Goodwill and Other Intangible Assets, net

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, net

Changes in the carrying values of goodwill for the three months ended March 31, 2026, by segment, were as follows (in millions):


	Segment
	Utility Solutions		Electrical Solutions		Total
BALANCE AT DECEMBER 31, 2025	$	2,384.0	$	676.8	$	3,060.8
Prior year acquisitions(1)	(1.1)		—		(1.1)

Foreign currency translation	0.7		(0.8)		(0.1)
BALANCE AT MARCH 31, 2026	$	2,383.6	$	676.0	$	3,059.6

(1) Refer to Note 2 - Business Acquisitions for additional information.

The carrying value of other intangible assets included in Other intangible assets, net in the Condensed Consolidated Balance Sheets is as follows (in millions):


	March 31, 2026				December 31, 2025
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Definite-lived:
Patents, tradenames and trademarks	$	250.0	$	(107.6)	$	250.0	$	(104.7)
Customer relationships	1,633.3		(536.6)		1,633.6		(517.6)
Developed technology and other	278.0		(184.7)		278.6		(179.4)
TOTAL DEFINITE-LIVED INTANGIBLES	$	2,161.3	$	(828.9)	$	2,162.2	$	(801.7)
Indefinite-lived:
Tradenames and other	33.8		—		33.8		—
TOTAL OTHER INTANGIBLE ASSETS	$	2,195.1	$	(828.9)	$	2,196.0	$	(801.7)

Amortization expense associated with definite-lived intangible assets was $27.9 million and $24.5 million during the three months ended March 31, 2026 and 2025, respectively. Future amortization expense associated with these intangible assets is estimated to be $83.7 million for the remainder of 2026, $114.1 million in 2027, $109.5 million in 2028, $104.8 million in 2029, $97.7 million in 2030, and $91.5 million in 2031. 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 lives, or using a straight line method. Approximately 90% of the gross value of definite-lived intangible assets follows an accelerated amortization method.