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Acquisitions and Divestitures (Tables) | 9 Months Ended
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Sep. 30, 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 | $ | 18,419 |
Property, plant and equipment | 4,034 |
Goodwill | 59,481 |
Intangible assets | 46,000 |
Other noncurrent assets | 123 |
Total assets acquired | 128,057 |
Current liabilities | (7,100) |
Deferred income taxes | (14,537) |
Other noncurrent liabilities | (84) |
Net assets acquired | $ | 106,336 |
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 | $ | 44,152 |
Property, plant and equipment | 4,803 |
Goodwill | 271,268 |
Intangible assets | 201,300 |
Other noncurrent assets | 10,136 |
Total assets acquired | 531,659 |
Current liabilities | (10,065) |
Deferred income taxes | (42,141) |
Other noncurrent liabilities | (8,436) |
Net assets acquired(1) | $ | 471,017 |
(1) Subsequent to June 30, 2021, the Company finalized its working capital adjustment for the acquisition of the Airtech business, resulting in a $1.7 million adjustment to the purchase price. This amount was accrued as of September 30, 2021 and was paid in October 2021. 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 September 30, 2020, the Company obtained additional information about the assets and liabilities acquired that required a $3.1 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 | $ | 15,400 |  |  | 15
Customer relationships | 161,900 |  |  | 13
Unpatented technology | 24,000 |  |  | 11
Acquired intangible assets | $ | 201,300 |  |  |
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=123413009&loc=d3e4845-128472 + Details
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