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Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill

The changes in the carrying amount of goodwill and accumulated impairment loss during the nine months ended September 30, 2021 and year ended December 31, 2020 were as follows:

 

 

 

Nine Months Ended September 30, 2021

 

 

Twelve Months Ended December 31, 2020

 

 

 

Gross

Carrying

Amount

 

 

Accumulated

Impairment

Loss

 

 

Net

 

 

Gross

Carrying

Amount

 

 

Accumulated

Impairment

Loss

 

 

Net

 

Beginning balance at January 1

 

$

1,211.8

 

 

$

(145.4

)

 

$

1,066.4

 

 

$

1,202.8

 

 

$

(144.3

)

 

$

1,058.5

 

Acquired goodwill(1)

 

 

168.2

 

 

 

—

 

 

 

168.2

 

 

 

—

 

 

 

—

 

 

 

—

 

Impairment of goodwill(2)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1.1

)

 

 

(1.1

)

Foreign currency translation

 

 

(8.4

)

 

 

—

 

 

 

(8.4

)

 

 

9.0

 

 

 

—

 

 

 

9.0

 

Ending balance at September 30, 2021 and December 31, 2020

 

$

1,371.6

 

 

$

(145.4

)

 

$

1,226.2

 

 

$

1,211.8

 

 

$

(145.4

)

 

$

1,066.4

 

 

 

(1)

During the nine months ended September 30, 2021, the Company recorded goodwill related to the acquisition of Photon Control.

 

(2)

During the twelve months ended December 31, 2020, the Company recorded $1.1 of goodwill impairment charges related to the pending closure of a facility in Europe.

 
Intangible Assets

Intangible Assets

Components of the Company’s intangible assets are comprised of the following:

 

As of September 30, 2021:

 

Gross

 

 

Accumulated

Impairment

Charges

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net

 

Completed technology(1)

 

$

556.4

 

 

$

(0.1

)

 

$

(232.2

)

 

$

(2.4

)

 

$

321.7

 

Customer relationships(1)

 

 

317.6

 

 

 

(1.4

)

 

 

(119.6

)

 

 

0.1

 

 

 

196.7

 

Patents, trademarks, trade names and other(1)

 

 

122.5

 

 

 

—

 

 

 

(51.5

)

 

 

0.1

 

 

 

71.1

 

 

 

$

996.5

 

 

$

(1.5

)

 

$

(403.3

)

 

$

(2.2

)

 

$

589.5

 

 

 

(1)

During the three months ended September 30, 2021, the Company recorded $121.0 of separately identified intangible assets related to the acquisition of Photon Control, of which $110.0 was completed technology, $9.4 was customer relationships and $1.6 was patents, trademarks, trade names and other.

 

 

 

 

As of December 31, 2020:

 

Gross

 

 

Accumulated

Impairment

Charges

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net

 

Completed technology

 

$

446.4

 

 

$

(0.1

)

 

$

(209.8

)

 

$

(0.1

)

 

$

236.4

 

Customer relationships

 

 

308.2

 

 

 

(1.4

)

 

 

(104.8

)

 

 

1.7

 

 

 

203.7

 

Patents, trademarks, trade names and other

 

 

120.9

 

 

 

—

 

 

 

(48.6

)

 

 

(0.2

)

 

 

72.1

 

 

 

$

875.5

 

 

$

(1.5

)

 

$

(363.2

)

 

$

1.4

 

 

$

512.2

 

 
Estimated Net Amortization Expense Aggregate net amortization expense related to acquired intangible assets for future years is as follows:

Year

 

Amount

 

2021 (remaining)

 

$

15.2

 

2022

 

 

59.7

 

2023

 

 

58.2

 

2024

 

 

57.3

 

2025

 

 

56.4

 

2026

 

 

52.8

 

Thereafter

 

 

234.0