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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2024
Business Acquisition [Line Items] |
Schedule of Pro Forma Financial Statements | The pro forma adjustments are based upon currently available information and certain assumptions that the Company believes are reasonable under the circumstances.
|  | March 31, 2023 |  |  | March 31, 2024 |
|  | Before Adjustments |  |  | Pro forma Adjustments |  |  | After Adjustments |  |  | Before Adjustments |  |  | Pro forma Adjustments |  |  | After Adjustments |
Revenue |  | $ | 690.3 |  |  | $ | — |  |  | $ | 690.3 |  |  | $ | 722.9 |  |  | $ | — |  |  | $ | 722.9 |
Net (loss) income |  | $ | 74.4 |  |  | $ | (3.0 | ) |  | $ | 71.4 |  |  | $ | 47.0 |  |  | $ | (1.1 | ) |  | $ | 45.9 |
2024 Acquisitions |
Business Acquisition [Line Items] |
Schedule of Components and Fair Value Allocation of the Consideration Transferred in Connection with Acquisitions | The following table reflects the consideration transferred and the respective reportable segment for certain of the 2024 acquisitions (in millions):
|  | Chemspeed Technologies AG |  | Spectral Instruments Imaging LLC |  | Nion, LLC |  | Other |  | Total |
Segment |  | BSI BBIO |  | BSI BBIO |  | BSI NANO |  | Various |  |  |
Consideration Transferred: |  |  |  |  |  |  |  |  |  |  |
Cash paid |  | $ | 175.4 |  | $ | 29.0 |  | $ | 37.4 |  | $ | 39.8 |  | $ | 281.6 |
Cash acquired |  |  | (0.6 | ) |  | (1.5 | ) |  | (5.0 | ) |  | (1.1 | ) |  | (8.2 | )
Fair value of contingent consideration |  |  | — |  |  | 0.9 |  |  | 10.5 |  |  | 2.0 |  |  | 13.4 |
Working capital adjustment |  |  | — |  |  | 0.9 |  |  | (0.3 | ) |  | 1.2 |  |  | 1.8 |
Total consideration transferred, net of cash acquired |  | $ | 174.8 |  | $ | 29.3 |  | $ | 42.6 |  | $ | 41.9 |  | $ | 288.6 |
Allocation of Consideration Transferred: |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 6.1 |  | $ | 1.5 |  | $ | 0.3 |  | $ | 1.1 |  | $ | 9.0 |
Inventories |  |  | 34.4 |  |  | 3.4 |  |  | 23.2 |  |  | 2.8 |  |  | 63.8 |
Other current assets |  |  | 1.4 |  |  | — |  |  | — |  |  | 1.1 |  |  | 2.5 |
Property, plant and equipment |  |  | 1.8 |  |  | — |  |  | 0.5 |  |  | 0.4 |  |  | 2.7 |
Other assets |  |  | 17.3 |  |  | 0.9 |  |  | 2.2 |  |  | 6.7 |  |  | 27.1 |
Intangible assets: |  |  |  |  |  |  |  |  |  |  |
Technology |  |  | 29.7 |  |  | 9.0 |  |  | 9.2 |  |  | 15.4 |  |  | 63.3 |
Customer relationships |  |  | 54.5 |  |  | 2.5 |  |  | 2.6 |  |  | 0.6 |  |  | 60.2 |
Backlog |  |  | 8.4 |  |  | — |  |  | 4.9 |  |  | — |  |  | 13.3 |
Trade name |  |  | 4.9 |  |  | 0.3 |  |  | 1.1 |  |  | 0.8 |  |  | 7.1 |
Goodwill |  |  | 118.7 |  |  | 14.1 |  |  | 27.1 |  |  | 23.2 |  |  | 183.1 |
Liabilities assumed |  |  | (102.4 | ) |  | (2.4 | ) |  | (28.5 | ) |  | (10.2 | ) |  | (143.5 | )
Total consideration allocated |  | $ | 174.8 |  | $ | 29.3 |  | $ | 42.6 |  | $ | 41.9 |  | $ | 288.6 |
2023 Acquisitions |
Business Acquisition [Line Items] |
Schedule of Components and Fair Value Allocation of the Consideration Transferred in Connection with Acquisitions | The following table reflects the consideration transferred and the reportable segment for acquisition (in millions):
|  | Biognosys, AG |
Segment |  | BSI CALID |
Consideration Transferred: |  |  |
Cash paid |  | $ | 73.6 |
Cash acquired |  |  | (9.5 | )
Holdback |  |  | 0.2 |
