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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2023
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 three months ended March 31, 2023 are summarized as follows (in millions):
| North America |  | South America |  | Europe/Middle East |  | Asia/Pacific/Africa |  | Consolidated
Balance as of December 31, 2022 | $ | 667.3 |  |  | $ | 86.0 |  |  | $ | 444.3 |  |  | $ | 113.2 |  |  | $ | 1,310.8 |
Foreign currency translation | — |  |  | 3.3 |  |  | 7.4 |  |  | 1.0 |  |  | 11.7 |
Balance as of March 31, 2023 | $ | 667.3 |  |  | $ | 89.3 |  |  | $ | 451.7 |  |  | $ | 114.2 |  |  | $ | 1,322.5 |
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 three months ended March 31, 2023 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, 2022 | $ | 191.8 |  |  | $ | 574.5 |  |  | $ | 150.6 |  |  | $ | 6.5 |  |  | $ | 923.4 |
Foreign currency translation | 1.3 |  |  | 3.3 |  |  | 1.4 |  |  | — |  |  | 6.0 |
Balance as of March 31, 2023 | $ | 193.1 |  |  | $ | 577.8 |  |  | $ | 152.0 |  |  | $ | 6.5 |  |  | $ | 929.4 |
Accumulated amortization: | Trademarks and Tradenames |  | Customer Relationships |  | Patents and Technology |  | Land Use Rights |  | Total
Balance as of December 31, 2022 | $ | 103.3 |  |  | $ | 440.8 |  |  | $ | 101.5 |  |  | $ | 1.6 |  |  | $ | 647.2 |
Amortization expense | 2.5 |  |  | 9.6 |  |  | 2.7 |  |  | — |  |  | 14.8 |
Foreign currency translation | 0.6 |  |  | 3.0 |  |  | 1.0 |  |  | — |  |  | 4.6 |
Balance as of March 31, 2023 | $ | 106.4 |  |  | $ | 453.4 |  |  | $ | 105.2 |  |  | $ | 1.6 |  |  | $ | 666.6 |
Indefinite-lived intangible assets: | Trademarks and Tradenames
Balance as of December 31, 2022 | $ | 84.8 |
Foreign currency translation | 0.6 |
Balance as of March 31, 2023 | $ | 85.4 |
The Company amortizes certain acquired identifiable intangible assets primarily on a straight-line basis over their estimated useful lives, which range from four to 50 years. External-use software, net, developed by the Company and marketed externally, was approximately $5.8 million as of March 31, 2023 and classified within “Intangible assets, net.” Amortization costs of external-use software was approximately $0.8 million as of March 31, 2023 and classified within “Cost of goods sold.”

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