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ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Summary 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 as discussed in Note 13). A portion of the goodwill included in the table below is expected to provide an income tax benefit.
|  |  | Nine Months Ended September 30,
|  |  | 2022
Accounts receivable |  |  | $ | 30.4 |
Inventory |  |  | 36.5 |
Property, plant and equipment |  |  | 5.8 |
Goodwill |  |  | 35.9 |
Other intangible assets: |  |  |
Customer relationships (15-year life) |  |  | 39.5 |
Technology (10-year life) |  |  | 5.0 |
Trademarks and trade names (15-year life) |  |  | 1.2 |
Non-compete agreements and other (1 to 10-year life) |  |  | 1.2 |
Other current and long-term assets |  |  | 5.8 |
Current liabilities |  |  | (51.9) |
Deferred income taxes |  |  | (16.7) |
Other long-term liabilities |  |  | (2.6) |
Fair value of net identifiable assets |  |  | 90.1 |
Less: Additional contingent consideration payable |  |  | 27.6 |
Net cash consideration |  |  | $ | 62.5 |
Summary of Acquisitions | The following table summarizes acquisitions for the periods presented.
Nine Months Ended |  | Number of Acquisitions |  | Segment |  | Product/Service
September 30, 2023 |  | None |  |  |  |
September 30, 2022 |  | 2 |  | Specialized Products |  | Manufacturer of hydraulic cylinders for heavy construction equipment;
|  |  |  | Furniture, Flooring & Textile Products |  | Converter and distributor of construction fabrics for the furniture and bedding industries

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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 -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + 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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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