Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

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, 2021	$	8,889.3	$	3,797.0	$	1,160.6	$	247.6	$	14,094.5
Additions	25.6		—		—		—		25.6
Other	—		(0.5)		—		—		(0.5)
Currency translation adjustments	(6.6)		(12.1)		(5.0)		(1.0)		(24.7)
Balances at March 31, 2022	$	8,908.3	$	3,784.4	$	1,155.6	$	246.6	$	14,094.9

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	$	7,532.0	$	(2,108.0)	$	5,424.0
Unpatented technology	906.4		(431.8)		474.6
Software	149.5		(122.4)		27.1
Patents and other protective rights	9.6		(2.1)		7.5
Trade names	12.8		(6.1)		6.7
Assets not subject to amortization:
Trade names	648.6		—		648.6
Balances at December 31, 2021	$	9,258.9	$	(2,670.4)	$	6,588.5
Assets subject to amortization:
Customer related intangibles	$	7,527.0	$	(2,205.3)	$	5,321.7
Unpatented technology	893.6		(445.6)		448.0
Software	149.4		(125.2)		24.2
Patents and other protective rights	9.6		(2.1)		7.5
Trade names	16.3		(7.0)		9.3
Assets not subject to amortization:
Trade names	643.4		—		643.4
Balances at March 31, 2022	$	9,239.3	$	(2,785.2)	$	6,454.1

Amortization expense of other intangible assets was $145.8 and $145.1 during the three months ended March 31, 2022 and 2021, 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. There have been no events or changes in circumstances which indicate an interim impairment review is required in 2022. The Company will perform the annual analysis during the fourth quarter of 2022.