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Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

As of December 31, 2024, 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			$	87.2
Property, plant and equipment			53.7
Goodwill			483.6
Intangible assets			412.8
Other noncurrent assets			14.7
Total assets acquired			1,052.0
Current liabilities			(45.4)
Deferred income taxes			(9.2)
Other noncurrent liabilities			(11.2)
Net assets acquired			$	986.2

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			$	10.6
Property, plant and equipment			19.4
Goodwill			54.2
Intangible assets			44.1
Other noncurrent assets			5.4
Total assets acquired			133.7
Current liabilities			(1.2)
Deferred income taxes			(17.8)
Other noncurrent liabilities			(4.9)
Net assets acquired			$	109.8

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			$	16.7
Property, plant and equipment			12.1
Goodwill			104.3
Intangible assets			92.3
Other noncurrent assets			3.0
Total assets acquired			228.4
Current liabilities			(5.5)
Deferred income taxes			(19.8)
Other noncurrent liabilities			(2.7)
Net assets acquired(1)			$	200.4

(1) During the first quarter of 2024, the Company finalized the purchase price of STC, resulting in a $1.6 million downward adjustment to the purchase price of the STC business.

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 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			$	51.4
Property, plant and equipment			57.6
Goodwill			396.6
Intangible assets			319.1
Other noncurrent assets			9.6
Total assets acquired			834.3
Current liabilities			(26.8)
Deferred income taxes			(83.5)
Other noncurrent liabilities			(11.0)
Net assets acquired			$	713.0

Schedule of Finite-Lived Intangible Assets Acquired

Acquired intangible assets consist of trade names, customer relationships and unpatented technology. The acquired intangible assets and weighted average amortization periods are as follows:

			Total						Weighted Average Life (in years)
Trade names			$	42.0					15
Customer relationships			269.0						14
Unpatented technology			101.8						13
Acquired intangible assets			$	412.8

The acquired intangible assets and weighted average amortization periods are as follows:

			Total						Weighted Average Life (in years)
Trade names			$	5.2					15
Customer relationships			27.8						12
Unpatented technology			11.1						11
Acquired intangible assets			$	44.1

The acquired intangible assets and weighted average amortization periods are as follows:

			Total						Weighted Average Life (in years)
Trade names			$	9.3					15
Customer relationships			63.0						15
Unpatented technology			20.0						11
Acquired intangible assets			$	92.3

The acquired intangible assets and weighted average amortization periods are as follows:

			Total						Weighted Average Life (in years)
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 (in years)
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 (in years)
Trade names			$	38.3					15
Customer relationships			212.4						13
Unpatented technology			68.4						11
Acquired intangible assets			$	319.1

Schedule of Business Acquisitions-Related cost and the Fair value Inventory

A summary of the acquisition costs and the fair value inventory step-up charges recorded in the years ended December 31, 2024, 2023 and 2022 are presented in the following table:

						2024						2023						2022
Acquisition costs						$	10.4					$	7.3					$	6.8
Fair value inventory step-up charges						9.6						1.6						8.5

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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.

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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.

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