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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of goodwill | The changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 are presented in the table below:
(in Millions) |  |  |  |  | Total
Balance, December 31, 2021 |  |  |  |  | $ | 1,463.3 |
Acquisitions (See Note 4) |  |  |  |  | 130.7 |
Foreign currency and other adjustments |  |  |  |  | (4.7) |
Balance, December 31, 2022 |  |  |  |  | $ | 1,589.3 |
Foreign currency and other adjustments |  |  |  |  | 4.3 |
Balance, December 31, 2023 |  |  |  |  | $ | 1,593.6 |
Schedule of finite-lived intangible assets | Our intangible assets, other than goodwill, consist of the following:
|  | December 31, 2023 |  | December 31, 2022
(in Millions) | Weighted avg. useful life remaining at December 31, 2023 | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Intangible assets subject to amortization (finite life) |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 13 years | $ | 1,136.7 |  |  | $ | (414.2) |  |  | $ | 722.5 |  |  | $ | 1,127.9 |  |  | $ | (351.3) |  |  | $ | 776.6 |
Patents | 4 years | 1.8 |  |  | (1.6) |  |  | 0.2 |  |  | 1.7 |  |  | (1.4) |  |  | 0.3 |
Brands (1) | 9 years | 49.3 |  |  | (12.9) |  |  | 36.4 |  |  | 16.1 |  |  | (10.6) |  |  | 5.5 |
Purchased and licensed technologies | 12 years | 131.1 |  |  | (46.2) |  |  | 84.9 |  |  | 128.4 |  |  | (42.9) |  |  | 85.5 |
Other intangibles | 8 years | 2.3 |  |  | (1.8) |  |  | 0.5 |  |  | 1.8 |  |  | (1.7) |  |  | 0.1 |
|  | $ | 1,321.2 |  |  | $ | (476.7) |  |  | $ | 844.5 |  |  | $ | 1,275.9 |  |  | $ | (407.9) |  |  | $ | 868.0 |
Intangible assets not subject to amortization (indefinite life) |  |  |  |  |  |  |  |  |  |  |  |
Crop Protection Brands (2) |  | $ | 1,259.0 |  |  |  |  | $ | 1,259.0 |  |  | $ | 1,259.0 |  |  |  |  | $ | 1,259.0 |
Brands (1) |  | 350.3 |  |  |  |  | 350.3 |  |  | 370.1 |  |  |  |  | 370.1 |
In-process research and development |  | 11.3 |  |  |  |  | 11.3 |  |  | 11.0 |  |  |  |  | 11.0 |
|  | $ | 1,620.6 |  |  |  |  | $ | 1,620.6 |  |  | $ | 1,640.1 |  |  |  |  | $ | 1,640.1 |
Total intangible assets | $ | 2,941.8 |  |  | $ | (476.7) |  |  | $ | 2,465.1 |  |  | $ | 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.
Schedule of indefinite-lived intangible assets |
Intangible assets not subject to amortization (indefinite life) |  |  |  |  |  |  |  |  |  |  |  |
Crop Protection Brands (2) |  | $ | 1,259.0 |  |  |  |  | $ | 1,259.0 |  |  | $ | 1,259.0 |  |  |  |  | $ | 1,259.0 |
Brands (1) |  | 350.3 |  |  |  |  | 350.3 |  |  | 370.1 |  |  |  |  | 370.1 |
In-process research and development |  | 11.3 |  |  |  |  | 11.3 |  |  | 11.0 |  |  |  |  | 11.0 |
|  | $ | 1,620.6 |  |  |  |  | $ | 1,620.6 |  |  | $ | 1,640.1 |  |  |  |  | $ | 1,640.1 |
Total intangible assets | $ | 2,941.8 |  |  | $ | (476.7) |  |  | $ | 2,465.1 |  |  | $ | 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.
Schedule of amortization expense |
| Year Ended December 31,
(in Millions) | 2023 |  | 2022 |  | 2021
Amortization expense | $ | 64.3 |  |  | $ | 60.6 |  |  | $ | 62.7 |

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