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Business Acquisition (Tables) | 12 Months Ended
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Dec. 31, 2022
Components of Fair Value of Total Purchase Consideration | The fair value of total purchase consideration consisted of the following:
Cash |  | $ | 224.2 |
Receivable from sellers |  |  | (0.6 | )
Acquisition date fair value of contingent consideration |  |  | 2.5 |
Total purchase consideration |  |  | 226.1 |
Less: cash acquired |  |  | (6.0 | )
Total purchase consideration, net of cash acquired |  | $ | 220.1 |
Schedule of Allocation of Total Purchase Price, Net of Cash Acquired | The allocation of the total purchase price, net of cash acquired, is as follows:
Accounts receivable |  | $ | 28.3 |
Inventories |  |  | 24.8 |
Property, plant and equipment |  |  | 12.5 |
Goodwill |  |  | 76.5 |
Intangible assets |  |  | 128.0 |
Other assets |  |  | 12.2 |
Total assets acquired |  |  | 282.3 |
Accounts payable |  |  | 17.8 |
Other accrued expenses and current liabilities |  |  | 10.2 |
Deferred income taxes |  |  | 23.6 |
Other noncurrent liabilities |  |  | 10.6 |
Total liabilities assumed |  |  | 62.2 |
Fair value of net assets acquired |  | $ | 220.1 |
Schedule of Preliminary Fair Value of Identified Intangible Assets and Useful Lives | The fair value of identified intangible assets and their respective useful lives are as follows:
|  | Fair Value |  |  | Weighted- Average Amortization Periods (Yrs) |
Trade name |  | $ | 22.0 |  |  |  | 18 |
Technology |  |  | 13.0 |  |  |  | 8 |
Customer relationships |  |  | 85.0 |  |  |  | 25 |
Sales order backlog |  |  | 8.0 |  |  |  | 0.5 |
Identified intangible assets |  | $ | 128.0 |  |  |  | 21 |
Other Acquisitions During the fiscal years ended December 31, 2022 and January 1, 2022, the Company completed three additional business acquisitions. The results of operations of the acquired businesses are included in the Company's Consolidated Financial Statements since the date of each acquisition. Certain disclosures have not been presented as the effects of the acquisitions, individually and in the aggregate, were not material to the Company's financial results. In January 2021, the Company acquired all of the assets of BJN Technologies, LLC, an innovative engineering solutions provider, and formed the Helios Center of Engineering Excellence, LLC to centralize innovation and technology advancements to better leverage Helios’ product portfolio and global talent. In October 2021, the Company completed the acquisition of assets related to the electronic control systems business of Shenzhen Joyonway Electronics & Technology Co., Ltd and its related entities. Joyonway is a developer of control panels, software, systems and accessories for the health and wellness industry. The results of Joyonway’s operations are reported in the Company’s Electronics segment. In July 2022, we completed the acquisition of the assets of Taimi R&D, Inc., a Canadian manufacturer of innovative hydraulic components that offer ball-less design swivel products, which improve hydraulic reliability of equipment, increase the service life of components and help protect the environment by reduced leakage. T he results of Taimi’s operations are reported in the Company’s Hydraulics segment.

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + 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 + 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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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