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SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2023
SIGNIFICANT ACCOUNTING POLICIES |
Summarized activity in the allowance for doubtful accounts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(millions) | ​ | 2023 |  | 2022 |  | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | ​ | $71.9 | ​ | ​ | ​ | $52.8 | ​ | ​ | ​ | $68.4
Bad debt expense | ​ |  | 54.0 | ​ | ​ |  | 38.1 | ​ | ​ |  | 15.0
Write-offs | ​ |  | (46.2) | ​ | ​ |  | (21.1) | ​ | ​ |  | (27.4)
Other (a) | ​ |  | (2.4) | ​ | ​ |  | 2.1 | ​ | ​ |  | (3.2)
Ending balance | ​ | ​ | $77.3 | ​ | ​ | ​ | $71.9 | ​ | ​ | ​ | $52.8
​
(a) | Other amounts are primarily the effects of changes in currency translations and acquired balances.
​
Changes in the carrying amount of goodwill | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Global | ​ | Global | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Global | ​ | Institutional | ​ | Healthcare & | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(millions) |  | Industrial |  | & Specialty |  | Life Sciences | ​ | Other |  | Total | ​ |
December 31, 2021 | ​ | ​ | $4,270.1 | ​ | ​ | $576.5 | ​ | ​ | $2,974.2 | ​ | ​ | $243.1 | ​ | ​ | $8,063.9 | ​ | ​
Prior year business combinations (a) | ​ | ​ | 0.4 | ​ | ​ | - | ​ | ​ | 253.4 | ​ | ​ | - | ​ | ​ | 253.8 | ​ | ​
Effect of foreign currency translation | ​ |  | (188.7) | ​ | ​ | (8.9) | ​ | ​ | (102.2) | ​ | ​ | (5.2) | ​ | ​ | (305.0) | ​ | ​
December 31, 2022 | ​ | ​ | $4,081.8 | ​ | ​ | $567.6 | ​ | ​ | $3,125.4 | ​ | ​ | $237.9 | ​ | ​ | $8,012.7 | ​ | ​
Current year business combinations (b) | ​ | ​ | 30.8 | ​ | ​ | 39.3 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 70.1 | ​ | ​
Effect of foreign currency translation | ​ | ​ | 28.0 | ​ | ​ | 3.1 | ​ | ​ | 33.0 | ​ | ​ | 1.3 | ​ | ​ | 65.4 | ​ | ​
December 31, 2023 | ​ | ​ | $4,140.6 | ​ | ​ | $610.0 | ​ | ​ | $3,158.4 | ​ | ​ | $239.2 | ​ | ​ | $8,148.2 | ​ | ​
​
(a) | Represents purchase price allocation adjustments for acquisitions deemed preliminary as of the end of the prior year.
(b) | Represents goodwill associated with current year acquisitions. For 2023, approximately $62 of goodwill related to businesses acquired is expected to be tax deductible related primarily to the acquisitions of Chemlink Laboratories LLC and Flottec, LLC (refer to Footnote 4 for additional information).
​
Weighted-average useful life by type of asset | ​ The weighted-average useful life by type of amortizable asset at December 31, 2023 were as follows: ​ (years)
​ | ​ | ​
Customer relationships |  | 15
Patents |  | 15
Trademarks |  | 13
Other technology |  | 12
Future estimated amortization expenses | ​
​ | ​ | ​ | ​
(millions) | ​ | ​ | ​
2021 | ​ | $239 | ​
2022 |  | 320 | ​
2023 |  | 307 |
2024 |  | 301 | ​
2025 |  | 294 | ​
2026 |  | 281 | ​
2027 |  | 155 | ​
2028 |  | 145 | ​
Computations of the basic and diluted EPS | ​ The computations of the basic and diluted earnings attributable to Ecolab per share amounts were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(millions, except per share) | ​ | 2023 | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income attributable to Ecolab | ​ | ​ | $1,372.3 | ​ | ​ | ​ | $1,091.7 | ​ | ​ | ​ | $1,129.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average common shares outstanding | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic |  |  | 285.0 | ​ | ​ |  | 285.2 | ​ | ​ |  | 286.3
Effect of dilutive stock options and units |  |  | 1.6 | ​ | ​ |  | 1.4 | ​ | ​ | ​ | 2.8
Diluted |  |  | 286.5 | ​ | ​ |  | 286.6 | ​ | ​ |  | 289.1
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings attributable to Ecolab per common share | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic EPS | ​ | ​ | $4.82 | ​ | ​ | ​ | $3.83 | ​ | ​ | ​ | $3.95
Diluted EPS | ​ | ​ | $4.79 | ​ | ​ | ​ | $3.81 | ​ | ​ | ​ | $3.91
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Anti-dilutive securities excluded from the computation of diluted EPS |  |  | 4.3 | ​ | ​ |  | 3.9 | ​ | ​ |  | 1.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amounts do not necessarily sum due to rounding. | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other significant accounting policies | ​
​ | ​ | ​
Policy | ​ | Note
Fair value measurements |  | 7
Derivatives and hedging transactions |  | 8
Share-based compensation |  | 10
Research and development expenditures | ​ | 14
Legal contingencies |  | 15
Pension and post-retirement benefit plans | ​ | 16
Reportable segments | ​ | 18
​
Schedule of new accounting pronouncements | New Accounting Pronouncements ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Standards That Are Not Yet Adopted:
​ |  | ​ |  | ​ |  | Required |  | ​ |
​ | ​ | Date of | ​ | ​ | ​ | Date of | ​ | Effect on the | ​
Standard |  | Issuance | ​ | Description |  | Adoption |  | Financial Statements | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
ASU 2023-09 Income taxes (Topic 740): Improvements to Income Tax Disclosures | ​ | December 2023 | ​ | The amendments in this Update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. | ​ | January 1, 2025 | ​ | The Company is currently evaluating the impact of adoption and additional disclosure requirements. | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
ASU 2023-07 - Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures | ​ | November 2023 | ​ | The amendments in this ASU are to improve the disclosures about reportable segments and add more detailed information about a reportable segment’s expenses. The amendments in the ASU require public entities to disclose on an annual and interim basis significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, other segment items by reportable segment, the title and position of the CODM, and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. The ASU does not change the definition of a segment, the method for determining segments, the criteria for aggregating operating segments into reportable segments, or the current specifically enumerated segment expenses that are required to be disclosed. | ​ | Effective for annual periods beginning after December 15, 2023 | ​ | Entities are required to apply the disclosure amendments on a retrospective basis to all periods presented. The Company is currently evaluating the impact of adoption. | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Standards That Were Adopted:
​ |  | Date of |  | ​ |  | Date of |  | Effect on the
Standard |  | Issuance | ​ | Description |  | Adoption |  | Financial Statements
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
ASU 2021-08 - Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers | ​ | October 2021 | ​ | Update to improve the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to the recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. | ​ | January 1, 2023 | ​ | The adoption of this standard did not have a significant impact on the Company's financial statements.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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