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Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2023

Business Combinations [Abstract]

Summary of Preliminary Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the ASSA Businesses purchase price to the fair value of assets acquired and liabilities assumed as of the date of the acquisition.

(In millions)
Accounts receivable		$	35.8
Inventories			107.2
Property, plant and equipment			19.5
Goodwill			264.0
Identifiable intangible assets			442.0
Operating lease assets			17.3
Other assets			2.3
Total assets			888.1
Accounts payable			26.0
Other current liabilities and accruals			37.5
Other non-current liabilities			15.3
Net assets acquired(a)		$	809.3

(a) Net assets exclude $16.3 million of cash transferred to the Company as the result of the acquisition.

Schedule of Unaudited Pro Forma Financial Information

The unaudited pro forma financial information does not necessarily represent the results that would have occurred had the acquisition occurred on January 1, 2022. In addition, the unaudited pro forma information should not be deemed to be indicative of future results.

(In millions)		Thirty-Nine Weeks Ended September 30, 2023				Thirteen Weeks Ended September 30, 2023				Nine Months Ended September 30, 2022				Three Months Ended September 30, 2022
Net sales		$	3,649.9			$	1,261.2			$	3,895.4			$	1,296.3
Income from continuing operations, net of tax		$	361.9			$	137.4			$	420.6			$	149.6

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

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- References

No definition available.

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X

- 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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