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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] |
Goodwill and Other Intangible Assets | Note 9 - Goodwill and Other Intangible Assets The Company tests goodwill and indefinite-lived intangible assets for impairment at least annually, performing its annual impairment test as of October 1 st. Goodwill and indefinite-lived intangible assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The Company reviews goodwill for impairment at the reporting unit level. The Engineered Bearings segment has one reporting unit and the Industrial Motion segment has six reporting units. The changes in the carrying amount of goodwill for the six months ended June 30, 2026 were as follows:
| Engineered Bearings | Industrial Motion |  | Total
Beginning balance, January 1 | $ | 703.9 |  | $ | 782.5 |  |  | $ | 1,486.4 |
Acquisitions | — |  | 52.0 |  |  | 52.0 |
Foreign currency translation adjustments and other changes | (4.0) |  | (17.3) |  |  | (21.3) |
Ending balance | $ | 699.9 |  | $ | 817.2 |  |  | $ | 1,517.1 |
The acquisition of Bijur Delimon added goodwill of $52.0 million in 2026. Goodwill arising from this acquisition is attributed to the expected synergies, including future cost savings, and other benefits expected to be generated by combining the companies. The Company is still evaluating the tax deductibility of goodwill from the Bijur Delimon acquisition, but it expects goodwill to be deductible for tax purposes in the U.S. The following table displays intangible assets as of June 30, 2026 and December 31, 2025:
| Balance at June 30, 2026 | Balance at December 31, 2025
| Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount
Intangible assets subject to amortization: |  |  |  |  |  |
Customer relationships | $ | 828.2 |  | $ | (319.1) |  | $ | 509.1 |  | $ | 863.0 |  | $ | (321.9) |  | $ | 541.1 |
Technology and know-how | 383.2 |  | (154.2) |  | 229.0 |  | 392.3 |  | (152.6) |  | 239.7 |
Trade names | 157.6 |  | (25.9) |  | 131.7 |  | 116.6 |  | (23.6) |  | 93.0 |
Capitalized software | 309.6 |  | (285.7) |  | 23.9 |  | 312.0 |  | (284.9) |  | 27.1 |
Other | 2.4 |  | (1.9) |  | 0.5 |  | 2.5 |  | (1.7) |  | 0.8 |
| $ | 1,681.0 |  | $ | (786.8) |  | $ | 894.2 |  | $ | 1,686.4 |  | $ | (784.7) |  | $ | 901.7 |
Intangible assets not subject to amortization: |  |  |  |  |  |
Trade names | $ | 53.0 |  |  | $ | 53.0 |  | $ | 91.9 |  |  | $ | 91.9 |
FAA air agency certificates | 8.7 |  |  | 8.7 |  | 8.7 |  |  | 8.7 |
| $ | 61.7 |  |  | $ | 61.7 |  | $ | 100.6 |  |  | $ | 100.6 |
Total intangible assets | $ | 1,742.7 |  | $ | (786.8) |  | $ | 955.9 |  | $ | 1,787.0 |  | $ | (784.7) |  | $ | 1,002.3 |
Amortization expense for intangible assets was $45.5 million and $42.9 million for the six months ended June 30, 2026 and 2025, respectively. Amortization expense for intangible assets is projected to be approximately $88 million in 2026; $85 million in 2027; $82 million in 2028; $79 million in 2029; and $77 million in 2030.

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- Definition The entire disclosure for intangible asset and goodwill. Includes, but is not limited to, finite- and indefinite-lived intangible assets, capitalized cost for internal-use software and software to be sold, leased, or marketed. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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