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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | As of March 31, 2025, 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 | $ | 85.2 |
Property, plant and equipment | 53.7 |
Goodwill | 484.2 |
Intangible assets | 412.8 |
Other noncurrent assets | 14.7 |
Total assets acquired | 1,050.6 |
Current liabilities | (48.2) |
Deferred income taxes | (9.2) |
Other noncurrent liabilities | (11.2) |
Net assets acquired(1) | $ | 982.0 |
(1) The Company finalized the purchase price of Mott during the three months ended March 31, 2025, resulting in a reduction to the purchase price of $4.2 million. Funds were received by the Company in January 2025.
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 |  |  |

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -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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