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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes in Goodwill | Changes in goodwill during the years ended December 31, 2022 and 2021, were as follows:
(In thousands) | 2022 |  | 2021
Balance at January 1, 2022 | $ | 636,858 |  |  | $ | 443,272 |
Additions | — |  |  | 199,454 |
Measurement period adjustment | (1,041) |  |  | — |
Currency translation | (15,195) |  |  | (5,868) |
Balance at December 31. 2022 | $ | 620,622 |  |  | $ | 636,858 |
Schedule of Finite-Lived Intangible Assets | Changes in intangible assets, net of accumulated amortization, during the years ended December 31, 2022 and 2021, were as follows:
(In thousands) | 2022 |  | 2021
Net balance at January 1, 2022 | $ | 306,948 |  |  | $ | 161,051 |
Additions | — |  |  | 164,426 |
Amortization expense | (19,137) |  |  | (16,814) |
Currency translation | (5,958) |  |  | (1,715) |
Net balance at December 31, 2022 | $ | 281,853 |  |  | $ | 306,948 |
(In millions) |  | December 31, 2022 |  | December 31, 2021
Intangible Assets: | Weighted Average Useful Life (years) | Gross Carrying Amount |  | Accumulated Amortization and Reserves |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization and Reserves |  | Net Carrying Amount
Customer relationships | 19 | $ | 178.7 |  |  | $ | (35.3) |  |  | $ | 143.4 |  |  | $ | 185.7 |  |  | $ | (27.9) |  |  | $ | 157.8 |
Distribution agreements | 20 | 65.8 |  |  | (26.9) |  |  | 38.9 |  |  | 66.1 |  |  | (23.8) |  |  | 42.3 |
Technology related assets | 8 | 49.5 |  |  | (29.3) |  |  | 20.2 |  |  | 50.4 |  |  | (25.5) |  |  | 24.9 |
Patents, trademarks and copyrights | 16 | 34.0 |  |  | (14.8) |  |  | 19.2 |  |  | 35.2 |  |  | (13.6) |  |  | 21.6 |
License agreements | 5 | 5.4 |  |  | (5.3) |  |  | 0.1 |  |  | 5.4 |  |  | (5.3) |  |  | 0.1 |
Other | 3 | 3.3 |  |  | (3.2) |  |  | 0.1 |  |  | 3.3 |  |  | (3.0) |  |  | 0.3 |
Total | 17 | $ | 336.7 |  |  | $ | (114.8) |  |  | $ | 221.9 |  |  | $ | 346.1 |  |  | $ | (99.1) |  |  | $ | 247.0 |
Schedule of Indefinite-Lived Intangible Assets | Changes in intangible assets, net of accumulated amortization, during the years ended December 31, 2022 and 2021, were as follows:
(In thousands) | 2022 |  | 2021
Net balance at January 1, 2022 | $ | 306,948 |  |  | $ | 161,051 |
Additions | — |  |  | 164,426 |
Amortization expense | (19,137) |  |  | (16,814) |
Currency translation | (5,958) |  |  | (1,715) |
Net balance at December 31, 2022 | $ | 281,853 |  |  | $ | 306,948 |
(In millions) |  | December 31, 2022 |  | December 31, 2021
Intangible Assets: | Weighted Average Useful Life (years) | Gross Carrying Amount |  | Accumulated Amortization and Reserves |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization and Reserves |  | Net Carrying Amount
Customer relationships | 19 | $ | 178.7 |  |  | $ | (35.3) |  |  | $ | 143.4 |  |  | $ | 185.7 |  |  | $ | (27.9) |  |  | $ | 157.8 |
Distribution agreements | 20 | 65.8 |  |  | (26.9) |  |  | 38.9 |  |  | 66.1 |  |  | (23.8) |  |  | 42.3 |
Technology related assets | 8 | 49.5 |  |  | (29.3) |  |  | 20.2 |  |  | 50.4 |  |  | (25.5) |  |  | 24.9 |
Patents, trademarks and copyrights | 16 | 34.0 |  |  | (14.8) |  |  | 19.2 |  |  | 35.2 |  |  | (13.6) |  |  | 21.6 |
License agreements | 5 | 5.4 |  |  | (5.3) |  |  | 0.1 |  |  | 5.4 |  |  | (5.3) |  |  | 0.1 |
Other | 3 | 3.3 |  |  | (3.2) |  |  | 0.1 |  |  | 3.3 |  |  | (3.0) |  |  | 0.3 |
Total | 17 | $ | 336.7 |  |  | $ | (114.8) |  |  | $ | 221.9 |  |  | $ | 346.1 |  |  | $ | (99.1) |  |  | $ | 247.0 |

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