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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill by Segment | The following table represents the changes in goodwill by segment:
| Cryo Tank Solutions |  | Heat Transfer Systems |  | Specialty Products |  | Repair, Service & Leasing |  | Unallocated (3) |  | Consolidated
Balance at December 31, 2022 | $ | 79.1 |  |  | $ | 430.5 |  |  | $ | 304.0 |  |  | $ | 178.4 |  |  | $ | — |  |  | $ | 992.0 |
Goodwill acquired during the period (1) | — |  |  | — |  |  | — |  |  | — |  |  | 1,938.3 |  |  | 1,938.3 |
Foreign currency translation adjustments and other | 1.8 |  |  | 1.0 |  |  | — |  |  | — |  |  | — |  |  | 2.8 |
Purchase price adjustments (2) | — |  |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Balance at March 31, 2023 | $ | 80.9 |  |  | $ | 431.5 |  |  | $ | 304.1 |  |  | $ | 178.4 |  |  | $ | 1,938.3 |  |  | $ | 2,933.2 |
Accumulated goodwill impairment loss at December 31, 2022 | $ | 23.5 |  |  | $ | 49.3 |  |  | $ | 35.8 |  |  | $ | 20.4 |  |  | $ | — |  |  | $ | 129.0 |
Impairment loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Accumulated goodwill impairment loss at March 31, 2023 | $ | 23.5 |  |  | $ | 49.3 |  |  | $ | 35.8 |  |  | $ | 20.4 |  |  | $ | — |  |  | $ | 129.0 |
_______________ (1)Goodwill acquired during the period was $1,938.3. All goodwill acquired during the period related to the Howden Acquisition. (2)During the first three months of 2023, we recorded purchase price adjustments that increased goodwill by $0.1 in our Specialty Products segment related to the 2022 acquisition of Fronti Fabrications, Inc. (“Fronti”). For further information regarding goodwill acquired and the purchase price adjustments during the period refer to Note 13, “Business Combinations.” (3)As discussed in Note 13, “Business Combinations”, on March 17, 2023, we acquired Howden. A preliminary goodwill balance of $1,938.3 was recognized for the excess of the consideration transferred over the net assets acquired. Goodwill resulting from this transaction has not yet been allocated at the reporting unit level, but will be allocated to the reporting units when the purchase price allocation is finalized during the measurement period and an analysis has been completed to determine an appropriate allocation based on the relative fair value of each of these reporting units.
Schedule of Finite-Lived 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, 2023 |  | December 31, 2022
| Weighted-average Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Customer relationships | 11 years |  | $ | 1,626.0 |  |  | $ | (115.2) |  |  | $ | 311.5 |  |  | $ | (104.6) |
Unpatented technology | 13 years |  | 522.1 |  |  | (50.3) |  |  | 202.5 |  |  | (44.8) |
Patents and other | 3 years |  | 366.4 |  |  | (7.7) |  |  | 6.8 |  |  | (2.0) |
Trademarks and trade names | 16 years |  | 2.9 |  |  | (1.8) |  |  | 2.5 |  |  | (1.7) |
Land use rights | 50 years |  | 10.5 |  |  | (1.8) |  |  | 10.4 |  |  | (1.7) |
Total finite-lived intangible assets | 10 years |  | 2,527.9 |  |  | (176.8) |  |  | 533.7 |  |  | (154.8) |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks and trade names (2) |  |  | 754.7 |  |  | — |  |  | 156.4 |  |  | — |
Total intangible assets |  |  | $ | 3,282.6 |  |  | $ | (176.8) |  |  | $ | 690.1 |  |  | $ | (154.8) |
_______________ (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 March 31, 2023 and December 31, 2022.
Schedule of Indefinite-Lived Intangible Aassets | 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, 2023 |  | December 31, 2022
| Weighted-average Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Customer relationships | 11 years |  | $ | 1,626.0 |  |  | $ | (115.2) |  |  | $ | 311.5 |  |  | $ | (104.6) |
Unpatented technology | 13 years |  | 522.1 |  |  | (50.3) |  |  | 202.5 |  |  | (44.8) |
Patents and other | 3 years |  | 366.4 |  |  | (7.7) |  |  | 6.8 |  |  | (2.0) |
Trademarks and trade names | 16 years |  | 2.9 |  |  | (1.8) |  |  | 2.5 |  |  | (1.7) |
Land use rights | 50 years |  | 10.5 |  |  | (1.8) |  |  | 10.4 |  |  | (1.7) |
Total finite-lived intangible assets | 10 years |  | 2,527.9 |  |  | (176.8) |  |  | 533.7 |  |  | (154.8) |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks and trade names (2) |  |  | 754.7 |  |  | — |  |  | 156.4 |  |  | — |
Total intangible assets |  |  | $ | 3,282.6 |  |  | $ | (176.8) |  |  | $ | 690.1 |  |  | $ | (154.8) |
_______________ (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 March 31, 2023 and December 31, 2022.
Schedule of Estimated Future Amortization | We estimate amortization expense to be recognized during the next five years as follows:
For the Year Ending December 31, |
2023 | $ | 241.7 |
2024 | 321.2 |
2025 | 320.2 |
2026 | 218.5 |
2027 | 194.8 |
Schedule of Government Grants | China Government Grants are presented in our unaudited condensed consolidated balance sheets as follows:
| March 31, 2023 |  | December 31, 2022
Current | $ | 0.5 |  |  | $ | 0.5 |
Long-term | 6.1 |  |  | 6.1 |
Total China Government Grants | $ | 6.6 |  |  | $ | 6.6 |

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