Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.20.2
Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the carrying amount of goodwill by segment
The changes in the carrying amount of goodwill were as follows:
 (dollars in millions) Electronics Industrial & Specialty Total
Balance at December 31, 2019 $ 1,223.4  $ 956.2  (1) $ 2,179.6 
Acquisition (2)
—  6.8  6.8 
Purchase accounting adjustments (3)
(1.6) —  (1.6)
Foreign currency translation 17.7  (12.9) 4.8 
Balance at September 30, 2020 $ 1,239.5  $ 950.1  $ 2,189.6 
(1) Includes accumulated impairment losses of $46.6 million.
(2) On July 1, 2020, the Company completed the DMP Acquisition. which was not material to our Condensed Consolidated Financial Statements, and therefore, the purchase price allocation, pro forma and post-acquisition results of operations have not been presented.     
(3) During the second quarter of 2020, the Company recorded a step-up of fixed assets of $1.4 million for the Kester Acquisition. The impact of this acquisition on the Company's results of operations was not material.
Schedule of finite-lived intangible assets subject to amortization
Intangible assets subject to amortization were as follows:
  September 30, 2020 December 31, 2019
 (dollars in millions) Gross Carrying
Amount
Accumulated
Amortization
Net Book
Value
Gross Carrying
Amount
Accumulated
Amortization
Net Book
Value
Customer relationships $ 957.0  $ (404.8) $ 552.2  $ 959.1  $ (351.4) $ 607.7 
Developed technology 384.4  (225.3) 159.1  380.5  (194.8) 185.7 
Tradenames 89.4  (9.4) 80.0  51.5  (4.9) 46.6 
Other 1.6  (0.8) 0.8  1.6  (1.6) — 
Total $ 1,432.4  $ (640.3) $ 792.1  $ 1,392.7  $ (552.7) $ 840.0