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v3.19.3.a.u2

Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2019
Accella |
Acquisitions |
Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities | The following table summarizes the consideration transferred to acquire Accella and the allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill.
|  | Preliminary Allocation |  | Measurement Period Adjustments |  | Final Allocation |  |  |  |
(in millions) |  | As of 11/1/2017 |  |  |  | As of 11/1/2018 |  |  |  |
Total cash consideration transferred |  | $ | 670.7 |  |  | $ | 0.7 |  |  | $ | 671.4 |  |  |  |  |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 16.5 |  |  | $ | — |  |  | $ | 16.5 |  |  |  |  |
Receivables, net |  | 66.8 |  |  | — |  |  | 66.8 |  |  |  |  |
Inventories |  | 48.5 |  |  | (1.0) |  |  | 47.5 |  |  |  |  |
Prepaid expenses and other current assets |  | 0.9 |  |  | — |  |  | 0.9 |  |  |  |  |
Property, plant and equipment |  | 59.6 |  |  | 3.2 |  |  | 62.8 |  |  |  |  |
Definite-lived intangible assets |  | 240.0 |  |  | (1.0) |  |  | 239.0 |  |  |  |  |
Other long-term assets |  | 15.6 |  |  | — |  |  | 15.6 |  |  |  |  |
Accounts payable |  | (45.5) |  |  | — |  |  | (45.5) |  |  |  |  |
Income tax payable |  | 2.0 |  |  | — |  |  | 2.0 |  |  |  |  |
Accrued expenses |  | (23.2) |  |  | 9.5 |  |  | (13.7) |  |  |  |  |
Other long-term liabilities |  | (15.6) |  |  | — |  |  | (15.6) |  |  |  |  |
Deferred income taxes |  | (83.5) |  |  | 2.0 |  |  | (81.5) |  |  |  |  |
Total identifiable net assets |  | 282.1 |  |  | 12.7 |  |  | 294.8 |  |  |  |  |
Goodwill |  | $ | 388.6 |  |  | $ | (12.0) |  |  | $ | 376.6 |  |  |  |  |
Schedule of unaudited combined pro forma financial information | The unaudited combined pro forma financial information presented below includes revenues and income from continuing operations, net of tax, of the Company as if the business combination had occurred on January 1, 2016, based on the purchase price allocation presented below:
(in millions) |  | Unaudited Pro Forma Twelve Months Ended December 31, 2017
Revenues |  | $ | 4,439.4 |
Income from continuing operations |  | 351.8 |
Providien |
Acquisitions |
Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities | The following table summarizes the consideration transferred to acquire Providien and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation studies.
|  | Preliminary Allocation |  |  |  |
(in millions) |  | As of 11/20/2019 |  |  |  |
Total cash consideration transferred |  | $ | 332.1 |  |  |  |  |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |  |  |
Cash and cash equivalents |  | 3.4 |  |  |  |  |
Receivables, net |  | 38.9 |  |  |  |  |
Inventories, net |  | 2.7 |  |  |  |  |
Prepaid expenses and other current assets |  | 2.3 |  |  |  |  |
Property, plant and equipment |  | 12.9 |  |  |  |  |
Definite-lived intangible assets |  | 135.4 |  |  |  |  |
Other long-term assets |  | 7.1 |  |  |  |  |
Accounts payable |  | (6.0) |  |  |  |  |
Income tax payable |  | (0.7) |  |  |  |  |
Accrued and other current liabilities |  | (7.0) |  |  |  |  |
Other long-term liabilities |  | (8.1) |  |  |  |  |
Deferred income taxes |  | (27.1) |  |  |  |  |
Total identifiable net assets |  | 153.8 |  |  |  |  |
Goodwill |  | $ | 178.3 |  |  |  |  |
Petersen Aluminum |
Acquisitions |
Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities | The following table summarizes the consideration transferred to acquire Petersen and the allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill.
|  | Preliminary Allocation |  | Measurement Period Adjustments |  | Final Allocation
(in millions) |  | As of 1/11/2019 |  |  |  | 12/31/2019
Total cash consideration transferred |  | $ | 207.2 |  |  | $ | — |  |  | $ | 207.2 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |  |  |
Cash and cash equivalents |  | 5.2 |  |  | — |  |  | 5.2 |
Receivables, net |  | 11.5 |  |  | — |  |  | 11.5 |
Inventories, net |  | 39.5 |  |  | (0.3) |  |  | 39.2 |
Prepaid expenses and other current assets |  | 2.1 |  |  | — |  |  | 2.1 |
Property, plant and equipment |  | 17.8 |  |  | — |  |  | 17.8 |
Definite-lived intangible assets |  | 109.3 |  |  | 0.8 |  |  | 110.1 |
Other long-term assets |  | 9.5 |  |  | — |  |  | 9.5 |
Accounts payable |  | (5.9) |  |  | — |  |  | (5.9) |
Income tax payable |  | 1.7 |  |  | — |  |  | 1.7 |
Accrued and other current liabilities |  | (8.7) |  |  | — |  |  | (8.7) |
Other long-term liabilities |  | (12.4) |  |  | (0.1) |  |  | (12.5) |
Deferred income taxes |  | (25.4) |  |  | (0.2) |  |  | (25.6) |
Total identifiable net assets |  | 144.2 |  |  | 0.2 |  |  | 144.4 |
Goodwill |  | $ | 63.0 |  |  | $ | (0.2) |  |  | $ | 62.8 |

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