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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the three months ended March 31, 2023, by reportable business segment, were as follows:
| FMT |  | HST |  | FSDP |  | IDEX
Goodwill | $ | 800.9 |  |  | $ | 1,644.8 |  |  | $ | 393.0 |  |  | $ | 2,838.7 |
Accumulated goodwill impairment losses | (20.7) |  |  | (149.8) |  |  | (30.1) |  |  | (200.6) |
Balance at January 1, 2023 | 780.2 |  |  | 1,495.0 |  |  | 362.9 |  |  | 2,638.1 |
Foreign currency translation | 2.8 |  |  | 14.0 |  |  | 3.0 |  |  | 19.8 |
Acquisition adjustments | (1.8) |  |  | 1.8 |  |  | — |  |  | — |
Balance at March 31, 2023 | $ | 781.2 |  |  | $ | 1,510.8 |  |  | $ | 365.9 |  |  | $ | 2,657.9 |
Schedule of Gross Carrying Value and Accumulated Amortization For Each Major Class of Intangible Asset | The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at March 31, 2023 and December 31, 2022:
| At March 31, 2023 |  |  |  | At December 31, 2022
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Weighted Average Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Patents | $ | 2.9 |  |  | $ | (1.9) |  |  | $ | 1.0 |  |  | 12 |  | $ | 2.9 |  |  | $ | (1.8) |  |  | $ | 1.1 |
Trade names | 188.4 |  |  | (75.5) |  |  | 112.9 |  |  | 15 |  | 186.5 |  |  | (71.4) |  |  | 115.1 |
Customer relationships | 774.7 |  |  | (196.6) |  |  | 578.1 |  |  | 13 |  | 772.2 |  |  | (184.9) |  |  | 587.3 |
Unpatented technology | 206.1 |  |  | (59.3) |  |  | 146.8 |  |  | 12 |  | 207.1 |  |  | (57.8) |  |  | 149.3 |
Software | 4.9 |  |  | (1.1) |  |  | 3.8 |  |  | 5 |  | 4.8 |  |  | (0.7) |  |  | 4.1 |
Total amortized intangible assets | 1,177.0 |  |  | (334.4) |  |  | 842.6 |  |  |  |  | 1,173.5 |  |  | (316.6) |  |  | 856.9 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Banjo trade name | 62.1 |  |  | — |  |  | 62.1 |  |  |  |  | 62.1 |  |  | — |  |  | 62.1 |
Akron Brass trade name | 28.8 |  |  | — |  |  | 28.8 |  |  |  |  | 28.8 |  |  | — |  |  | 28.8 |
Total intangible assets | $ | 1,267.9 |  |  | $ | (334.4) |  |  | $ | 933.5 |  |  |  |  | $ | 1,264.4 |  |  | $ | (316.6) |  |  | $ | 947.8 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Based on the intangible asset balances as of March 31, 2023, expected amortization expense for the remaining nine months of 2023 and for the years 2024 through 2027 is as follows:
Maturity of Intangible Assets |  | Estimated Amortization
2023 (excluding the three months ended March 31, 2023) |  | $ | 68.8 |
2024 |  | 87.6 |
2025 |  | 86.2 |
2026 |  | 84.5 |
2027 |  | 80.5 |

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