Goodwill and Other Identifiable Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill by Segment

The changes in the carrying amount of goodwill by reportable segment were as follows:

In millions	December 31, 2022		Purchase Accounting Adjustments		Foreign Currency Translation		June 30, 2023
Industrial & Flow Technologies	$	747.6	$	—	$	10.9	$	758.5
Water Solutions	1,398.1		0.5		1.5		1,400.1
Pool	1,106.9		—		—		1,106.9
Total goodwill	$	3,252.6	$	0.5	$	12.4	$	3,265.5

Detail of Identifiable Intangible Assets

Identifiable intangible assets consisted of the following:

	June 30, 2023						December 31, 2022
In millions	Cost		Accumulated amortization		Net		Cost		Accumulated amortization		Net
Definite-life intangibles
Customer relationships	$	1,103.2	$	(335.2)	$	768.0	$	1,100.9	$	(308.9)	$	792.0
Proprietary technology and patents	89.4		(39.4)		50.0		89.3		(35.6)		53.7
Other	—		—		—		14.4		(14.4)		—
Total definite-life intangibles	1,192.6		(374.6)		818.0		1,204.6		(358.9)		845.7
Indefinite-life intangibles
Trade names	250.4		—		250.4		248.9		—		248.9
Total intangibles	$	1,443.0	$	(374.6)	$	1,068.4	$	1,453.5	$	(358.9)	$	1,094.6

Estimated Future Amortization Expense for Identifiable Intangible Assets

Estimated future amortization expense for identifiable intangible assets during the remainder of 2023 and the next five years is as follows:

	Q3-Q4
	2023		2024		2025		2026		2027		2028
Estimated amortization expense	$	27.3	$	54.1	$	54.1	$	52.8	$	51.5	$	49.0