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Acquisitions and Divestitures (Tables) | 3 Months Ended
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Mar. 31, 2021
Business Combinations and Dispositions [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:
(In thousands) | Total
Current assets, net of cash acquired | $ | 18,500 |
Property, plant and equipment | 4,034 |
Goodwill | 58,980 |
Intangible assets | 46,000 |
Other noncurrent assets | 98 |
Total assets acquired | 127,612 |
Current liabilities | (6,707) |
Deferred income taxes | (14,597) |
Other noncurrent liabilities | (72) |
Net assets acquired | $ | 106,236 |
The final allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:
(In thousands) | Total
Current assets, net of cash acquired | $ | 32,858 |
Property, plant and equipment | 4,166 |
Goodwill | 60,026 |
Intangible assets | 53,000 |
Other noncurrent assets | 1,344 |
Total assets acquired | 151,394 |
Current liabilities | (32,291) |
Deferred income taxes | 2,459 |
Other noncurrent liabilities | (329) |
Net assets acquired (1) | $ | 121,233 |
(1) Subsequent to the first quarter of 2020, the Company obtained additional information about the assets and liabilities acquired that required a net $0.4 million adjustment to the purchase price of the Flow MD business.
Schedule of Finite-Lived Intangible Assets Acquired | The acquired intangible assets and weighted average amortization periods are as follows:
(In thousands, except weighted average life) | Total |  | Weighted Average Life
Trade names | $ | 9,000 |  |  | 15
Customer relationships | 30,000 |  |  | 13
Unpatented technology | 7,000 |  |  | 11
Acquired intangible assets | $ | 46,000 |  |  |
The acquired intangible assets and weighted average amortization periods are as follows:
(In thousands, except weighted average life) | Total |  | Weighted Average Life
Trade names | $ | 6,000 |  |  | 15
Customer relationships | 31,500 |  |  | 10
Unpatented technology | 15,500 |  |  | 20
Acquired intangible assets | $ | 53,000 |  |  |

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- Definition Business Combinations and Dispositions [Abstract] + References No definition available. + Details
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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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://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=121647850&loc=d3e4845-128472 + Details
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