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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Estimated Fair Values of the Assets Acquired and Liabilities Assumed | The following table contains the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for all acquisitions during the periods presented (using inputs discussed in Note A). Of the goodwill included in the table below, none is expected to be deductible for tax purposes.
| 2022 |  | 2021 |  |
Accounts receivable | $ | 37.8 |  |  | $ | 18.3 |  |  |
Inventory | 43.0 |  |  | 17.0 |  |  |
Property, plant and equipment | 16.6 |  |  | 16.4 |  |  |
Goodwill (see Note D) | 42.5 |  |  | 70.9 |  |  |
Other intangible assets (see Note D) |  |  |  |  |
Customer relationships (15-year life) | 22.0 |  |  | 64.9 |  |  |
Technology (8 to 15-year life) | 11.3 |  |  | 5.5 |  |  |
Trademarks and trade names (15 to 20-year life) | 7.1 |  |  | 7.2 |  |  |
Non-compete agreements and other (1 to 5-year life) | .2 |  |  | 2.7 |  |  |
Other current and long-term assets | 9.1 |  |  | 5.5 |  |  |
Current liabilities | (54.7) |  |  | (39.2) |  |  |
Deferred income taxes | (17.7) |  |  | (11.9) |  |  |
Long-term liabilities | (5.0) |  |  | (4.7) |  |  |
Fair value of net identifiable assets | 112.2 |  | 152.6 |  |  |
Less: additional consideration (receivable) | (1.3) |  |  | — |  |  |
Less: additional contingent consideration payable | 30.2 |  |  | — |  |  |
Net cash consideration | $ | 83.3 |  |  | $ | 152.6 |  |  |
Schedule of Acquisitions | The following table summarizes acquisitions for the periods presented.
Year Ended |  | Number of Acquisitions |  | Segment |  | Product/Service
December 31, 2022 |  | 4 |  | Specialized Products Furniture, Flooring & Textile Products |  | Manufacturer of hydraulic cylinders for heavy construction equipment; Converter and distributor of construction fabrics for the furniture and bedding industries; Distributor of products used for erosion control and geosynthetic products for civil construction applications; Distributor of products used for erosion control and stormwater management
December 31, 2021 |  | 3 |  | Bedding Products Furniture, Flooring & Textile Products Specialized Products |  | Manufacturer of specialty foam for the bedding and furniture industries; Manufacturer of bent metal tubing for furniture used in office, residential, and other settings; Manufacturer of high-pressure and high-temperature ducting, flexible joints, and components
December 31, 2020 |  | None |  |  |  |

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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 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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