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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Dec. 31, 2016
Business Combinations and Dispositions [Abstract] |
Schedule of Allocation of Acquisition Costs To Assets Acquired and Liabilities Assumed | The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values at their respective acquisition dates, is as follows:
| Novotema |  | Alfa Valvole |  | CPS |  | Other |  | Total
(In thousands) |  |  |  |  |  |  |  |  |
Accounts receivable | $ | 8,029 |  |  | $ | 13,487 |  |  | $ | 945 |  |  | $ | — |  |  | $ | 22,461 |
Inventory | 2,886 |  |  | 11,036 |  |  | 442 |  |  | 1,102 |  |  | 15,466 |
Other assets, net of cash acquired | 1,866 |  |  | 3,367 |  |  | 79 |  |  | — |  |  | 5,312 |
Property, plant and equipment | 11,844 |  |  | 8,395 |  |  | 1,105 |  |  | — |  |  | 21,344 |
Goodwill | 34,316 |  |  | 69,568 |  |  | 9,739 |  |  | 748 |  |  | 114,371 |
Intangible assets | 20,011 |  |  | 32,058 |  |  | 12,290 |  |  | — |  |  | 64,359 |
Total assets acquired | 78,952 |  |  | 137,911 |  |  | 24,600 |  |  | 1,850 |  |  | 243,313 |
Current liabilities | (7,760 | ) |  | (11,279 | ) |  | (420 | ) |  | — |  |  | (19,459 | )
Deferred income taxes | (7,803 | ) |  | (12,622 | ) |  | — |  |  | — |  |  | (20,425 | )
Other noncurrent liabilities | (2,291 | ) |  | (1,420 | ) |  | — |  |  | — |  |  | (3,711 | )
Net assets acquired | $ | 61,098 |  |  | $ | 112,590 |  |  | $ | 24,180 |  |  | $ | 1,850 |  |  | $ | 199,718 |
The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:
(In thousands) |
Accounts receivable | $ | 1,147 |
Inventory | 6,230 |
Other current assets, net of cash acquired | 232 |
Property, plant and equipment | 2,988 |
Goodwill | 7,711 |
Intangible assets | 8,770 |
Total assets acquired | 27,078 |
Total liabilities assumed | (1,633 | )
Net assets acquired | $ | 25,445 |
The preliminary allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values at their respective acquisition dates, are as follows:
|  | Akron Brass |  | AWG Fittings |  | SFC Koenig |  | Total
(In thousands) |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 14,523 |  |  | $ | 5,952 |  |  | $ | 9,425 |  |  | $ | 29,900 |
Inventory |  | 29,157 |  |  | 11,766 |  |  | 21,247 |  |  | 62,170 |
Other assets, net of cash acquired |  | 446 |  |  | 565 |  |  | 4,501 |  |  | 5,512 |
Property, plant and equipment |  | 12,195 |  |  | 6,847 |  |  | 5,125 |  |  | 24,167 |
Goodwill |  | 124,643 |  |  | 22,031 |  |  | 143,719 |  |  | 290,393 |
Intangible assets |  | 90,400 |  |  | 10,279 |  |  | 116,998 |  |  | 217,677 |
Deferred income taxes |  | — |  |  | 3,515 |  |  | — |  |  | 3,515 |
Total assets acquired |  | 271,364 |  |  | 60,955 |  |  | 301,015 |  |  | 633,334 |
Current liabilities |  | (7,081 | ) |  | (5,017 | ) |  | (10,088 | ) |  | (22,186 | )
Deferred income taxes |  | (36,439 | ) |  | — |  |  | (41,370 | ) |  | (77,809 | )
Other noncurrent liabilities |  | (6,445 | ) |  | (8,444 | ) |  | (8,449 | ) |  | (23,338 | )
Net assets acquired |  | $ | 221,399 |  |  | $ | 47,494 |  |  | $ | 241,108 |  |  | $ | 510,001 |
Acquired Intangible Assets and Weighted Average Amortization Periods | The acquired intangible assets and weighted average amortization periods are as follows:
(In thousands, except weighted average life) | Total |  | Weighted Average Life
Trade names | $ | 3,304 |  |  | 15
Customer relationships | 4,393 |  |  | 14
Unpatented technology | 1,073 |  |  | 8
Total acquired intangible assets | $ | 8,770 |  |  |
The acquired intangible assets and weighted average amortization periods are as follows:
(In thousands, except weighted average life) | Total |  | Weighted Average Life
Trade names | $ | 9,247 |  |  | 15
Customer relationships | 44,401 |  |  | 12
Unpatented technology | 10,711 |  |  | 8
Total acquired intangible assets | $ | 64,359 |  |  |
The acquired intangible assets and weighted average amortization periods are as follows:
(In thousands, except weighted average life) | Total |  | Weighted Average Life
Trade names | $ | 14,078 |  |  | 15
Customer relationships | 134,519 |  |  | 13
Unpatented technology | 40,280 |  |  | 13
Amortized intangible assets | 188,877 |  |  |
Indefinite lived - Akron Brass trade name | 28,800 |  |  |
Total acquired intangible assets | $ | 217,677 |  |  |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
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