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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2023
Business Combinations [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:
| Total
Current assets, net of cash acquired | $ | 10.6 |
Property, plant and equipment | 19.9 |
Goodwill | 53.6 |
Intangible assets | 45.6 |
Other noncurrent assets | 5.4 |
Total assets acquired | 135.1 |
Current liabilities | (1.2) |
Deferred income taxes | (18.7) |
Other noncurrent liabilities | (4.9) |
Net assets acquired | $ | 110.3 |
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:
| Total
Current assets, net of cash acquired | $ | 16.6 |
Property, plant and equipment | 2.0 |
Goodwill | 54.7 |
Intangible assets | 49.8 |
Other noncurrent assets | 4.3 |
Total assets acquired | 127.4 |
Current liabilities | (9.2) |
Deferred income taxes | (1.9) |
Other noncurrent liabilities | (3.8) |
Net assets acquired | $ | 112.5 |
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:
| Total
Current assets, net of cash acquired | $ | 9.7 |
Property, plant and equipment | 1.8 |
Goodwill | 56.4 |
Intangible assets | 52.0 |
Deferred income taxes | 0.2 |
Other noncurrent assets | 1.0 |
Total assets acquired | 121.1 |
Current liabilities | (1.0) |
Net assets acquired | $ | 120.1 |
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:
| Total
Current assets, net of cash acquired | $ | 52.8 |
Property, plant and equipment | 59.1 |
Goodwill | 393.0 |
Intangible assets | 319.1 |
Other noncurrent assets | 9.6 |
Total assets acquired | 833.6 |
Current liabilities | (25.8) |
Deferred income taxes | (83.9) |
Other noncurrent liabilities | (10.9) |
Net assets acquired | $ | 713.0 |
Schedule of Finite-Lived Intangible Assets Acquired | The acquired intangible assets and weighted average amortization periods are as follows:
| Total |  | Weighted Average Life
Trade names | $ | 5.2 |  |  | 15
Customer relationships | 29.3 |  |  | 12
Unpatented technology | 11.1 |  |  | 11
Acquired intangible assets | $ | 45.6 |  |  |
The acquired intangible assets and weighted average amortization periods are as follows:
| Total |  | Weighted Average Life
Trade names | $ | 13.5 |  |  | 15
Customer relationships | 31.5 |  |  | 10
Software | 4.8 |  |  | 5
Acquired intangible assets | $ | 49.8 |  |  |
The acquired intangible assets and weighted average amortization periods are as follows:
| Total |  | Weighted Average Life
Trade names | $ | 7.5 |  |  | 15
Customer relationships | 36.0 |  |  | 13
Unpatented technology | 8.5 |  |  | 10
Acquired intangible assets | $ | 52.0 |  |  |
The acquired intangible assets and weighted average amortization periods are as follows:
| Total |  | Weighted Average Life
Trade names | $ | 38.3 |  |  | 15
Customer relationships | 212.4 |  |  | 13
Unpatented technology | 68.4 |  |  | 11
Acquired intangible assets | $ | 319.1 |  |  |

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + 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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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