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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2025
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 segments were as follows:
| Engineered Products |  | Clean Energy & Fueling |  | Imaging & Identification |  | Pumps & Process Solutions |  | Climate & Sustainability Technologies |  | Total
Balance at January 1, 2025 | $ | 415,264 |  |  | $ | 1,695,397 |  |  | $ | 1,072,031 |  |  | $ | 1,212,042 |  |  | $ | 510,968 |  |  | $ | 4,905,702 |
Acquisitions | — |  |  | — |  |  | — |  |  | 9,697 |  |  | — |  |  | 9,697 |
Measurement period adjustments | — |  |  | 3,567 |  |  | — |  |  | — |  |  | — |  |  | 3,567 |
Foreign currency translation | 4,362 |  |  | 14,836 |  |  | 14,424 |  |  | 7,192 |  |  | 632 |  |  | 41,446 |
Balance at March 31, 2025 | $ | 419,626 |  |  | $ | 1,713,800 |  |  | $ | 1,086,455 |  |  | $ | 1,228,931 |  |  | $ | 511,600 |  |  | $ | 4,960,412 |
During the three months ended March 31, 2025, the Company recognized additions of $9,697 to goodwill as a result of the acquisition discussed in Note 3 — Acquisitions. Additionally, during the three months ended March 31, 2025, the Company recognized measurement period adjustments of $3,567 relating to third quarter 2024 acquisitions under the Clean Energy & Fueling segment. The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:
| March 31, 2025 |  | December 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer intangibles | $ | 2,379,923 |  |  | $ | 1,220,160 |  |  | $ | 1,159,763 |  |  | $ | 2,343,823 |  |  | $ | 1,174,195 |  |  | $ | 1,169,628 |
Trademarks | 286,639 |  |  | 162,588 |  |  | 124,051 |  |  | 283,216 |  |  | 156,745 |  |  | 126,471 |
Patents | 203,482 |  |  | 149,593 |  |  | 53,889 |  |  | 201,828 |  |  | 146,271 |  |  | 55,557 |
Unpatented technologies | 283,426 |  |  | 177,143 |  |  | 106,283 |  |  | 277,945 |  |  | 169,310 |  |  | 108,635 |
Distributor relationships | 81,744 |  |  | 69,041 |  |  | 12,703 |  |  | 79,855 |  |  | 66,469 |  |  | 13,386 |
Other | 22,842 |  |  | 12,342 |  |  | 10,500 |  |  | 22,100 |  |  | 11,400 |  |  | 10,700 |
Total | 3,258,056 |  |  | 1,790,867 |  |  | 1,467,189 |  |  | 3,208,767 |  |  | 1,724,390 |  |  | 1,484,377 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |
Trademarks | 96,543 |  |  | — |  |  | 96,543 |  |  | 96,477 |  |  | — |  |  | 96,477 |
Total intangible assets, net | $ | 3,354,599 |  |  | $ | 1,790,867 |  |  | $ | 1,563,732 |  |  | $ | 3,305,244 |  |  | $ | 1,724,390 |  |  | $ | 1,580,854 |
For the three months ended March 31, 2025 and 2024, amortization expense was $48,749 and $43,945, respectively. Amortization expense is primarily comprised of acquisition-related intangible amortization. During the three months ended March 31, 2025, the Company acquired $21,011 of intangible assets, primarily customer intangibles, through an acquisition within the Pumps & Process Solutions segment. See Note 3 — Acquisitions for further details.

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- 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
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