GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill

As required, the Company performs an annual impairment test of goodwill as of the end of October, or more frequently if events or circumstances change that would more likely than not reduce the fair value of its reporting units below their carrying value.

The following table presents changes to goodwill during the three months ended March 31, 2025:

	Total		Automation & Motion Control		Industrial Powertrain Solutions		Power Efficiency Solutions
Balance as of December 31, 2024	$	6,458.9	$	2,012.5	$	3,697.2	$	749.2
Translation Adjustments	54.3		26.8		25.2		2.3
Balance as of March 31, 2025	$	6,513.2	$	2,039.3	$	3,722.4	$	751.5
Cumulative Goodwill Impairment Charges	$	223.6	$	5.1	$	18.1	$	200.4

Intangible Assets

Intangible assets consist of the following:

		March 31, 2025						December 31, 2024
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Net Carrying Amount		Gross Value		Accumulated Amortization		Net Carrying Amount
Customer Relationships	15	$	3,929.3	$	984.6	$	2,944.7	$	3,892.8	$	915.1	$	2,977.7
Technology	13	295.1		114.0		181.1		293.0		109.0		184.0
Trademarks	10	700.3		209.7		490.6		692.3		189.4		502.9
Total Intangibles		$	4,924.7	$	1,308.3	$	3,616.4	$	4,878.1	$	1,213.5	$	3,664.6

Amortization expense recorded for the three months ended March 31, 2025 and March 31, 2024 was $85.4 million and $86.7 million, respectively.