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Acquisitions | 3 Months Ended
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Mar. 31, 2020
Acquisitions |
Acquisitions | Note 11—Acquisitions ​ During the first three months of 2020, the Company completed one acquisition, which is included in the Interconnect Products and Assemblies segment, for approximately $16.5, net of cash acquired. The Company is in the process of completing its analyses of the fair value of the assets acquired and liabilities assumed. The Company anticipates that the final assessments of values will not differ materially from the preliminary assessments. Pro forma financial information related to this acquisition has not been presented, since the acquisition was not material to the Company’s financial results. ​ During 2019, the Company completed nine acquisitions for $937.4, net of cash acquired. All but one of the acquisitions were included in the Interconnect Products and Assemblies segment. For those 2019 acquisitions whose acquisition accounting has not yet been completed, the Company is in the process of completing its analyses of the fair value of the assets acquired and liabilities assumed. The Company anticipates that the final assessments of values will not differ materially from the preliminary assessments. Pro forma financial information related to these acquisitions has not been presented, since these acquisitions were not material, either individually or in the aggregate, to the Company’s financial results. While the acquisition was not material to the Company, our January 2019 acquisition of SSI Controls Technologies (“SSI”), the sensor manufacturing division of SSI Technologies, Inc., for approximately $397, net of cash acquired, included a performance-related contingent payment. The contingent consideration payment is based on certain 2019 revenue and profitability levels of SSI. The Company determined the fair value of this liability using Level 3 unobservable inputs, such as probability weighted payout projections, and is classified as Level 3 in the fair value hierarchy (Note 5). The calculation of the contingent consideration was finalized in the first quarter of 2020 as $75.0, based on actual financial data used for inputs. The consideration is payable in the second quarter of 2020 and is recorded in Other accrued expenses on the accompanying Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019. ​ During the three months ended March 31, 2019, the Company incurred approximately $16.5 ($13.2 after-tax) of acquisition-related expenses, primarily comprised of the amortization of $12.5 related to the value associated with acquired backlog (related to the SSI acquisition), with the remainder representing external transaction costs. Such acquisition-related expenses are separately presented in the accompanying Condensed Consolidated Statements of Income.

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