XML 30 R17.htm IDEA: XBRL DOCUMENT
v3.24.3

Goodwill and Other Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 8. Goodwill and Other Intangible Assets 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 |
During the nine months ended September 30, 2024, the Company recognized additions of $317,539 to goodwill as a result of the acquisitions discussed in Note 3 — Acquisitions, and disposed of $58,663 of goodwill that was previously classified as held for sale as of December 31, 2023. See Note 4 — Discontinued and Disposed Operations for further details. 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 |
For the three months ended September 30, 2024 and 2023, amortization expense was $47,838 and $38,205, respectively. For the nine months ended September 30, 2024 and 2023, amortization expense was $135,969 and $113,899, respectively. Amortization expense is primarily comprised of acquisition-related intangible amortization. During the nine months ended September 30, 2024, the Company acquired $320,458 of intangible assets through acquisitions. These assets were classified as customer intangibles, unpatented technologies and trademarks and included in the Clean Energy & Fueling, Engineered Products and Imaging & Identification segments. See Note 3 — Acquisitions for further details.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration