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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023, by segment, were as follows (in millions):
 Segment 
 Utility SolutionsElectrical SolutionsTotal
BALANCE AT DECEMBER 31, 2022$1,275.9 $694.6 $1,970.5 
Prior year acquisitions1.2 2.1 3.3 
Current year acquisitions614.7 — 614.7 
Reclassifications to held for sale— (63.2)(63.2)
Foreign currency translation5.7 2.4 8.1 
BALANCE AT DECEMBER 31, 2023$1,897.5 $635.9 $2,533.4 
Prior year acquisitions(9.0)— (9.0)
Foreign currency translation(20.1)(3.5)(23.6)
BALANCE AT DECEMBER 31, 2024$1,868.4 $632.4 $2,500.8 
 
 
The Company has not recorded any goodwill impairments since the initial adoption of the related accounting guidance in 2002.
   
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, 2024December 31, 2023
 Gross AmountAccumulated
Amortization		Gross AmountAccumulated
Amortization
Definite-lived:    
Patents, tradenames and trademarks$232.4 $(95.2)$233.7 $(84.8)
Customer relationships, developed technology and other1,511.4 (602.0)1,513.1 (500.1)
TOTAL DEFINITE-LIVED INTANGIBLES1,743.8 (697.2)1,746.8 (584.9)
Indefinite-lived:    
Tradenames and other33.4 — 34.1 — 
TOTAL OTHER INTANGIBLE ASSETS$1,777.2 $(697.2)$1,780.9 $(584.9)
 
Amortization expense associated with these definite-lived intangible assets was $116.6 million, $73.5 million and $75.7 million in 2024, 2023 and 2022, respectively. Amortization expense associated with these intangible assets is expected to be $96.0 million in 2025, $89.9 million in 2026, $85.6 million in 2027, $82.4 million in 2028 and $78.2 million in 2029. The Company amortizes intangible assets with definite lives using either an accelerated method that reflects the pattern in which economic benefits of the intangible assets are consumed and results in higher amortization in the earlier years of the assets’ useful life, or using a straight line method. Approximately 85% of the gross value of definite-lived intangible assets follow an accelerated amortization method.