Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 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) (2)	—		2.9		82.1		10.1		95.1
Foreign currency translation adjustments and other	(6.1)		(3.3)		0.2		—		(9.2)
Purchase price adjustments (3)	—		—		0.9		—		0.9
Balance at September 30, 2021	$	87.1	$	434.8	$	255.6	$	175.2	$	952.7

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(1)For further information regarding goodwill acquired and the purchase price adjustments during the period refer to Note 11, “Business Combinations.”

(2)Goodwill acquired during the period for the L.A. Turbine acquisition of $42.1 was allocated to certain reporting units as follows: $2.9 - Heat Transfer Systems, $29.1 - Specialty Products and $10.1 - Repair Service & Leasing. Goodwill acquired during the period for the Cryogenic Gas Technologies, Inc. and AdEdge Holdings, LLC acquisitions was $34.1 and $18.9, respectively and is included in the Specialty Products segment.

(3)During the first nine months of 2021, we recorded purchase price adjustments that increased goodwill by $0.9 in Specialty Products related to the Blue-In-Green, LLC acquisition.

Amounts included in accumulated goodwill impairment loss at both September 30, 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):


		September 30, 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	$	317.5	$	(76.7)	$	302.5	$	(59.9)
Unpatented technology	13 years	151.2		(27.0)		110.4		(22.3)
Patents and other	5 years	7.8		(1.1)		8.4		(1.8)
Trademarks and trade names	13 years	3.5		(1.7)		3.6		(1.4)
Land use rights	50 years	11.2		(1.6)		11.1		(1.4)
Total finite-lived intangible assets	14 years	491.2		(108.1)		436.0		(86.8)
Indefinite-lived intangible assets:
Trademarks and trade names		154.9		—		143.9		—
Total intangible assets		$	646.1	$	(108.1)	$	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 $10.1 and $9.4 for the three months ended September 30, 2021 and 2020, respectively, and $28.5 and $37.3 for the nine months ended September 30, 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	$	38.6
2022	39.6
2023	38.8
2024	37.5
2025	36.7

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:


	September 30, 2021		December 31, 2020
Current	$	0.5	$	0.5
Long-term	7.0		7.3
Total China Government Grants	$	7.5	$	7.8