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Business Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired And Liabilities Assumed | The consideration paid for Scapa, and the fair values of the assets acquired and liabilities assumed as of the April 15, 2021 acquisition date were as follows (in millions):
| Final Fair Value as of June 30, 2022 |  | Adjustments |  | Preliminary Fair Value as of April 15, 2021
Cash and cash equivalents | $ | 22.7 |  |  | $ | — |  |  | $ | 22.7 |
Accounts receivable | 67.7 |  |  | — |  |  | 67.7 |
Inventory | 60.0 |  |  | (0.9) |  |  | 60.9 |
Other current assets | 9.7 |  |  | (0.1) |  |  | 9.8 |
Property, plant and equipment | 159.8 |  |  | 7.7 |  |  | 152.1 |
Identifiable intangible assets | 246.2 |  |  | — |  |  | 246.2 |
Other non-current assets | 23.3 |  |  | (3.0) |  |  | 26.3 |
Total assets | $ | 589.4 |  |  | $ | 3.7 |  |  | $ | 585.7 |
Current debt | $ | 15.0 |  |  | $ | — |  |  | $ | 15.0 |
Accounts payable and other current liabilities | 83.9 |  |  | (2.0) |  |  | 85.9 |
Deferred income tax liabilities | 49.2 |  |  | (12.3) |  |  | 61.5 |
Other non-current liabilities | 40.1 |  |  | 7.0 |  |  | 33.1 |
Net assets acquired | $ | 401.2 |  |  | $ | 11.0 |  |  | $ | 390.2 |
Goodwill | 252.1 |  |  | (11.0) |  |  | 263.1 |
Total consideration | $ | 653.3 |  |  | $ | — |  |  | $ | 653.3 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table shows the fair values assigned to identifiable intangible assets (in millions):
| Fair Value |  | Weighted-Average Amortization Period (Years)
Amortizable intangible assets: |  |  |
Customer relationships | $ | 205.4 |  |  | 15
Tradenames and other | 7.7 |  |  | 10
Developed technology | 33.1 |  |  | 7
Total amortizable intangible assets | $ | 246.2 |  |  |
Actual and Pro Forma Net Sales and Income from Continuing Operations | The supplemental pro forma financial information presented below is not necessarily indicative of consolidated results of operations of the combined business had the Scapa acquisition occurred as of January 1, 2020 (in millions):
| Three Months Ended |  | Six Months Ended
| June 30, 2021 |  | June 30, 2021
Net sales | $ | 387.2 |  |  | $ | 797.0 |
Net income | $ | 3.6 |  |  | $ | 35.5 |

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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 https://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 https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + 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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