GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2024

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, 2024:

	Total		Industrial Powertrain Solutions		Power Efficiency Solutions		Automation & Motion Control
Balance as of December 31, 2023	$	6,553.1	$	3,747.0	$	753.9	$	2,052.2
Acquisitions	(5.1)		(5.8)		—		0.7
Translation Adjustments	(51.2)		(25.8)		(2.8)		(22.6)
Balance as of June 30, 2024	$	6,496.8	$	3,715.4	$	751.1	$	2,030.3
Cumulative Goodwill Impairment Charges(1)	$	223.6	$	18.1	$	200.4	$	5.1

(1) Excludes impairment charges related to Industrial Systems.

Schedule of Finite-Lived Intangible Assets

Intangible assets consist of the following:

		June 30, 2024						December 31, 2023
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Net Carrying Amount		Gross Value		Accumulated Amortization		Net Carrying Amount
Customer Relationships	15	$	3,991.3	$	858.6	$	3,132.7	$	4,028.5	$	746.2	$	3,282.3
Technology	13	299.6		108.8		190.8		302.6		92.9		209.7
Trademarks	10	702.0		156.1		545.9		712.1		120.7		591.4
Total Intangibles		$	4,992.9	$	1,123.5	$	3,869.4	$	5,043.2	$	959.8	$	4,083.4

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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

Year	Estimated Amortization
2025	$	346.3
2026	342.9
2027	342.9
2028	342.9
2029	340.9