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Acquisitions and Divestitures (Tables) - JBT Aerotech | 6 Months Ended
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Jun. 30, 2024
Business Acquisition [Line Items] |
Summary of Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of acquisition (in millions):
Assets Acquired: |  |  |
Cash and cash equivalents |  | $ | 9.3 |
Accounts receivable |  | $ | 75.0 |
Unbilled receivables |  |  | 57.8 |
Inventories |  |  | 153.7 |
Other current assets |  |  | 7.6 |
Property, plant and equipment |  |  | 44.6 |
Goodwill |  |  | 262.0 |
Purchased intangible assets |  |  | 330.4 |
Other non-current assets |  |  | 7.6 |
Total assets, excluding cash and cash equivalents |  | $ | 938.7 |
Liabilities Assumed: |  |  |
Accounts payable |  | $ | 63.2 |
Customer advances |  |  | 24.8 |
Payroll-related obligations |  |  | 13.8 |
Other current liabilities |  |  | 19.5 |
Deferred income taxes |  |  | 4.5 |
Non-current liabilities |  |  | 8.3 |
Total liabilities |  | $ | 134.1 |
Net assets acquired |  | $ | 804.6 |
Summary of Unaudited Pro forma Financial Information | The following table presents the supplemental consolidated results of the Company on an unaudited pro forma basis as if the acquisition of AeroTech had been completed on January 1, 2022 (in millions).
|  | Three Months Ended June 30, 2023 |  |  | Six Months Ended June 30, 2023 |
Net sales |  | $ | 2,577.4 |  |  | $ | 4,986.8 |
Net income |  |  | 167.6 |  |  |  | 247.2 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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