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ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price of the Coventya and HKW Acquisitions (together, the "Acquisitions") to the identified assets acquired and liabilities assumed at the respective acquisition dates:

(dollars in millions)						Coventya						HKW
Identifiable assets acquired and liabilities assumed
Accounts receivable						$	44.4					$	10.1
Inventories						37.7						11.2
Other current assets						10.9						2.4
Property, plant and equipment						29.8						6.2
Identifiable intangible assets						213.4						28.7
Other assets						18.3						3.4
Current liabilities						(43.0)						(21.6)
Deferred income taxes						(61.3)						(7.2)
Other long-term liabilities						(15.0)						(3.2)
Non-controlling interests						(39.6)						—
Total identifiable net assets						195.6						30.0
Goodwill						290.0						20.9
Total purchase price						$	485.6					$	50.9

Schedule of acquired finite-lived intangible assets by major class

The fair value of the identifiable intangible assets recorded in conjunction with the Acquisitions was as follows:

						Coventya												HKW
(dollars in millions)						Fair Value						Weighted Average Useful Life (years)						Fair Value						Weighted Average Useful Life (years)
Customer relationships						$	145.0					12						$	20.8					12
Trade name						8.4						10						1.0						5
Developed technology						60.0						10						6.9						5
Total						$	213.4					11.4						$	28.7					10.1

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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