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Acquisition (Tables) | 3 Months Ended
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Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following is the preliminary purchase price allocation of assets acquired and liabilities assumed related to the Acquisition:
|  | Preliminary Allocation |  |  |  |
Accounts receivable |  | $ | 87.7 |  |  |  |  |
Inventories |  | 50.1 |  |  |  |  |
Other current assets |  | 15.7 |  |  |  |  |
Property, plant and equipment |  | 87.1 |  |  |  |  |
Goodwill |  | 748.2 |  |  |  |  |
Other intangible assets |  | 1,004.2 |  |  |  |  |
Other assets |  | 10.4 |  |  |  |  |
Accounts payable |  | 33.9 |  |  |  |  |
Accrued expenses and other liabilities |  | 50.0 |  |  |  |  |
Deferred income taxes |  | 129.8 |  |  |  |  |
Other long-term liabilities |  | 24.3 |  |  |  |  |
Net assets acquired and liabilities assumed |  | $ | 1,765.4 |  |  |  |  |
Schedule of Definite-Lived Intangible Assets Acquired as Part of Business Combination | The following table represents the definite lived intangible assets acquired, the preliminary fair values and respective useful lives:
|  | Useful Life |  | Preliminary Fair Value
Customer relationships |  | 15 to 16 years |  | $ | 731.6 |
Developed technology |  | 13 years |  | 180.7 |
Trademarks |  | 15 to 16 years |  | 52.3 |
Backlog |  | 1 year |  | 39.6 |
Total intangible assets |  |  |  | $ | 1,004.2 |
Schedule of Pro Forma Information | The following pro forma results include adjustments to reflect acquisition related costs, additional interest expense and amortization of debt issuance costs, accounting policies applied to E&I after the business combination, amortization of intangibles associated with the acquisition and the effects of adjustments made to the carrying value of certain assets.
Unaudited proforma information |  |  |  | Three months ended March 31, 2021
Net sales |  |  |  | $ | 1,192.8 |
Net income (loss) |  |  |  | 23.9 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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