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GOODWILL AND INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table sets forth the changes in the carrying value of goodwill by reportable segment for the periods presented:
| EES |  | CSS |  | UBS |  | Total
(In millions) |  |  |  |  |  |  |
Balance as of December 31, 2021 | $ | 861.0 |  |  | $ | 1,121.7 |  |  | $ | 1,225.7 |  |  | $ | 3,208.3 |
Adjustments to goodwill for acquisitions(1) | — |  |  | 97.4 |  |  | — |  |  | 97.4 |
Foreign currency exchange rate changes | (35.5) |  |  | (10.2) |  |  | (19.1) |  |  | (64.8) |
Balance as of December 31, 2022 | $ | 825.5 |  |  | $ | 1,208.9 |  |  | $ | 1,206.5 |  |  | $ | 3,240.9 |
Adjustments to goodwill for acquisitions(1) | — |  |  | 0.9 |  |  | — |  |  | 0.9 |
Foreign currency exchange rate changes | 12.6 |  |  | 1.8 |  |  | 6.1 |  |  | 20.5 |
Balance as of December 31, 2023 | $ | 838.1 |  |  | $ | 1,211.6 |  |  | $ | 1,212.6 |  |  | $ | 3,262.3 |
(1) Adjustments to goodwill reflect the preliminary allocation of the purchase price paid to acquire Rahi Systems, which is part of the CSS segment, and adjustments to the assets acquired and liabilities assumed since their initial measurement, as disclosed in Note 6, “Acquisitions and Disposals”.
Schedule of Intangible Assets by Major Class | The components of intangible assets are as follows:
|  |  | December 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
|  |  | (In millions)
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks | Indefinite |  | $ | 793.0 |  |  | $ | — |  |  | $ | 793.0 |  |  | $ | 792.1 |  |  | $ | — |  |  | $ | 792.1 |
Customer relationships | 10 - 20 |  | 1,519.9 |  |  | (464.4) |  |  | 1,055.5 |  |  | 1,516.0 |  |  | (377.6) |  |  | 1,138.3 |
Distribution agreements | 15 and 19 |  | 29.2 |  |  | (26.0) |  |  | 3.2 |  |  | 29.2 |  |  | (24.4) |  |  | 4.8 |
Trademarks | 5 and 12 |  | 15.5 |  |  | (9.6) |  |  | 5.9 |  |  | 15.5 |  |  | (7.4) |  |  | 8.1 |
|  |  | $ | 2,357.6 |  |  | $ | (500.0) |  |  | $ | 1,857.6 |  |  | $ | 2,352.8 |  |  | $ | (409.4) |  |  | $ | 1,943.4 |
(1)Excludes the original cost and related accumulated amortization of fully-amortized intangible assets.
Schedule of Expected Amortization Expense | 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)
2024 | $ | 86.3 |
2025 | 83.2 |
2026 | 77.8 |
2027 | 74.9 |
2028 | 73.2 |
Thereafter | 669.2 |

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