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Goodwill and Other Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2024
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
Balance at January 1, 2024 | $ | 415,258 |  |  | $ | 1,409,302 |  |  | $ | 1,092,960 |  |  | $ | 1,208,571 |  |  | $ | 511,473 |  |  | $ | 4,637,564 |
Acquisitions | 7,622 |  |  | 309,917 |  |  | — |  |  | — |  |  | — |  |  | 317,539 |
Measurement period adjustments | — |  |  | — |  |  | — |  |  | 227 |  |  | 371 |  |  | 598 |
Foreign currency translation | 1,606 |  |  | 9,374 |  |  | 3,564 |  |  | 3,860 |  |  | 342 |  |  | 18,746 |
Balance at September 30, 2024 | $ | 424,486 |  |  | $ | 1,728,593 |  |  | $ | 1,096,524 |  |  | $ | 1,212,658 |  |  | $ | 512,186 |  |  | $ | 4,974,447 |
Schedule of Definite-lived Intangible Assets | The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:
| September 30, 2024 |  | December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer intangibles | $ | 2,378,879 |  |  | $ | 1,165,273 |  |  | $ | 1,213,606 |  |  | $ | 2,097,985 |  |  | $ | 1,064,609 |  |  | $ | 1,033,376 |
Trademarks | 287,546 |  |  | 155,554 |  |  | 131,992 |  |  | 268,605 |  |  | 142,505 |  |  | 126,100 |
Patents | 205,000 |  |  | 146,652 |  |  | 58,348 |  |  | 204,591 |  |  | 140,438 |  |  | 64,153 |
Unpatented technologies | 274,712 |  |  | 167,721 |  |  | 106,991 |  |  | 244,042 |  |  | 151,944 |  |  | 92,098 |
Distributor relationships | 83,450 |  |  | 67,976 |  |  | 15,474 |  |  | 82,031 |  |  | 63,343 |  |  | 18,688 |
Other | 35,034 |  |  | 12,705 |  |  | 22,329 |  |  | 24,211 |  |  | 10,053 |  |  | 14,158 |
Total | 3,264,621 |  |  | 1,715,881 |  |  | 1,548,740 |  |  | 2,921,465 |  |  | 1,572,892 |  |  | 1,348,573 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |
Trademarks | 96,639 |  |  | — |  |  | 96,639 |  |  | 96,631 |  |  | — |  |  | 96,631 |
Total intangible assets, net | $ | 3,361,260 |  |  | $ | 1,715,881 |  |  | $ | 1,645,379 |  |  | $ | 3,018,096 |  |  | $ | 1,572,892 |  |  | $ | 1,445,204 |
Schedule of Indefinite-lived Intangible Assets | The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:
| September 30, 2024 |  | December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer intangibles | $ | 2,378,879 |  |  | $ | 1,165,273 |  |  | $ | 1,213,606 |  |  | $ | 2,097,985 |  |  | $ | 1,064,609 |  |  | $ | 1,033,376 |
Trademarks | 287,546 |  |  | 155,554 |  |  | 131,992 |  |  | 268,605 |  |  | 142,505 |  |  | 126,100 |
Patents | 205,000 |  |  | 146,652 |  |  | 58,348 |  |  | 204,591 |  |  | 140,438 |  |  | 64,153 |
Unpatented technologies | 274,712 |  |  | 167,721 |  |  | 106,991 |  |  | 244,042 |  |  | 151,944 |  |  | 92,098 |
Distributor relationships | 83,450 |  |  | 67,976 |  |  | 15,474 |  |  | 82,031 |  |  | 63,343 |  |  | 18,688 |
Other | 35,034 |  |  | 12,705 |  |  | 22,329 |  |  | 24,211 |  |  | 10,053 |  |  | 14,158 |
Total | 3,264,621 |  |  | 1,715,881 |  |  | 1,548,740 |  |  | 2,921,465 |  |  | 1,572,892 |  |  | 1,348,573 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |
Trademarks | 96,639 |  |  | — |  |  | 96,639 |  |  | 96,631 |  |  | — |  |  | 96,631 |
Total intangible assets, net | $ | 3,361,260 |  |  | $ | 1,715,881 |  |  | $ | 1,645,379 |  |  | $ | 3,018,096 |  |  | $ | 1,572,892 |  |  | $ | 1,445,204 |

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