GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2024

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, 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	9.3		7.9		0.9		0.5
Balance as of September 30, 2024	$	6,557.3	$	3,749.1	$	754.8	$	2,053.4
Cumulative Goodwill Impairment Charges(1)	$	223.6	$	18.1	$	200.4	$	5.1

(1) Excludes impairment charges related to Industrial Systems, since it was sold in April 2024. See Note 3 – Held for Sale, Acquisitions and Divestitures for more information.

Schedule of Finite-Lived Intangible Assets

Intangible assets consist of the following:

		September 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	$	3,963.4	$	867.6	$	3,095.8	$	4,028.5	$	746.2	$	3,282.3
Technology	13	297.7		104.9		192.8		302.6		92.9		209.7
Trademarks	10	710.9		175.0		535.9		712.1		120.7		591.4
Total Intangibles		$	4,972.0	$	1,147.5	$	3,824.5	$	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	$	348.1
2026	344.7
2027	344.6
2028	344.6
2029	342.6