Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The carrying value of goodwill by segment was as follows:


	Application Software		Network Software & Systems		Measurement & Analytical Solutions		Process Technologies		Total
Balances at December 31, 2019	$	5,389.4	$	3,933.5	$	1,178.0	$	314.5	$	10,815.4
Additions	—		80.5		—		—		80.5

Other	0.5		(0.6)		—		—		(0.1)
Currency translation adjustments	(12.8)		(26.8)		(6.3)		(3.3)		(49.2)
Balances at June 30, 2020	$	5,377.1	$	3,986.6	$	1,171.7	$	311.2	$	10,846.6

Other relates primarily to purchase accounting adjustments for acquisitions.

Other intangible assets were comprised of:


	Cost		Accumulated amortization		Net book value
Assets subject to amortization:
Customer related intangibles	$	4,955.4	$	(1,349.4)	$	3,606.0
Unpatented technology	613.0		(279.6)		333.4
Software	172.2		(111.5)		60.7
Patents and other protective rights	12.0		(8.0)		4.0
Trade names	7.9		(4.1)		3.8
Assets not subject to amortization:
Trade names	659.8		—		659.8

Balances at December 31, 2019	$	6,420.3	$	(1,752.6)	$	4,667.7

Assets subject to amortization:
Customer related intangibles	$	4,995.5	$	(1,495.2)	$	3,500.3
Unpatented technology	616.1		(320.2)		295.9
Software	171.9		(119.5)		52.4
Patents and other protective rights	11.9		(8.1)		3.8
Trade names	7.9		(5.1)		2.8
Assets not subject to amortization:
Trade names	656.6		—		656.6

Balances at June 30, 2020	$	6,459.9	$	(1,948.1)	$	4,511.8

Amortization expense of other intangible assets was $200.8 and $168.9 during the six months ended June 30, 2020 and 2019, respectively.

An evaluation of the carrying value of goodwill and indefinite-lived intangibles is required to be performed on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value.

In the first quarter of 2020, changes in facts and circumstances and general market declines from the coronavirus global pandemic (COVID-19) resulted in reduced expectations of near term future operating results. The Company considered these circumstances and the potential long-term impact on revenues and cash flows associated with its trade names and reporting units and determined that an indicator of possible impairment did not exist. While we have concluded that a triggering event did not occur during the first or second quarter of 2020, a prolonged COVID-19 pandemic could further impact the expectations of future operating results and assumptions that are significant enough to require an interim impairment review. In particular, the trade name associated with our lab software business, which had a fair value approximating its carrying value of $100.4 as of its most recent quantitative analysis performed on October 1, 2019, could become subject to an interim review in future periods. The Company will perform the annual analysis during the fourth quarter of 2020.