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GOODWILL (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill [Line Items] |
Schedule of Goodwill [Table Text Block] |
| Nine Months Ended
| September 30, 2024
| EES |  | CSS |  | UBS |  | Total
| (In millions)
Beginning balance, January 1 | $ | 838.1 |  |  | $ | 1,211.6 |  |  | $ | 1,212.6 |  |  | $ | 3,262.3 |
Foreign currency exchange rate changes | (11.8) |  |  | (1.8) |  |  | (5.4) |  |  | (19.0) |
Adjustments to goodwill for acquisitions(1) | 3.5 |  |  | 29.0 |  |  | — |  |  | 32.5 |
Adjustment to goodwill for divestiture(2) | — |  |  | — |  |  | (58.1) |  |  | (58.1) |
Ending balance, September 30 | $ | 829.8 |  |  | $ | 1,238.8 |  |  | $ | 1,149.1 |  |  | $ | 3,217.7 |
(1) Reflects the preliminary allocation of the purchase price paid to acquire IES and entroCIM, which are part of the EES and CSS segments, respectively, as described in Note 4, “Acquisitions and Divestitures”. (2) Reflects the amount of goodwill that was allocated to the WIS business, which was part of the UBS segment, and was sold on April 1, 2024, as described in Note 4, “Acquisitions and Divestitures”.
Schedule of Finite-Lived Intangible Assets | The components of intangible assets are as follows:
|  | As of
|  | September 30, 2024 |  | December 31, 2023
| 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 |  |  | $ | 793.0 |  |  | $ | — |  |  | $ | 793.0 |
Customer relationships | 10 - 20 | 1,466.0 |  |  | (468.7) |  |  | 997.3 |  |  | 1,519.9 |  |  | (464.4) |  |  | 1,055.5 |
Distribution agreements | 15 and 19 | 29.2 |  |  | (27.3) |  |  | 1.9 |  |  | 29.2 |  |  | (26.0) |  |  | 3.2 |
Trademarks | 5 and 12 | 15.5 |  |  | (11.2) |  |  | 4.3 |  |  | 15.5 |  |  | (9.6) |  |  | 5.9 |
Software | 7 | 16.0 |  |  | (0.5) |  |  | 15.5 |  |  | — |  |  | — |  |  | — |
|  | $ | 2,318.9 |  |  | $ | (507.7) |  |  | $ | 1,811.2 |  |  | $ | 2,357.6 |  |  | $ | (500.0) |  |  | $ | 1,857.6 |
(1) Excludes the original cost and related accumulated amortization of fully-amortized intangible assets.
Schedule of Finite-Lived Intangible Assets, Future 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 | $ | 22.0 |
2025 | 85.8 |
2026 | 80.4 |
2027 | 77.6 |
2028 | 75.9 |
Thereafter | 677.3 |
Total | $ | 1,019.0 |

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