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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in the Carrying Value of Goodwill | The changes in the carrying value of goodwill by reportable operating segments were as follows:
| Engineered Products |  | Clean Energy & Fueling |  | Imaging & Identification |  | Pumps & Process Solutions |  | Climate & Sustainability Technologies |  | Total
Goodwill | $ | 733,874 |  |  | $ | 1,427,691 |  |  | $ | 1,106,202 |  |  | $ | 852,809 |  |  | $ | 508,807 |  |  | $ | 4,629,383 |
Accumulated impairment loss (1) | (10,591) |  |  | — |  |  | — |  |  | (59,970) |  |  | — |  |  | (70,561) |
Balance at January 1, 2022 | 723,283 |  |  | 1,427,691 |  |  | 1,106,202 |  |  | 792,839 |  |  | 508,807 |  |  | 4,558,822 |
Acquisitions | — |  |  | — |  |  | — |  |  | 200,513 |  |  | — |  |  | 200,513 |
Measurement period adjustments | (286) |  |  | 2,432 |  |  | (1,544) |  |  | 968 |  |  | — |  |  | 1,570 |
Foreign currency translation | (10,455) |  |  | (38,705) |  |  | (26,399) |  |  | (14,785) |  |  | (1,067) |  |  | (91,411) |
Balance at December 31, 2022 | 712,542 |  |  | 1,391,418 |  |  | 1,078,259 |  |  | 979,535 |  |  | 507,740 |  |  | 4,669,494 |
Acquisitions | — |  |  | — |  |  | — |  |  | 224,771 |  |  | 2,990 |  |  | 227,761 |
Measurement period adjustments | — |  |  | — |  |  | — |  |  | (5,103) |  |  | — |  |  | (5,103) |
Held for sale | (58,897) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (58,897) |
Foreign currency translation | 5,736 |  |  | 17,884 |  |  | 14,701 |  |  | 9,368 |  |  | 743 |  |  | 48,432 |
Balance at December 31, 2023 | $ | 659,381 |  |  | $ | 1,409,302 |  |  | $ | 1,092,960 |  |  | $ | 1,208,571 |  |  | $ | 511,473 |  |  | $ | 4,881,687 |
(1) Accumulated impairment loss as of December 31, 2023 is not subject to foreign currency translation.
Schedule of Intangible Assets | The Company's definite-lived and indefinite-lived intangible assets by major asset class were as follows:
| December 31, 2023 |  | December 31, 2022
| Gross Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Amount |  | Accumulated Amortization |  | Net Carrying Amount
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer intangibles | $ | 2,138,788 |  |  | $ | 1,094,053 |  |  | $ | 1,044,735 |  |  | $ | 1,881,402 |  |  | $ | 996,947 |  |  | $ | 884,455 |
Trademarks | 274,711 |  |  | 147,212 |  |  | 127,499 |  |  | 265,466 |  |  | 132,791 |  |  | 132,675 |
Patents | 206,871 |  |  | 142,719 |  |  | 64,152 |  |  | 219,199 |  |  | 146,337 |  |  | 72,862 |
Unpatented technologies | 277,198 |  |  | 159,148 |  |  | 118,050 |  |  | 257,428 |  |  | 137,750 |  |  | 119,678 |
Distributor relationships | 82,031 |  |  | 63,343 |  |  | 18,688 |  |  | 79,622 |  |  | 57,299 |  |  | 22,323 |
Other | 24,211 |  |  | 10,053 |  |  | 14,158 |  |  | 46,880 |  |  | 41,682 |  |  | 5,198 |
Total | 3,003,810 |  |  | 1,616,528 |  |  | 1,387,282 |  |  | 2,749,997 |  |  | 1,512,806 |  |  | 1,237,191 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Trademarks | 96,631 |  |  | — |  |  | 96,631 |  |  | 96,544 |  |  | — |  |  | 96,544 |
Total intangible assets, net | $ | 3,100,441 |  |  | $ | 1,616,528 |  |  | $ | 1,483,913 |  |  | $ | 2,846,541 |  |  | $ | 1,512,806 |  |  | $ | 1,333,735 |
Schedule of Indefinite-lived Intangible Assets | The Company's definite-lived and indefinite-lived intangible assets by major asset class were as follows:
| December 31, 2023 |  | December 31, 2022
| Gross Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Amount |  | Accumulated Amortization |  | Net Carrying Amount
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer intangibles | $ | 2,138,788 |  |  | $ | 1,094,053 |  |  | $ | 1,044,735 |  |  | $ | 1,881,402 |  |  | $ | 996,947 |  |  | $ | 884,455 |
Trademarks | 274,711 |  |  | 147,212 |  |  | 127,499 |  |  | 265,466 |  |  | 132,791 |  |  | 132,675 |
Patents | 206,871 |  |  | 142,719 |  |  | 64,152 |  |  | 219,199 |  |  | 146,337 |  |  | 72,862 |
Unpatented technologies | 277,198 |  |  | 159,148 |  |  | 118,050 |  |  | 257,428 |  |  | 137,750 |  |  | 119,678 |
Distributor relationships | 82,031 |  |  | 63,343 |  |  | 18,688 |  |  | 79,622 |  |  | 57,299 |  |  | 22,323 |
Other | 24,211 |  |  | 10,053 |  |  | 14,158 |  |  | 46,880 |  |  | 41,682 |  |  | 5,198 |
Total | 3,003,810 |  |  | 1,616,528 |  |  | 1,387,282 |  |  | 2,749,997 |  |  | 1,512,806 |  |  | 1,237,191 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Trademarks | 96,631 |  |  | — |  |  | 96,631 |  |  | 96,544 |  |  | — |  |  | 96,544 |
Total intangible assets, net | $ | 3,100,441 |  |  | $ | 1,616,528 |  |  | $ | 1,483,913 |  |  | $ | 2,846,541 |  |  | $ | 1,512,806 |  |  | $ | 1,333,735 |
Schedule of Future Amortization Expense | Estimated future amortization expense related to intangible assets held at December 31, 2023 for the next five years is as follows:
| Estimated Amortization
2024 | $ | 173,935 |
2025 | 170,536 |
2026 | 161,908 |
2027 | 158,340 |
2028 | 126,227 |

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