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Acquisitions, Goodwill, and Other Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill by Segment | The following table provides a reconciliation of changes in goodwill by reportable segment for the six month period ended June 30, 2022 (in millions). Goodwill balances as of December 31, 2021 were recast in the first quarter of 2022 to reflect the change in segment reporting for the HMG acquisition, as discussed in Note 1 – Business, Basis of Presentation and Significant Accounting Policies. Goodwill was reallocated based on the estimated relative fair value of the respective HMG reporting units. See Note 13 – Segments and Related Information for additional information.
| Communications |  | Clean Energy and Infrastructure |  | Oil and Gas |  | Power Delivery |  | Total Goodwill |  |
Goodwill, gross, as of December 31, 2021 (a) | $ | 614.5 |  |  | $ | 166.1 |  |  | $ | 561.3 |  |  | $ | 303.4 |  |  | $ | 1,645.3 |  |  |
Accumulated impairment loss (b) | — |  |  |  |  | (124.7) |  |  | — |  |  | (124.7) |  |  |
Goodwill, net, as of December 31, 2021 | $ | 614.5 |  |  | $ | 166.1 |  |  | $ | 436.6 |  |  | $ | 303.4 |  |  | $ | 1,520.6 |  |  |
Additions from new business combinations | 3.0 |  |  | — |  |  | 4.1 |  |  | — |  |  | 7.1 |  |  |
Measurement period adjustments (c) | (12.7) |  |  | 2.1 |  |  | 6.7 |  |  | (38.9) |  |  | (42.8) |  |  |
Currency translation adjustments | — |  |  | — |  |  | (0.3) |  |  | — |  |  | (0.3) |  |  |
Goodwill, net as of June 30, 2022 | $ | 604.8 |  |  | $ | 168.2 |  |  | $ | 447.1 |  |  | $ | 264.5 |  |  | $ | 1,484.6 |  |  |
(a) The change in segment reporting for the HMG acquisition resulted in a decrease in Power Delivery segment goodwill of $23.4 million and an increase in goodwill for the Communications and Oil and Gas segments of $13.0 million and $10.4 million, respectively, as of December 31, 2021. (b) Accumulated impairment losses include the effects of currency translation gains and/or losses. (c) Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.
Schedule of Finite-Lived Intangible Assets | The following table provides a reconciliation of changes in other intangible assets, net, for the period indicated (in millions):
| Other Intangible Assets
| Non-Amortizing |  | Amortizing |  |
| Trade Names |  |  |  | Customer Relationships and Backlog |  | Pre-Qualifications |  | Other (a) |  | Total
Other intangible assets, gross, as of December 31, 2021 | $ | 34.5 |  |  |  |  | $ | 763.1 |  |  | $ | 73.9 |  |  | $ | 124.6 |  |  | $ | 996.1 |
Accumulated amortization |  |  |  |  | (278.0) |  |  | (21.4) |  |  | (26.4) |  |  | (325.8) |
Other intangible assets, net, as of December 31, 2021 | $ | 34.5 |  |  |  |  | $ | 485.1 |  |  | $ | 52.5 |  |  | $ | 98.2 |  |  | $ | 670.3 |
Additions from new business combinations | — |  |  |  |  | 2.1 |  |  | — |  |  | 0.7 |  |  | 2.8 |
Measurement period adjustments (b) | — |  |  |  |  | 55.8 |  |  | — |  |  | (10.1) |  |  | 45.7 |
Currency translation adjustments | — |  |  |  |  | — |  |  | (0.5) |  |  | — |  |  | (0.5) |
Amortization expense |  |  |  |  | (42.8) |  |  | (4.4) |  |  | (6.1) |  |  | (53.3) |
Other intangible assets, net, as of June 30, 2022 | $ | 34.5 |  |  |  |  | $ | 500.2 |  |  | $ | 47.6 |  |  | $ | 82.7 |  |  | $ | 665.0 |
(a)Consists principally of trademarks, trade names and non-compete agreements. (b)Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of consideration paid and net assets acquired for the 2021 acquisitions, as adjusted (in millions):
Acquisition consideration(a): | HMG | All other | Total
Cash, net of cash acquired | $ | 402.4 |  | $ | 867.3 |  | $ | 1,269.7 |
Shares transferred | 181.7 |  | — |  | 181.7 |
Estimated fair value of contingent consideration | — |  | 102.9 |  | 102.9 |
Total consideration | $ | 584.1 |  | $ | 970.2 |  | $ | 1,554.3 |
Identifiable assets acquired and liabilities assumed: |  |  |
Accounts receivable and contract assets | $ | 409.5 |  | $ | 271.2 |  | $ | 680.7 |
Current assets | 14.6 |  | 26.7 |  | 41.3 |
Property and equipment | 252.4 |  | 250.6 |  | 503.0 |
Long-term assets, primarily operating lease right-of-use assets | 85.1 |  | 81.8 |  | 166.9 |
Amortizing intangible assets | 164.6 |  | 444.2 |  | 608.8 |
Accounts payable | (108.0) |  | (49.3) |  | (157.3) |
Current liabilities, including current portion of operating lease liabilities | (151.2) |  | (136.7) |  | (287.9) |
Long-term debt, including finance lease obligations | (0.2) |  | (4.4) |  | (4.6) |
Long-term liabilities, primarily operating lease liabilities and deferred income taxes | (151.0) |  | (76.5) |  | (227.5) |
Total identifiable net assets | $ | 515.8 |  | $ | 807.6 |  | $ | 1,323.4 |
Goodwill | 68.3 |  | 166.2 |  | 234.5 |
Total net assets acquired, including goodwill | $ | 584.1 |  | $ | 973.8 |  | $ | 1,557.9 |
Bargain purchase gain | — |  | (3.6) |  | (3.6) |
Total consideration | $ | 584.1 |  | $ | 970.2 |  | $ | 1,554.3 |
(a) Acquisition consideration in the table above excludes approximately $65 million of measurement period adjustments for estimated payments that will be made to the sellers of HMG if certain acquired receivables are collected. Given the pass-through nature of these contingent payments, they have been excluded from total consideration and current assets in the table above. See below for related discussion.

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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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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