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Goodwill and Other Identifiable Intangible Assets | 6 Months Ended
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Jun. 30, 2025
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 by reportable segment were as follows:
In millions | December 31, 2024 |  |  | Foreign Currency Translation | June 30, 2025
Flow | $ | 730.4 |  |  |  | $ | 63.6 |  | $ | 794.0 |
Water Solutions | 1,392.7 |  |  |  | 14.1 |  | 1,406.8 |
Pool | 1,163.5 |  |  |  | — |  | 1,163.5 |
Total goodwill | $ | 3,286.6 |  |  |  | $ | 77.7 |  | $ | 3,364.3 |
Identifiable intangible assets consisted of the following:
| June 30, 2025 |  | December 31, 2024
In millions | Cost | Accumulated amortization | Net |  | Cost | Accumulated amortization | Net
Definite-life intangibles |  |  |  |  |  |  |
Customer relationships | $ | 1,052.4 |  | $ | (361.6) |  | $ | 690.8 |  |  | $ | 1,146.5 |  | $ | (400.2) |  | $ | 746.3 |
Proprietary technology and patents | 76.1 |  | (38.3) |  | 37.8 |  |  | 88.8 |  | (48.4) |  | 40.4 |
Total definite-life intangibles | 1,128.5 |  | (399.9) |  | 728.6 |  |  | 1,235.3 |  | (448.6) |  | 786.7 |
Indefinite-life intangibles |  |  |  |  |  |  |
Trade names | 255.3 |  | — |  | 255.3 |  |  | 247.1 |  | — |  | 247.1 |
Total intangibles | $ | 1,383.8 |  | $ | (399.9) |  | $ | 983.9 |  |  | $ | 1,482.4 |  | $ | (448.6) |  | $ | 1,033.8 |
Identifiable intangible asset amortization expense was $14.3 million and $13.4 million for the three months ended June 30, 2025 and 2024, and $28.5 million and $26.9 million for the six months ended June 30, 2025 and 2024, respectively. An impairment charge of $30.9 million was recorded during the three and six months ended June 30, 2025 related to the write-off of a definite-lived customer relationship intangible asset as a result of a business exit within our Water Solutions segment during the second quarter of 2025. The impairment charge was recorded in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income. No impairment was recognized for identifiable intangible assets for the three and six months ended June 30, 2024. Estimated future amortization expense for identifiable intangible assets during the remainder of 2025 and the next five years is as follows:
| Q3 - Q4 |  |  |  |  |
| 2025 | 2026 | 2027 | 2028 | 2029 | 2030
Estimated amortization expense | $ | 27.9 |  | $ | 54.4 |  | $ | 53.1 |  | $ | 50.5 |  | $ | 50.1 |  | $ | 49.5 |

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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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