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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets |
13) | Goodwill and Intangible Assets
Goodwill The Company’s methodology for allocating the purchase price relating to purchase acquisitions is determined through established and generally accepted valuation techniques. Goodwill is measured as the excess of the cost of the acquisition over the sum of the amounts assigned to tangible and identifiable intangible assets acquired less liabilities assumed. The Company assigns assets acquired (including goodwill) and liabilities assumed to one or more reporting units as of the date of acquisition. Typically acquisitions relate to a single reporting unit and thus do not require the allocation of goodwill to multiple reporting units. Goodwill and purchased intangible assets with indefinite useful lives are not amortized but are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The process of evaluating the potential impairment of goodwill and intangible assets requires significant judgment. The Company regularly monitors current business conditions and other factors including, but not limited to, adverse industry or economic trends, restructuring actions and lower projections of profitability that may impact future operating results. Effective January 1, 2021, the Company reassigned goodwill to certain reporting units within the Light & Motion reportable segment, resulting from a reorganization of the composition of reporting units. The goodwill was reassigned to the reporting units affected using the relative fair value approach. The Company also concluded that the fair value of each reporting unit exceeded its respective carrying value. The changes in the carrying amount of goodwill and accumulated impairment losses were as follows:
|  | 2021 |  |  | 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) |  |  | 168.0 |  |  |  | — |  |  |  | 168.0 |  |  |  | — |  |  |  | — |  |  |  | — |
Impairment of goodwill (2) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1.1 | ) |  |  | (1.1 | )
Foreign currency translation |  |  | (6.2 | ) |  |  | — |  |  |  | (6.2 | ) |  |  | 9.0 |  |  |  | — |  |  |  | 9.0 |
Ending balance at December 31 |  | $ | 1,373.6 |  |  | $ | (145.4 | ) |  | $ | 1,228.2 |  |  | $ | 1,211.8 |  |  | $ | (145.4 | ) |  | $ | 1,066.4 |
(1) | During the year ended December 31, 2021, the Company recorded goodwill related to the Photon Control Acquisition.
(2) | During the year ended December 31, 2020, the Company recorded goodwill impairment charges related to the pending closure of a facility in Europe.
Intangible Assets The Company’s acquired intangible assets are comprised of the following:
As of December 31, 2021 |  | Gross |  |  | Accumulated Impairment Charges |  |  | Accumulated Amortization |  |  | Foreign Currency Translation |  |  | Net |
Completed technology(1) |  | $ | 556.4 |  |  | $ | (0.1 | ) |  | $ | (241.7 | ) |  | $ | (0.2 | ) |  | $ | 314.4 |
Customer relationships(1) |  |  | 317.6 |  |  |  | (1.4 | ) |  |  | (124.2 | ) |  |  | (0.2 | ) |  |  | 191.8 |
Patents, trademarks, trade names and other(1) |  |  | 122.7 |  |  |  | — |  |  |  | (52.5 | ) |  |  | (0.4 | ) |  |  | 69.8 |
|  | $ | 996.7 |  |  | $ | (1.5 | ) |  | $ | (418.4 | ) |  | $ | (0.8 | ) |  | $ | 576.0 |
(1) | During the year ended December 31, 2021, the Company recorded $121.2 of separately identified intangible assets related to the Photon Control Acquisition, representing $110.0 in completed technology, $9.4 in customer relationships and $1.8 in 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 |
Aggregate amortization expense related to acquired intangible assets for 2021, 2020 and 2019 was $55.3, $55.2 and $67.4, respectively. Aggregate net amortization expense related to acquired intangible assets for future years is:
Year |  | Amount |
2022 |  | $ | 59.6 |
2023 |  |  | 58.2 |
2024 |  |  | 57.3 |
2025 |  |  | 56.3 |
2026 |  |  | 52.7 |
Thereafter |  |  | 236.0 |
The Company excluded $55.9 of indefinite-lived trademarks and trade names that were not subject to amortization from the table above.

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