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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the carrying amount of goodwill during the six months ended June 30, 2022 are summarized as follows (in millions):
| North America |  | South America |  | Europe/Middle East |  | Asia/Pacific/Africa |  | Consolidated
Balance as of December 31, 2021 | $ | 609.6 |  |  | $ | 81.7 |  |  | $ | 469.5 |  |  | $ | 120.0 |  |  | $ | 1,280.8 |
Acquisitions | 54.8 |  |  | — |  |  | — |  |  | — |  |  | 54.8 |
Foreign currency translation | (0.1) |  |  | 4.9 |  |  | (34.9) |  |  | (7.3) |  |  | (37.4) |
Balance as of June 30, 2022 | $ | 664.3 |  |  | $ | 86.6 |  |  | $ | 434.6 |  |  | $ | 112.7 |  |  | $ | 1,298.2 |
Goodwill is tested for impairment on an annual basis and more often if indications of impairment exist. The Company conducts its annual impairment analyses as of October 1 each fiscal year. Changes in the carrying amount of acquired intangible assets during the six months ended June 30, 2022 are summarized as follows (in millions):
Gross carrying amounts: | Trademarks and Tradenames |  | Customer Relationships |  | Patents and Technology |  | Land Use Rights |  | Total
Balance as of December 31, 2021 | $ | 189.0 |  |  | $ | 568.6 |  |  | $ | 139.9 |  |  | $ | 7.0 |  |  | $ | 904.5 |
Acquisitions | 7.1 |  |  | 15.4 |  |  | 15.4 |  |  | — |  |  | 37.9 |
Foreign currency translation | (5.9) |  |  | (11.4) |  |  | (6.2) |  |  | (0.3) |  |  | (23.8) |
Balance as of June 30, 2022 | $ | 190.2 |  |  | $ | 572.6 |  |  | $ | 149.1 |  |  | $ | 6.7 |  |  | $ | 918.6 |
Accumulated amortization: | Trademarks and Tradenames |  | Customer Relationships |  | Patents and Technology |  | Land Use Rights |  | Total
Balance as of December 31, 2021 | $ | 93.1 |  |  | $ | 409.7 |  |  | $ | 94.7 |  |  | $ | 1.5 |  |  | $ | 599.0 |
Amortization expense | 6.7 |  |  | 18.9 |  |  | 5.0 |  |  | 0.1 |  |  | 30.7 |
Foreign currency translation | (2.2) |  |  | (8.6) |  |  | (5.0) |  |  | (0.1) |  |  | (15.9) |
Balance as of June 30, 2022 | $ | 97.6 |  |  | $ | 420.0 |  |  | $ | 94.7 |  |  | $ | 1.5 |  |  | $ | 613.8 |
Indefinite-lived intangible assets: | Trademarks and Tradenames
Balance as of December 31, 2021 | $ | 86.7 |
Foreign currency translation | (2.7) |
Balance as of June 30, 2022 | $ | 84.0 |
The Company currently amortizes certain acquired intangible assets, primarily on a straight-line basis, over their estimated useful lives, which range from four to 50 years.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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