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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets 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, 2021 | $ | 84.9 |  |  | $ | 433.6 |  |  | $ | 300.9 |  |  | $ | 175.2 |  |  | $ | 994.6 |
Goodwill acquired during the period (1) | — |  |  | — |  |  | 14.1 |  |  | 3.8 |  |  | 17.9 |
Foreign currency translation adjustments and other | (8.3) |  |  | (4.4) |  |  | — |  |  | (0.4) |  |  | (13.1) |
Purchase price adjustments (2) | — |  |  | — |  |  | (14.5) |  |  | — |  |  | (14.5) |
Balance at June 30, 2022 | $ | 76.6 |  |  | $ | 429.2 |  |  | $ | 300.5 |  |  | $ | 178.6 |  |  | $ | 984.9 |
Accumulated goodwill impairment loss at December 31, 2021 | $ | 23.5 |  |  | $ | 49.3 |  |  | $ | 35.8 |  |  | $ | 20.4 |  |  | $ | 129.0 |
Impairment loss | — |  |  | — |  |  | — |  |  | — |  |  | — |
Accumulated goodwill impairment loss at June 30, 2022 | $ | 23.5 |  |  | $ | 49.3 |  |  | $ | 35.8 |  |  | $ | 20.4 |  |  | $ | 129.0 |
_______________ (1)Goodwill acquired during the period was $17.9. Goodwill acquired during the period for the Fronti and AdEdge India acquisitions of $13.0 and $1.1, respectively, were allocated to our Specialty Products segment. Goodwill acquired during the period for our CSC acquisition of $3.8 was allocated to our Repair, Service & Leasing segment. (2)During the first six months of 2022, we recorded purchase price adjustments that decreased goodwill by $14.5 in our Specialty Products segment related to the Earthly Labs, Inc., L.A. Turbine and AdEdge acquisitions. For further information regarding goodwill acquired and the purchase price adjustments during the period refer to Note 10, “Business Combinations.” 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):
|  |  | June 30, 2022 |  | December 31, 2021
| Weighted-average Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Customer relationships | 13 years |  | $ | 307.8 |  |  | $ | (92.5) |  |  | $ | 312.1 |  |  | $ | (82.2) |
Unpatented technology | 13 years |  | 203.5 |  |  | (37.6) |  |  | 184.6 |  |  | (30.1) |
Patents and other | 6 years |  | 6.0 |  |  | (1.3) |  |  | 7.9 |  |  | (2.3) |
Trademarks and trade names | 15 years |  | 2.5 |  |  | (1.8) |  |  | 3.5 |  |  | (1.8) |
Land use rights | 50 years |  | 10.8 |  |  | (1.7) |  |  | 11.4 |  |  | (1.6) |
Total finite-lived intangible assets | 14 years |  | 530.6 |  |  | (134.9) |  |  | 519.5 |  |  | (118.0) |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks and trade names (2) |  |  | 153.7 |  |  | — |  |  | 154.6 |  |  | — |
Total intangible assets |  |  | $ | 684.3 |  |  | $ | (134.9) |  |  | $ | 674.1 |  |  | $ | (118.0) |
_______________ (1)Amounts include the impact of foreign currency translation. Fully amortized or impaired amounts are written off. (2)Accumulated indefinite-lived intangible assets impairment loss was $16.0 at both June 30, 2022 and December 31, 2021. Amortization expense for intangible assets subject to amortization was $11.7 and $9.6 for the three months ended June 30, 2022 and 2021, respectively, and $21.8 and $18.4 for the six months ended June 30, 2022 and 2021, respectively. We estimate amortization expense to be recognized during the next five years as follows:
For the Year Ending December 31, |
2022 | $ | 42.0 |
2023 | 41.9 |
2024 | 40.7 |
2025 | 39.8 |
2026 | 39.2 |
Government Grants During the fourth quarter of 2021, we were selected by the U.S. Department of Energy (“DOE”) for funding of up to $5.0 million to engineer and build our Cryogenic Carbon Capture TM system for a cement plant. During the project’s duration, the DOE shall reimburse us in cash for approved expenses we incur. This project began on February 1, 2022, at which point expenses incurred may be submitted for reimbursement. The agreement will be effective until April 30, 2025. We have not yet received any funding for this grant. 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:
| June 30, 2022 |  | December 31, 2021
Current | $ | 0.5 |  |  | $ | 0.5 |
Long-term | 6.5 |  |  | 7.0 |
Total China Government Grants | $ | 7.0 |  |  | $ | 7.5 |
We also received government grants from certain local jurisdictions within the United States, which are recorded in other assets in the condensed consolidated balance sheets and were not significant for the periods presented.

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