Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table represents the changes in goodwill by segment:


	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Consolidated
Balance at December 31, 2025	$	228.3	$	482.3	$	583.5	$	1,773.5	$	3,067.6
Goodwill acquired during the period (1)	12.2		—		0.9		3.0		16.1
Foreign currency translation adjustments and other	1.4		0.4		(0.9)		(22.8)		(21.9)
Balance at March 31, 2026	$	241.9	$	482.7	$	583.5	$	1,753.7	$	3,061.8

Accumulated goodwill impairment loss at December 31, 2025	$	23.5	$	49.3	$	35.8	$	20.4	$	129.0

Accumulated goodwill impairment loss at March 31, 2026	$	23.5	$	49.3	$	35.8	$	20.4	$	129.0

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(1)Goodwill acquired during the period primarily relates to the acquisition of Cryotek Holding B.V. (“Cryonorm”), a leading provider of cryogenic engineered systems, equipment and associated services, which we acquired for approximately $28.0 in cash (subject to certain customary adjustments), net of $5.2 of cash acquired. The financial results of Cryonorm are included in our condensed consolidated financial statements from the date of acquisition. The Cryonorm acquisition was not material to our condensed consolidated financial statements.

Intangible Assets

The following table displays the gross carrying amount and accumulated amortization for finite-lived intangible assets and indefinite-lived intangible assets (exclusive of goodwill) (1):


		March 31, 2026				December 31, 2025
	Estimated Useful Lives	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Customer relationships	4 to 18 years	$	1,859.8	$	(424.6)	$	1,868.6	$	(399.7)
Technology	5 to 18 years	519.2		(166.9)		523.6		(161.0)
Patents, backlog and other	2 to 10 years	144.7		(138.2)		145.5		(130.2)
Trademarks and trade names	5 to 23 years	2.7		(1.3)		1.8		(1.3)
Land use rights	50 years	10.5		(2.4)		10.3		(2.3)
Total finite-lived intangible assets		$	2,536.9	$	(733.4)	$	2,549.8	$	(694.5)
Indefinite-lived intangible assets:
Trademarks and trade names (2)		647.4		—		656.4		—
Total intangible assets		$	3,184.3	$	(733.4)	$	3,206.2	$	(694.5)

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(1)Amounts include the impact of foreign currency translation. Fully amortized or impaired amounts are written off.

(2)Accumulated indefinite-lived intangible assets impairment loss was $16.0 at both March 31, 2026 and December 31, 2025.

Amortization expense for intangible assets subject to amortization was $46.8 and $46.5 for the three months ended March 31, 2026 and 2025, respectively