Fair value of redeemable noncontrolling interest - other shareholders |  |  | 2.5 |
Total consideration transferred |  | $ | 66.8 |
Allocation of Consideration Transferred: |  |  |
Accounts receivable |  | $ | 3.6 |
Inventories |  |  | 0.4 |
Other current assets |  |  | 0.9 |
Property, plant and equipment |  |  | 8.0 |
Other assets |  |  | 4.3 |
Intangible assets: |  |  |
Technology |  |  | 10.2 |
Customer relationships |  |  | 13.8 |
Backlog |  |  | 0.8 |
Trade name |  |  | 2.7 |
Goodwill |  |  | 47.5 |
Liabilities assumed (a) |  |  | (25.4 | )
Total consideration allocated |  | $ | 66.8 |
Other 2024 Acquisitions |
Business Acquisition [Line Items] |
Schedule of Consideration Transferred and the Respective Reporting Segment for Each Acquisition |
Name of Acquisition |  | Date Acquired |  | Segment |  | Total Consideration, net of Cash Acquired |  |  | Cash Consideration |
Phasefocus Holdings Limited |  | March 1, 2024 |  | BSI NANO |  | $ | 6.3 |  |  | $ | 6.4 |
Nanophoton Corporation |  | February 5, 2024 |  | BSI CALID |  | $ | 13.3 |  |  | $ | 10.8 |
Tornado Spectral Systems, Inc. |  | January 1, 2024 |  | BSI CALID |  | $ | 22.3 |  |  | $ | 22.6 |
|  |  |  |  |  | $ | 41.9 |  |  | $ | 39.8 |
2024 Minority and Equity-method investments During the three months ended March 31, 2024, the Company also completed a minority investment. The investment is accounted for under the alternative measurement, and as such, the investment value also represents the carrying value at March 31, 2024. The following table reflects the consideration transferred for the investments (in millions):
Name |  | Financial Statement Classification |  | Date Acquired |  | Total Consideration |  |  | Cash Consideration |
Other Investments |  | Other long-term assets |  | February 22, 2024 |  | $ | 10.0 |  |  | $ | 10.0 |
|  |  |  |  |  | $ | 10.0 |  |  | $ | 10.0 |
Other 2023 Acquisitions |
Business Acquisition [Line Items] |
Schedule of Consideration Transferred and the Respective Reporting Segment for Each Acquisition | In the three months ended March 31, 2023, the Company acquired various other businesses which were accounted for under the acquisition method that complemented the Company’s existing product offerings. The following table reflects the consideration transferred and the respective reporting segment for the acquisitions (in millions):
Name of Acquisition |  | Date Acquired |  | Segment |  | Total Consideration |  |  | Cash Consideration |
Acquifer Imaging GmbH and Deltabyte GmbH |  | January 4, 2023 |  | BSI NANO |  | $ | 7.6 |  |  | $ | 7.6 |
Other majority owned acquisitions |  | Various |  | BSI CALID |  |  | 19.1 |  |  |  | 12.2 |
|  |  |  |  |  | $ | 26.7 |  |  | $ | 19.8 |
2023 Minority and Equity-method investments During the three months ended March 31, 2023, the Company also completed minority investments that complemented the Company's existing product offerings. The following table reflects the consideration transferred and the respective reporting segment for the investments (in millions):
Name |  | Acquisition / Investment |  | Financial Statement Classification |  | Date Acquired |  | Total Consideration |  |  | Cash Consideration |
Other Investments |  | Investment |  | Other long-term assets |  | Various |  | $ | 8.2 |  |  | $ | 8.2 |
|  |  |  |  |  |  |  | $ | 8.2 |  |  | $ | 8.2 |

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