GOODWILL (Notes)

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

The following table sets forth the changes in the carrying value of goodwill by reportable segment for the period presented:


	Three Months Ended
	March 31, 2023
	EES		CSS		UBS		Total
	(In millions)
Beginning balance, January 1	$	825.5	$	1,208.9	$	1,206.5	$	3,240.9
Foreign currency exchange rate changes	1.3		(0.7)		0.7		1.3
Adjustments to goodwill for acquisitions(1)	—		2.6		—		2.6
Ending balance, March 31	$	826.8	$	1,210.8	$	1,207.2	$	3,244.8

(1) Reflects the effect on goodwill of adjustments to the assets acquired and liabilities assumed in the acquisition of Rahi Systems since their initial measurement, which is part of the CSS segment, as described in Note 4, "Acquisitions".

The components of intangible assets are as follows:


		As of
		March 31, 2023						December 31, 2022
	Life (in years)	Gross Carrying Amount (1)		Accumulated Amortization (1)		Net Carrying Amount		Gross Carrying Amount (1)		Accumulated Amortization (1)		Net Carrying Amount
Intangible assets:		(In millions)
Trademarks	Indefinite	$	792.2	$	—	$	792.2	$	792.1	$	—	$	792.1
Customer relationships	10 - 20	1,516.6		(399.3)		1,117.3		1,516.0		(377.6)		1,138.4
Distribution agreements	15 - 19	29.2		(24.8)		4.4		29.2		(24.4)		4.8
Trademarks	5 and 12	15.5		(7.9)		7.6		15.5		(7.4)		8.1
		$	2,353.5	$	(432.0)	$	1,921.5	$	2,352.8	$	(409.4)	$	1,943.4

(1) Excludes the original cost and related accumulated amortization of fully-amortized intangible assets.

Amortization expense related to intangible assets totaled $22.0 million and $25.7 million for the three months ended March 31, 2023 and 2022, respectively.

The following table sets forth the remaining estimated amortization expense for intangible assets for the next five years and thereafter:


For the year ending December 31,	(In millions)
2023	$	66.6
2024	86.1
2025	83.0
2026	77.7
2027	74.8
Thereafter	741.1