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Business Combinations (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the final allocation of fair value of assets acquired and liabilities assumed.

(in millions)									Sound United
Cash consideration(1)									$	1,057.5
Purchase price									$	1,057.5
Assets acquired:
Cash and cash equivalents									$	82.6
Accounts receivables									108.5
Inventories									238.6
Prepaid expenses and other current assets									30.0
Property, plant and equipment									113.2
Intangible asset									649.0
Goodwill									325.8
Long-term other assets									7.4
Total assets acquired									$	1,555.1
Liabilities assumed:
Accounts payable									$	(118.8)
Accrued liabilities and other current liabilities									(148.9)
Deferred tax liabilities									(152.9)
Other long-term liabilities									(77.0)
Total liabilities assumed									$	(497.6)

______________

(1)    The purchase price allocation for the Sound United Acquisition is final.

The following table sets forth the components of identifiable intangible assets acquired and the weighted average amortization period as of the acquisition date:

						Weighted average amortization period (in years)						April 11,  2022 (in millions)
Trademarks/tradenames						10						$	6.0
Customer relationships						17						196.0
Developed technology						8						156.0
Contractual license agreements						15						29.0
Subtotal						14 years						$	387.0
Indefinite trademarks/tradenames						N/A						262.0
Total												$	649.0

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- References

No definition available.

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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

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