign currency translation	5.7		2.4		8.1
BALANCE AT DECEMBER 31, 2023	$	1,897.5	$	635.9	$	2,533.4

 (1) Refer to Note 4 – Business Acquisitions and Dispositions for additional information.

Schedule of Identifiable Intangible Assets

Identifiable intangible assets are recorded in Other intangible assets, net in the Consolidated Balance Sheet. Identifiable intangible assets are comprised of the following (in millions):

 

	December 31, 2023				December 31, 2022
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Definite-lived:
Patents, tradenames and trademarks	$	233.7	$	(84.8)	$	187.9	$	(75.7)
Customer relationships, developed technology and other	1,513.1		(500.1)		955.3		(437.8)
TOTAL DEFINITE-LIVED INTANGIBLES	1,746.8		(584.9)		1,143.2		(513.5)
Indefinite-lived:
Tradenames and other	34.1		—		40.2		—
TOTAL OTHER INTANGIBLE ASSETS	$	1,780.9	$	(584.9)	$	1,183.4	$	(513.5)