Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill
The changes in the carrying amount of goodwill were as follows:
 (dollars in millions) Electronics    Industrial & Specialty    Total   
Balance at December 31, 2018 $ 1,226.7    $ 955.9    (1)   $ 2,182.6   
Foreign currency translation (32.7)   (24.1)   (56.8)  
Balance at September 30, 2019 $ 1,194.0    $ 931.8    (1)   $ 2,125.8   
(1) Includes accumulated impairment losses of $46.6 million.
Indefinite-Lived Intangible Assets
The carrying value of indefinite-lived intangible assets other than goodwill, which consisted solely of tradenames, was $104 million and $150 million at September 30, 2019 and December 31, 2018, respectively.
During the first quarter of 2019, the Company determined that the useful life of one of its tradenames no longer met the criteria of an indefinite-lived asset and concluded no indication of impairment. Subsequently, the Company started amortizing this tradename over 15 years, consistent with other similar finite-lived assets.
Finite-Lived Intangible Assets
Intangible assets subject to amortization were as follows:
  September 30, 2019 December 31, 2018
 (dollars in millions) Gross Carrying
Amount 
  Accumulated
Amortization 
  Net Book
Value 
  Gross Carrying
Amount 
  Accumulated
Amortization 
  Net Book
Value 
 
Customer lists $ 903.5    $ (326.6)   $ 576.9    $ 927.8    $ (283.2)   $ 644.6   
Developed technology 372.3    (180.9)   191.4    381.3    (155.6)   225.7   
Tradenames 49.6    (4.0)   45.6    5.9    (1.6)   4.3   
Non-compete agreements 1.5    (1.4)   0.1    1.5    (1.3)   0.2   
Total $ 1,326.9    $ (512.9)   $ 814.0    $ 1,316.5    $ (441.7)   $ 874.8   
For the three months ended September 30, 2019 and 2018, the Company recorded amortization expense on intangible assets of $28.1 million and $27.8 million, respectively. For the nine months ended September 30, 2019 and 2018, the Company recorded amortization expense on intangible assets of $84.9 million and $84.7 million, respectively.