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Goodwill and Other Identifiable Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Identifiable Intangible Assets | Goodwill and Other Identifiable Intangible Assets The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 by reportable segment were as follows:
In millions | December 31, 2023 | Acquisitions |  |  | Foreign currency translation | December 31, 2024
Flow | $ | 767.1 |  | $ | — |  |  |  | $ | (36.7) |  | $ | 730.4 |
Water Solutions | 1,400.6 |  | — |  |  |  | (7.9) |  | 1,392.7 |
Pool | 1,106.9 |  | 56.6 |  |  |  | — |  | 1,163.5 |
Total goodwill | $ | 3,274.6 |  | $ | 56.6 |  |  |  | $ | (44.6) |  | $ | 3,286.6 |
In millions | December 31, 2022 |  | Purchase accounting adjustments | Foreign currency translation | December 31, 2023 |
Flow | $ | 747.6 |  |  | $ | — |  | $ | 19.5 |  | $ | 767.1 |  |
Water Solutions | 1,398.1 |  |  | (0.8) |  | 3.3 |  | 1,400.6 |  |
Pool | 1,106.9 |  |  | — |  | — |  | 1,106.9 |  |
Total goodwill | $ | 3,252.6 |  |  | $ | (0.8) |  | $ | 22.8 |  | $ | 3,274.6 |  |
There has been no impairment of goodwill for any of the years presented. Identifiable intangible assets consisted of the following at December 31:
| 2024 |  | 2023
In millions | Cost | Accumulated amortization | Net |  | Cost | Accumulated amortization | Net
Definite-life intangibles |  |  |  |  |  |  |
Customer relationships | $ | 1,146.5 |  | $ | (400.2) |  | $ | 746.3 |  |  | $ | 1,106.2 |  | $ | (361.8) |  | $ | 744.4 |
Proprietary technology and patents | 88.8 |  | (48.4) |  | 40.4 |  |  | 89.7 |  | (43.2) |  | 46.5 |
Total definite-life intangibles | 1,235.3 |  | (448.6) |  | 786.7 |  |  | 1,195.9 |  | (405.0) |  | 790.9 |
Indefinite-life intangibles |  |  |  |  |  |  |
Trade names | 247.1 |  | — |  | 247.1 |  |  | 251.5 |  | — |  | 251.5 |
Total intangibles | $ | 1,482.4 |  | $ | (448.6) |  | $ | 1,033.8 |  |  | $ | 1,447.4 |  | $ | (405.0) |  | $ | 1,042.4 |
Identifiable intangible asset amortization expense in 2024, 2023 and 2022 was $54.3 million, $55.3 million and $52.5 million, respectively. An impairment charge of $2.7 million was recorded in 2022 related to the write-off of a proprietary technology intangible asset as a result of a business exit announced in the fourth quarter of 2022. No impairment charge was recorded for identifiable intangible assets in 2024 or 2023. Estimated future amortization expense for identifiable intangible assets during the next five years is as follows:
In millions | 2025 | 2026 | 2027 | 2028 | 2029 |  |
Estimated amortization expense | $ | 57.1 |  | $ | 55.8 |  | $ | 54.5 |  | $ | 52.1 |  | $ | 51.7 |  |  |

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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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