XML 61 R45.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Goodwill and Intangible Assets (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table shows changes in the carrying amount of goodwill by reportable segment as of December 31, 2023 and December 31, 2022 (in millions):
| Medical |  | Industrial |  | Consolidated
Balance—December 31, 2021 | $ | 712.5 |  |  | $ | 950.1 |  |  | $ | 1,662.6 |
Business Combination and other acquisitions - measurement period adjustments | (1.9) |  |  | 5.3 |  |  | 3.4 |
CI acquisition |  |  | 4.9 |  |  | 4.9 |
Goodwill impairment | (87.3) |  |  | (124.5) |  |  | (211.8) |
Goodwill reclassified as assets held for sale | (7.3) |  |  | — |  |  | (7.3) |
Translation adjustment | — |  |  | (33.8) |  |  | (33.8) |
Balance—December 31, 2022 | $ | 616.0 |  |  | $ | 802.0 |  |  | $ | 1,418.0 |
Measurement Period Adjustment | — |  |  | 0.9 |  |  | 0.9 |
Acquisition of EC2 | 17.4 |  |  | — |  |  | 17.4 |
Translation Adjustment | — |  |  | 11.3 |  |  | 11.3 |
Balance—December 31, 2023 | $ | 633.4 |  |  | $ | 814.2 |  |  | $ | 1,447.6 |
Gross carrying amounts and cumulative goodwill impairment losses are as follows (in millions):
| December 31, 2023 |  | December 31, 2022
| Gross Carrying Amount |  | Cumulative Impairment |  | Gross Carrying Amount |  | Cumulative Impairment
Goodwill | $ | 1,659.4 |  |  | $ | (211.8) |  |  | $ | 1,629.8 |  |  | $ | (211.8) |
Schedule of Finite-Lived Intangible Assets | A summary of intangible assets useful lives, gross carrying value and related accumulated amortization is below (in millions):
Successor
|  |  | December 31, 2023
| Original Average Life in Years |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value
Customer relationships | 6 - 13 |  | $ | 340.8 |  |  | $ | (143.1) |  |  | $ | 197.7 |
Distributor relationships | 7 - 13 |  | 60.9 |  |  | (16.0) |  |  | 44.9 |
Developed technology | 5 - 16 |  | 264.1 |  |  | (67.8) |  |  | 196.3 |
Trade names | 3 - 10 |  | 99.7 |  |  | (22.1) |  |  | 77.6 |
Backlog and other | 1 - 4 |  | 76.0 |  |  | (53.7) |  |  | 22.3 |
Total |  |  | $ | 841.5 |  |  | $ | (302.7) |  |  | $ | 538.8 |
|  |  | December 31, 2022
| Original Average Life in Years |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value
Customer relationships | 6 - 13 |  | $ | 336.8 |  |  | $ | (83.1) |  |  | $ | 253.7 |
Distributor relationships | 7 - 13 |  | 60.9 |  |  | (8.7) |  |  | 52.2 |
Developed technology | 5 - 16 |  | 248.9 |  |  | (36.3) |  |  | 212.6 |
Trade names | 3 - 10 |  | 98.2 |  |  | (12.0) |  |  | 86.2 |
Backlog and other | 1 - 4 |  | 74.8 |  |  | (29.1) |  |  | 45.7 |
Total |  |  | $ | 819.6 |  |  | $ | (169.2) |  |  | $ | 650.4 |
Schedule of Finite-lived Intangible Assets Amortization Expense | Aggregate amortization expense for intangible assets included in cost of revenues and operating expenses was as follows (in millions):
| Successor |  |  | Predecessor
| Fiscal Year Ended December 31, 2023 |  | Fiscal Year Ended December 31, 2022 |  | From October 20, 2021 to December 31, 2021 |  |  | From July 1, 2021 through October 20, 2021 |  | Fiscal Year Ended June 30, 2021
Amortization expense for intangible assets in: |  |  |  |  |  |  |  |  |  |
Cost of revenues | $ | 27.1 |  |  | $ | 26.5 |  |  | $ | 5.6 |  |  |  | $ | 6.6 |  |  | $ | 20.9 |
Operating expenses | $ | 104.2 |  |  | $ | 119.3 |  |  | $ | 26.4 |  |  |  | $ | 13.1 |  |  | $ | 41.9 |

X
- Definition Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-2 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration