XML 43 R31.htm IDEA: XBRL DOCUMENT v3.21.2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

6 Months Ended

Jul. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill

The changes in the carrying amount of goodwill for the six months ended July 3, 2021 were as follows:

			December 31, 2020												Goodwill Resulting from Business Combinations (1)						Impairments												Foreign Currency Translation						July 3, 2021
HVAC reportable segment
Gross goodwill			$	492.2											$	—					$	—											$	(3.9)					$	488.3
Accumulated impairments			(340.6)												—						—												2.7						(337.9)
Goodwill			151.6												—						—												(1.2)						150.4
Detection and Measurement reportable segment
Gross goodwill			351.5												42.8						—												(0.3)						394.0
Accumulated impairments			(134.5)												—						—												(0.7)						(135.2)
Goodwill			217.0												42.8						—												(1.0)						258.8
Other
Gross goodwill			—												—						—												—						—
Accumulated impairments			—												—						—												—						—
Goodwill			—												—						—												—						—
Total
Gross goodwill			843.7												42.8						—												(4.2)						882.3
Accumulated impairments			(475.1)												—						—												2.0						(473.1)
Goodwill			$	368.6											$	42.8					$	—											$	(2.2)					$	409.2

___________________________

(1)Reflects (i) goodwill acquired with the Sealite acquisition of $39.6, (ii) an increase in ULC's goodwill during 2021 of $0.8 resulting from revisions to the valuation of certain assets and liabilities, and (iii) an increase in Sensors & Software's goodwill of $2.4 resulting from revisions to the valuation of certain assets and income tax accounts. As indicated in Note 1, the acquired assets, including goodwill, and liabilities assumed in the Sealite, ULC and Sensors & Software acquisitions have been recorded at estimates of fair value and are subject to change upon completion of acquisition accounting.

Schedule of Identifiable Intangible Assets

Identifiable intangible assets at July 3, 2021 and December 31, 2020 comprised the following:

			July 3, 2021																		December 31, 2020
			Gross Carrying Value						Accumulated Amortization						Net Carrying Value						Gross Carrying Value						Accumulated Amortization						Net Carrying Value
Intangible assets with determinable lives (1):
Customer relationships			$	115.2					$	(21.0)					$	94.2					$	103.4					$	(16.2)					$	87.2
Technology			60.7						(9.2)						51.5						54.4						(6.8)						47.6
Patents			4.5						(4.5)						—						4.5						(4.5)						—
Other			20.9						(15.8)						5.1						18.8						(12.5)						6.3
			201.3						(50.5)						150.8						181.1						(40.0)						141.1
Trademarks with indefinite lives (2)			175.0						—						175.0						163.9						—						163.9
Total			$	376.3					$	(50.5)					$	325.8					$	345.0					$	(40.0)					$	305.0

___________________________

(1)The identifiable intangible assets associated with the Sealite acquisition consist of customer backlog of $1.9, customer relationships of $12.1 and technology of $6.6.

(2)Changes during the six months ended July 3, 2021 related primarily to the acquisition of Sealite trademarks of $11.6.

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

+ Details

Name:	us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Name:	us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration