Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Note 9 - Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the six months ended June 30, 2021 were as follows:


	Mobile Industries		Process Industries		Total
Beginning balance	$	384.6	$	663.0	$	1,047.6


Foreign currency translation adjustments and other changes	(5.9)		(6.9)		(12.8)
Ending balance	$	378.7	$	656.1	$	1,034.8

The following table displays intangible assets as of June 30, 2021 and December 31, 2020:


	Balance at June 30, 2021						Balance at December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Customer relationships	$	526.4	$	(176.7)	$	349.7	$	532.2	$	(161.9)	$	370.3
Technology and know-how	273.9		(79.7)		194.2		277.2		(72.0)		205.2
Trade names	14.3		(9.2)		5.1		14.2		(8.8)		5.4
Capitalized software	277.5		(258.2)		19.3		276.4		(254.6)		21.8
Other	4.7		(3.9)		0.8		4.7		(3.7)		1.0
	$	1,096.8	$	(527.7)	$	569.1	$	1,104.7	$	(501.0)	$	603.7
Intangible assets not subject to amortization:
Trade names	$	126.4			$	126.4	$	129.0			$	129.0
FAA air agency certificates	8.7				8.7		8.7				8.7
	$	135.1			$	135.1	$	137.7			$	137.7
Total intangible assets	$	1,231.9	$	(527.7)	$	704.2	$	1,242.4	$	(501.0)	$	741.4

Amortization expense for intangible assets was $28.2 million and $28.1 million for the six months ended June 30, 2021 and 2020, respectively. Amortization expense for intangible assets is projected to be $57.5 million in 2021; $49.4 million in 2022; $46.3 million in 2023; $44.3 million in 2024; and $43.2 million in 2025.