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Goodwill and Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the nine months ended September 30, 2024, by reportable business segment, were as follows:
| FMT |  | HST |  | FSDP |  | IDEX
Goodwill | $ | 805.7 |  |  | $ | 1,834.5 |  |  | $ | 398.7 |  |  | $ | 3,038.9 |
Accumulated goodwill impairment losses | (20.7) |  |  | (149.8) |  |  | (30.1) |  |  | (200.6) |
Balance at January 1, 2024 | 785.0 |  |  | 1,684.7 |  |  | 368.6 |  |  | 2,838.3 |
Foreign currency translation | 0.3 |  |  | 5.2 |  |  | 1.3 |  |  | 6.8 |
Acquisitions | — |  |  | 480.3 |  |  | — |  |  | 480.3 |
Measurement period adjustments | — |  |  | 2.2 |  |  | — |  |  | 2.2 |
Divestitures | (11.6) |  |  | — |  |  | — |  |  | (11.6) |
Balance at September 30, 2024 | $ | 773.7 |  |  | $ | 2,172.4 |  |  | $ | 369.9 |  |  | $ | 3,316.0 |
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 September 30, 2024 and December 31, 2023:
| September 30, 2024 |  | December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Patents | $ | 2.7 |  |  | $ | (2.1) |  |  | $ | 0.6 |  |  | $ | 2.7 |  |  | $ | (2.0) |  |  | $ | 0.7 |
Trade names | 207.0 |  |  | (58.2) |  |  | 148.8 |  |  | 171.9 |  |  | (54.3) |  |  | 117.6 |
Customer relationships | 1,109.0 |  |  | (266.3) |  |  | 842.7 |  |  | 860.7 |  |  | (228.7) |  |  | 632.0 |
Unpatented technology | 336.2 |  |  | (82.3) |  |  | 253.9 |  |  | 233.5 |  |  | (66.3) |  |  | 167.2 |
Software | 15.6 |  |  | (3.1) |  |  | 12.5 |  |  | 5.3 |  |  | (1.9) |  |  | 3.4 |
Total amortized intangible assets | 1,670.5 |  |  | (412.0) |  |  | 1,258.5 |  |  | 1,274.1 |  |  | (353.2) |  |  | 920.9 |
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 | $ | 1,761.4 |  |  | $ | (412.0) |  |  | $ | 1,349.4 |  |  | $ | 1,365.0 |  |  | $ | (353.2) |  |  | $ | 1,011.8 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Based on the intangible asset balances as of September 30, 2024, expected amortization expense for the remaining three months of 2024 and for the years 2025 through 2028 is as follows:
|  | Estimated Amortization
Remainder of 2024 |  | $ | 32.6 |
2025 |  | 128.1 |
2026 |  | 126.4 |
2027 |  | 122.7 |
2028 |  | 119.5 |

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