Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill are presented in the table below:


(in Millions)	Total
Balance, December 31, 2022	$	1,589.3


Foreign currency and other adjustments	2.7
Balance, March 31, 2023	$	1,592.0

There were no events or circumstances indicating that goodwill might be impaired as of March 31, 2023.

Our intangible assets, other than goodwill, consist of the following:


	March 31, 2023						December 31, 2022
(in Millions)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Intangible assets subject to amortization (finite-lived)
Customer relationships	$	1,131.6	$	(366.9)	$	764.7	$	1,127.9	$	(351.3)	$	776.6
Patents	1.7		(1.4)		0.3		1.7		(1.4)		0.3
Brands (1)	49.1		(11.1)		38.0		16.1		(10.6)		5.5
Purchased and licensed technologies	129.5		(44.6)		84.9		128.4		(42.9)		85.5
Other intangibles	2.4		(1.7)		0.7		1.8		(1.7)		0.1
	$	1,314.3	$	(425.7)	$	888.6	$	1,275.9	$	(407.9)	$	868.0


Intangible assets not subject to amortization (indefinite-lived)
Crop Protection Brands (2)	$	1,259.0			$	1,259.0	$	1,259.0			$	1,259.0
Brands (1)	341.3				341.3		370.1				370.1
In-process research & development	11.2				11.2		11.0				11.0
	$	1,611.5			$	1,611.5	$	1,640.1			$	1,640.1
Total intangible assets	$	2,925.8	$	(425.7)	$	2,500.1	$	2,916.0	$	(407.9)	$	2,508.1

____________________

(1) Represents trademarks, trade names and know-how.

(2) Represents proprietary brand portfolios, consisting of trademarks, trade names and know-how, of our crop protection brands.


	Three Months Ended March 31,
(in Millions)	2023		2022
Amortization expense	$	16.0	$	15.4

The full year estimated pre-tax amortization expense for the year ended December 31, 2023 and each of the succeeding five years is approximately $64 million, $63 million, $68 million, $69 million, $69 million, and $70 million, respectively.