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Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Note 9 - Goodwill and Other Intangible Assets
The changes in the carrying amount of goodwill for the six months ended June 30, 2022 were as follows:
Mobile
Industries		Process
Industries		Total
Beginning balance$371.7 $651.0 $1,022.7 
Acquisitions— 39.0 39.0 
Foreign currency translation adjustments and other changes(19.4)(27.2)(46.6)
Ending balance$352.3 $662.8 $1,015.1 
The acquisition of Spinea added $39.0 million of goodwill. The goodwill is expected to be 100% tax deductible.
The following table displays intangible assets as of June 30, 2022 and December 31, 2021:
 Balance at June 30, 2022Balance at December 31, 2021
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Intangible assets
subject to amortization:
Customer relationships$514.9 $(197.7)$317.2 $518.1 $(189.3)$328.8 
Technology and know-how265.9 (92.0)173.9 270.7 (86.6)184.1 
Trade names20.6 (8.6)12.0 14.3 (9.6)4.7 
Capitalized software283.7 (264.1)19.6 280.0 (261.3)18.7 
Other3.2 (2.5)0.7 4.7 (3.6)1.1 
$1,088.3 $(564.9)$523.4 $1,087.8 $(550.4)$537.4 
Intangible assets not subject to amortization:
Trade names$116.0 $116.0 $122.7 $122.7 
FAA air agency certificates8.7 8.7 8.7 8.7 
$124.7 $124.7 $131.4 $131.4 
Total intangible assets$1,213.0 $(564.9)$648.1 $1,219.2 $(550.4)$668.8 
Amortization expense for intangible assets was $25.3 million and $28.2 million for the six months ended June 30, 2022 and 2021, respectively. Amortization expense included $21.5 million and $24.3 million related to intangible assets acquired as part of a business combination for the six months ended June 30, 2022 and 2021, respectively. Amortization expense for intangible assets is projected to be $55.3 million in 2022; $46.6 million in 2023; $44.7 million in 2024; $42.9 million in 2025; and $41.4 million in 2026. Substantially all amortization expense for intangible assets is recorded in Cost of product sold on the Consolidated Statement of Income.