Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table represents the changes in goodwill by segment:


	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Consolidated
Balance at December 31, 2020	$	93.2	$	435.2	$	172.4	$	165.1	$	865.9
Goodwill acquired during the period (1)	—		—		52.1		—		52.1
Foreign currency translation adjustments	(4.8)		(2.6)		—		—		(7.4)
Purchase price adjustment (1)	—		—		0.7		—		0.7
Balance at March 31, 2021	$	88.4	$	432.6	$	225.2	$	165.1	$	911.3

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(1)During the first quarter of 2021, we recorded a purchase price adjustment that increased goodwill by $0.7 in Specialty Products related to the Cryogenic Gas Technologies, Inc. acquisition. For further information regarding goodwill acquired and the purchase price adjustment during the period refer to Note 11, “Business Combinations.”

Amounts included in accumulated goodwill impairment loss at both March 31, 2021 and December 31, 2020 were $129.0 ($23.5 - Cryo Tank Solutions, $49.3 - Heat Transfer Systems, $35.8 - Specialty Products, $20.4 - Repair, Service & Leasing).

Intangible Assets

The following table displays the gross carrying amount and accumulated amortization for finite-lived intangible assets and indefinite-lived intangible assets (exclusive of goodwill) (1):


		March 31, 2021				December 31, 2020
	Weighted-average Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Customer relationships	13 years	$	300.2	$	(65.0)	$	302.5	$	(59.9)
Unpatented technology	12 years	110.8		(24.2)		110.4		(22.3)
Patents and other	6 years	5.6		(0.4)		8.4		(1.8)
Trademarks and trade names	11 years	3.3		(1.6)		3.6		(1.4)
Land use rights	50 years	11.0		(1.4)		11.1		(1.4)
Total finite-lived intangible assets	13 years	430.9		(92.6)		436.0		(86.8)
Indefinite-lived intangible assets:
Trademarks and trade names		143.1		—		143.9		—
Total intangible assets		$	574.0	$	(92.6)	$	579.9	$	(86.8)

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(1)Amounts include the impact of foreign currency translation. Fully amortized or impaired amounts are written off.

Amortization expense for intangible assets subject to amortization was $8.8 and $14.0 for the three months ended March 31, 2021 and 2020, respectively. We estimate amortization expense to be recognized during the next five years as follows:


For the Year Ending December 31,
2021	$	35.7
2022	34.6
2023	34.4
2024	34.1
2025	33.2

Government Grants

We received certain government grants related to land use rights for capacity expansion in China (“China Government Grants”). China Government Grants are generally recorded in other current liabilities and other long-term liabilities in the unaudited condensed consolidated balance sheets and generally recognized into income over the useful life of the associated assets (10 to 50 years).

China Government Grants are presented in our unaudited condensed consolidated balance sheets as follows:


	March 31, 2021		December 31, 2020
Current	$	0.5	$	0.5
Long-term	7.1		7.3
Total China Government Grants	$	7.6	$	7.8