GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes to Goodwill

The following table presents changes to goodwill during the six months ended June 30, 2022 (in millions):

	Total		Commercial Systems		Industrial Systems		Climate Solutions		Motion Control Solutions
Balance as of January 1, 2022	$	4,039.2	$	428.9	$	128.8	$	330.5	$	3,151.0
Acquisition and Valuation Adjustments	26.4		—		—		—		26.4
Translation Adjustments	(39.6)		(5.0)		(1.6)		(0.5)		(32.5)
Balance as of June 30, 2022	$	4,026.0	$	423.9	$	127.2	$	330.0	$	3,144.9
Cumulative Goodwill Impairment Charges	$	328.7	$	183.2	$	105.1	$	17.2	$	23.2

Schedule of Finite-Lived Intangible Assets

The following table presents intangible assets (in millions):

		June 30, 2022				January 1, 2022
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	16	$	2,326.1	$	465.8	$	2,335.4	$	405.0
Technology	13	246.9		119.0		250.1		114.1
Trademarks	10	393.4		55.0		400.0		37.2
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
		$	2,983.0	$	656.4	$	3,002.1	$	572.9
Intangible Assets, Net of Amortization		$	2,326.6			$	2,429.2

Schedule of Indefinite-Lived Intangible Assets

The following table presents intangible assets (in millions):

		June 30, 2022				January 1, 2022
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	16	$	2,326.1	$	465.8	$	2,335.4	$	405.0
Technology	13	246.9		119.0		250.1		114.1
Trademarks	10	393.4		55.0		400.0		37.2
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
		$	2,983.0	$	656.4	$	3,002.1	$	572.9
Intangible Assets, Net of Amortization		$	2,326.6			$	2,429.2

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents future estimated annual amortization for intangible assets (in millions):

Year	Estimated Amortization
2023	$	186.4
2024	185.8
2025	183.7
2026	180.3
2027	145.7