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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid for the Caprolactone Business and the assets acquired and liabilities assumed, which was finalized in Q4 2019:
Purchase Price Allocation |  |
In millions | Weighted Average Amortization Period | Fair Value
Cash and cash equivalents |  | $ | 0.7 |
Accounts receivable |  | 15.7 |
Inventories (1) |  | 21.7 |
Prepaid and other current assets |  | 1.9 |
Property, plant and equipment |  | 86.3 |
Operating lease assets, net |  | 1.8 |
Intangible assets (2) |  |
Customer relationships | 17 years | 159.0 |
Developed technology | 12 years | 64.8 |
Brands | 17 years | 67.0 |
Non-compete agreement | 3 years | 0.5 |
Goodwill |  | 295.1 |
Other assets |  | 1.3 |
Total fair value of assets acquired |  | $ | 715.8 |
Accounts payable |  | 13.6 |
Accrued expenses |  | 2.3 |
Long-term debt |  | 113.1 |
Operating lease liabilities |  | 1.7 |
Deferred income taxes |  | 45.7 |
Total fair value of liabilities assumed |  | $ | 176.4 |
Cash and restricted cash acquired (3) |  | 1.5 |
Total cash paid, less cash and restricted cash acquired |  | $ | 537.9 |
______________ (1) Fair value of finished goods inventories acquired included a step-up in the value of approximately $8.4 million, all of which was expensed in the three months ended March 31, 2019. The expense is included in "Cost of sales" on the condensed consolidated statement of operations. Inventories are accounted for on a first-in, first-out basis of accounting. (2) The aggregate amortization expense was $4.7 million and $3.9 million for the three months ended June 30, 2020 and 2019, respectively, and the aggregate amortization expense was $9.5 million and $5.8 million for the six months ended June 30, 2020 and 2019, respectively. Estimated amortization expense is as follows: 2020 - $19.0 million, 2021 - $19.0 million, 2022 - $18.9 million, 2023 - $18.8 million, and 2024 - $18.8 million. The estimated pre-tax amortization expense may fluctuate due to changes in foreign currency. (3) Cash and cash equivalents and restricted cash were $0.7 million and $0.8 million, respectively, at closing. Restricted cash is included in "Prepaid and other current assets" on the consolidated balance sheet.
Business Acquisition, Pro Forma Information | The pro forma results presented below are adjusted for the removal of Acquisition and other-related costs for the six months ended June 30, 2019 of $32.0 million.
In millions |  |  | Six Months Ended June 30, 2019 |  |  |  |
Net sales |  |  | $ | 647.3 |  |  |  |  |
Income (loss) before income taxes |  |  | 127.0 |  |  |  |  |
Diluted earnings (loss) per share |  |  | $ | 2.49 |  |  |  |  |
Restructuring and Related Costs | The following table summarizes such costs.
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
In millions | 2020 |  | 2019 |  | 2020 |  | 2019
Legal and professional service fees | $ | 0.4 |  |  | $ | 0.8 |  |  | $ | 1.7 |  |  | $ | 10.9 |
Loss on hedging purchase price | — |  |  | — |  |  | — |  |  | 12.7 |
Acquisition-related costs | $ | 0.4 |  |  | $ | 0.8 |  |  | $ | 1.7 |  |  | $ | 23.6 |
Inventory fair value step-up amortization (1) | — |  |  | — |  |  | — |  |  | 8.4 |
Acquisition and other-related costs | $ | 0.4 |  |  | $ | 0.8 |  |  | $ | 1.7 |  |  | $ | 32.0 |
______________ (1) Included within "Cost of sales" on the condensed consolidated statement of operations.

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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=121647850&loc=d3e4845-128472 + Details
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