FRANKLIN ELECTRIC CO INC
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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Goodwill and Other Intangible Assets
- GOODWILL AND OTHER INTANGIBLE ASSETS
The carrying amounts of the Company’s intangible assets, excluding goodwill, are as follows:
| (In millions) | 2025 | 2024 | ||
|---|---|---|---|---|
| Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | |
| Amortizing intangibles: | ||||
| Customer relationships | $309.5 | $(149.7) | $263.4 | $(128.8) |
| Patents | 7.4 | (7.4) | 7.2 | (7.2) |
| Technology | 10.5 | (7.8) | 7.5 | (7.5) |
| Trade names | 58.6 | (11.6) | 44.5 | (8.1) |
| Other | 3.1 | (2.5) | 2.8 | (2.4) |
| Total | $389.1 | $(179.0) | $325.4 | $(154.0) |
| Non-amortizing intangibles: | ||||
| Trade names | 41.6 | — | 41.6 | — |
| Total intangibles | $430.7 | $(179.0) | $367.0 | $(154.0) |
Amortization expense related to intangible assets for the years ended December 31, 2025, 2024, and 2023, was $23.6 million, $18.8 million, and $17.1 million, respectively.
Amortization expense for each of the five succeeding years is projected as follows:
| (In millions) · 2026 · 2027 · 2028 · 2029 · 2030 | ||||
|---|---|---|---|---|
| $24.0 | $22.5 | $21.9 | $20.9 | $20.3 |
The change in the carrying amount of goodwill by reportable segment for 2025 and 2024, is as follows:
| (In millions) | Water Systems | Energy Systems | Distribution | Consolidated |
|---|---|---|---|---|
| Balance as of December 31, 2023 | $221.4 | $70.4 | $50.6 | $342.4 |
| Acquisitions | 0.8 | — | — | 0.8 |
| Adjustments to prior year acquisitions | (1.0) | — | — | (1.0) |
| Foreign currency translation | (3.6) | (0.1) | — | (3.7) |
| Balance as of December 31, 2024 | $217.6 | $70.3 | $50.6 | $338.5 |
| Acquisitions | 55.2 | — | — | 55.2 |
| Adjustments to prior year acquisitions | 0.1 | — | — | 0.1 |
| Foreign currency translation | 4.1 | 0.2 | — | 4.3 |
| Balance as of December 31, 2025 | $277.0 | $70.5 | 50.6 | $398.1 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.