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Goodwill and Other Identifiable Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill by Segment

The changes in the carrying amount of goodwill by reportable segment were as follows:

In millions			December 31, 2022			Acquisitions/ divestitures						Foreign currency translation/other			September 30, 2023
Enclosures			$	414.4		$	11.5					$	(1.7)		$	424.2
Electrical & Fastening Solutions			1,052.0			371.7						—			1,423.7
Thermal Management			711.7			—						0.2			711.9
Total goodwill			$	2,178.1		$	383.2					$	(1.5)		$	2,559.8

Schedule of Finite-Lived Intangible Assets

Identifiable intangible assets consisted of the following:

			September 30, 2023												December 31, 2022
In millions			Cost			Accumulated amortization			Net						Cost			Accumulated amortization			Net
Definite-life intangibles
Customer relationships			$	1,680.2		$	(576.5)		$	1,103.7					$	1,287.6		$	(519.1)		$	768.5
Proprietary technology and patents			63.3			(19.1)			44.2						39.7			(15.2)			24.5
Other finite-lived intangible assets			18.0			(2.9)			15.1						—			—			—
Total definite-life intangibles			1,761.5			(598.5)			1,163.0						1,327.3			(534.3)			793.0
Indefinite-life intangibles
Trade names			375.4			—			375.4						273.1			—			273.1
Total intangibles			$	2,136.9		$	(598.5)		$	1,538.4					$	1,600.4		$	(534.3)		$	1,066.1

Schedule of Indefinite-Lived Intangible Assets

Identifiable intangible assets consisted of the following:

			September 30, 2023												December 31, 2022
In millions			Cost			Accumulated amortization			Net						Cost			Accumulated amortization			Net
Definite-life intangibles
Customer relationships			$	1,680.2		$	(576.5)		$	1,103.7					$	1,287.6		$	(519.1)		$	768.5
Proprietary technology and patents			63.3			(19.1)			44.2						39.7			(15.2)			24.5
Other finite-lived intangible assets			18.0			(2.9)			15.1						—			—			—
Total definite-life intangibles			1,761.5			(598.5)			1,163.0						1,327.3			(534.3)			793.0
Indefinite-life intangibles
Trade names			375.4			—			375.4						273.1			—			273.1
Total intangibles			$	2,136.9		$	(598.5)		$	1,538.4					$	1,600.4		$	(534.3)		$	1,066.1

Estimated Future Amortization Expense for Identifiable Intangible Assets

Estimated future amortization expense for identifiable intangible assets during the remainder of 2023 and the next five years is as follows:

			Q4
In millions			2023			2024			2025			2026			2027			2028
Estimated amortization expense			$	25.2		$	96.6		$	94.1		$	94.1		$	94.1		$	89.8

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