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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 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 | — |  |  | — |  |  | — |  |  | 322,952 |  |  | — |  |  | 322,952 |
Measurement period adjustments | — |  |  | 4,677 |  |  | — |  |  | (188) |  |  | — |  |  | 4,489 |
Foreign currency translation | 14,282 |  |  | 49,688 |  |  | 42,576 |  |  | 28,977 |  |  | 2,019 |  |  | 137,542 |
Balance at June 30, 2025 | $ | 429,546 |  |  | $ | 1,749,762 |  |  | $ | 1,114,607 |  |  | $ | 1,563,783 |  |  | $ | 512,987 |  |  | $ | 5,370,685 |
During the six months ended June 30, 2025, the Company recognized additions of $322,952 to goodwill as a result of the acquisitions discussed in Note 3 — Acquisitions. Additionally, during the six months ended June 30, 2025, the Company recognized measurement period adjustments of $4,489 primarily related to the Marshall Excelsior Company acquisition in the third quarter of 2024 under the Clean Energy & Fueling segment. The Company’s definite-lived and indefinite-lived intangible assets by major asset class were as follows:
| June 30, 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 | $ | 2,697,833 |  |  | $ | 1,286,551 |  |  | $ | 1,411,282 |  |  | $ | 2,343,823 |  |  | $ | 1,174,195 |  |  | $ | 1,169,628 |
Trademarks | 310,628 |  |  | 170,661 |  |  | 139,967 |  |  | 283,216 |  |  | 156,745 |  |  | 126,471 |
Patents | 196,719 |  |  | 144,061 |  |  | 52,658 |  |  | 201,828 |  |  | 146,271 |  |  | 55,557 |
Unpatented technologies | 363,721 |  |  | 188,217 |  |  | 175,504 |  |  | 277,945 |  |  | 169,310 |  |  | 108,635 |
Distributor relationships | 85,665 |  |  | 73,300 |  |  | 12,365 |  |  | 79,855 |  |  | 66,469 |  |  | 13,386 |
Other | 25,287 |  |  | 13,683 |  |  | 11,604 |  |  | 22,100 |  |  | 11,400 |  |  | 10,700 |
Total | 3,679,853 |  |  | 1,876,473 |  |  | 1,803,380 |  |  | 3,208,767 |  |  | 1,724,390 |  |  | 1,484,377 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |
Trademarks | 96,709 |  |  | — |  |  | 96,709 |  |  | 96,477 |  |  | — |  |  | 96,477 |
Total intangible assets, net | $ | 3,776,562 |  |  | $ | 1,876,473 |  |  | $ | 1,900,089 |  |  | $ | 3,305,244 |  |  | $ | 1,724,390 |  |  | $ | 1,580,854 |
For the three months ended June 30, 2025 and 2024, amortization expense was $51,226 and $44,186, respectively. For the six months ended June 30, 2025 and 2024, amortization expense was $99,975 and $88,131, respectively. Amortization expense is primarily comprised of acquisition-related intangible amortization. During the six months ended June 30, 2025, the Company acquired $378,414 of intangible assets, primarily customer intangibles, through acquisitions 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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