GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes to Goodwill

The following table presents changes to goodwill during the nine months ended September 30, 2023:

	Total		Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control		Industrial Systems
Balance as of December 31, 2022	$	4,018.8	$	2,290.0	$	752.3	$	865.0	$	111.5
Impairment	(57.3)		—		—		—		(57.3)
Acquisitions	2,601.2		1,429.7		—		1,171.5		—
Reclassification to Noncurrent Assets Held for Sale	(53.9)		—		—		—		(53.9)
Translation Adjustments	(35.8)		(16.6)		(1.9)		(17.0)		(0.3)
Balance as of September 30, 2023	$	6,473.0	$	3,703.1	$	750.4	$	2,019.5	$	—
Cumulative Goodwill Impairment Charges	$	386.0	$	18.1	$	200.4	$	5.1	$	162.4

Schedule of Finite-Lived Intangible Assets

The following table presents intangible assets including those acquired in the Altra Transaction (see Note 3 - Held for Sale, Acquisitions and Divestitures for more information):

		September 30, 2023						December 31, 2022
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Net Carrying Amount		Gross Value		Accumulated Amortization		Net Carrying Amount
Customer Relationships	15	$	3,981.9	$	670.0	$	3,311.9	$	2,321.4	$	532.0	$	1,789.4
Technology	13	299.1		86.8		212.3		246.2		125.0		121.2
Trademarks	10	702.7		109.6		593.1		392.7		73.4		319.3
Total Intangibles		$	4,983.7	$	866.4	$	4,117.3	$	2,960.3	$	730.4	$	2,229.9

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents future estimated annual amortization expense for intangible assets:

Year	Estimated Amortization
2024	$	349.2
2025	347.2
2026	343.7
2027	343.7
2028	343.7