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GOODWILL AND INTANGIBLE ASSETS, NET
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The changes in the carrying amount of goodwill by segment were as follows:
 (dollars in millions)ElectronicsIndustrial & SpecialtyTotal
Balance at December 31, 2023$1,298.7 $1,038.0 (1)$2,336.7 
Foreign currency translation and other(21.0)(13.4)(34.4)
Balance at March 31, 2024$1,277.7 $1,024.6 $2,302.3 
(1) Includes accumulated impairment losses of $127 million.
Intangible Assets, Net
The major components of intangible assets, net were as follows:
 March 31, 2024December 31, 2023
 (dollars in millions)Gross Carrying
Amount		Accumulated
Amortization		Net Book
Value		Gross Carrying
Amount		Accumulated
Amortization		Net Book
Value
Customer relationships$960.9 $(511.9)$449.0 $978.4 $(505.9)$472.5 
Developed technology297.2 (213.0)84.2 410.0 (316.2)93.8 
Trade names94.5 (32.3)62.2 95.9 (30.9)65.0 
Reacquired distribution rights187.0 (10.4)176.6 187.0 (7.3)179.7 
Other— — — 0.8 (0.5)0.3 
Indefinite-lived trade name68.0 — 68.0 68.0 — 68.0 
Total$1,607.6 $(767.6)$840.0 $1,740.1 $(860.8)$879.3 
For the three months ended March 31, 2024 and 2023, the Company recorded amortization expense on intangible assets of $30.2 million and $29.6 million, respectively.
In the first quarter of 2024, one of the product qualification milestones agreed to as part of the Kuprion Acquisition was achieved. As a result, the Company made a payment of $3.9 million, which was recognized as research and development expense in the Condensed Consolidated Statement of Operations as the technology did not yet meet the accounting definition of an asset. The payment was included in "Acquisitions, net of cash acquired" in the Condensed Consolidated Statements of Cash Flows as a cash outflow from investing activities.