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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Schedule of Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the SMC assets acquired and liabilities assumed at the date of acquisition:
(In millions) | May 20, 2019
Current assets (including cash of $2.1 million) | $ | 10.5 |
Property, plant and equipment and other noncurrent assets | 1.3 |
Customer relationships | 9.6 |
Acquired technology | 1.4 |
Goodwill | 19.9 |
Total assets acquired | 42.7 |
Total liabilities assumed | 6.5 |
Net assets acquired | $ | 36.2 |
Schedule of Pro Forma Financial Information | The following unaudited pro forma information presents our combined results as if the SMC acquisition had occurred on January 1, 2019. The unaudited pro forma financial information was prepared to give effect to events that are (1) directly attributable to the acquisition; (2) factually supportable; and (3) expected to have a continuing impact on the combined company’s results. There were no material transactions between MSA and SMC during the period presented that are required to be eliminated. Intercompany transactions between SMC companies during the periods presented have been eliminated in the unaudited pro forma combined financial information. The unaudited pro forma financial information does not reflect any cost savings, operating synergies or revenue enhancements that the combined companies may achieve as a result of the acquisitions or the costs to integrate the operations or the costs necessary to achieve cost savings, operating synergies or revenue enhancements.
(In millions, except per share amounts) | Three months ended June 30, 2019 | Six months ended June 30, 2019
Net sales | $ | 352.4 |  | $ | 684.0 |
Net income | 38.7 |  | 62.0 |
Basic earnings per share | 1.00 |  | 1.61 |
Diluted earnings per share | 0.99 |  | 1.58 |

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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=116869197&loc=d3e4845-128472 + Details
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