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Business 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 preliminary fair values of the assets acquired and liabilities assumed as of the Merger date were as follows (in millions):
| Preliminary Allocation as of December 31, 2022 |  | Adjustments |  | Preliminary Allocation as of July 6, 2022
Cash and cash equivalents | $ | 55.9 |  |  | $ | — |  |  | $ | 55.9 |
Accounts receivable, net | 198.9 |  |  | (7.7) |  |  | 206.6 |
Inventories, net | 195.8 |  |  | 4.0 |  |  | 191.8 |
Other current assets | 27.9 |  |  | 0.4 |  |  | 27.5 |
Property, plant and equipment, net | 459.3 |  |  | 5.7 |  |  | 453.6 |
Intangible assets, net | 262.9 |  |  | 43.9 |  |  | 219.0 |
Other assets | 41.9 |  |  | 0.1 |  |  | 41.8 |
Total assets | $ | 1,242.6 |  |  | $ | 46.4 |  |  | $ | 1,196.2 |
Current debt | $ | 1.9 |  |  | $ | — |  |  | $ | 1.9 |
Accounts payable and other current liabilities | 199.7 |  |  | (8.2) |  |  | 207.9 |
Long-term debt | 22.8 |  |  | — |  |  | 22.8 |
Deferred income tax liabilities | 93.6 |  |  | 25.9 |  |  | 67.7 |
Other liabilities | 82.7 |  |  | 0.7 |  |  | 82.0 |
Net assets acquired | $ | 841.9 |  |  | $ | 28.0 |  |  | $ | 813.9 |
Goodwill | 214.4 |  |  | (28.0) |  |  | 242.4 |
Total consideration | $ | 1,056.3 |  |  | $ | — |  |  | $ | 1,056.3 |
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 |  | Adjustments |  | Preliminary Fair Value
Cash and cash equivalents | $ | 22.7 |  |  | $ | — |  |  | $ | 22.7 |
Accounts receivable, net | 67.7 |  |  | — |  |  | 67.7 |
Inventories, net | 60.0 |  |  | (0.9) |  |  | 60.9 |
Other current assets | 9.7 |  |  | (0.1) |  |  | 9.8 |
Property, plant and equipment, net | 159.8 |  |  | 7.7 |  |  | 152.1 |
Intangible assets, net | 246.2 |  |  | — |  |  | 246.2 |
Other 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 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 |
Schedule of Fair Values assigned to Identifiable Intangible Assets | The following table sets forth the components of identifiable intangible assets (in millions) and their estimated useful lives (in years):
| Fair Value |  | Weighted-Average Amortization Period
Amortizable intangible assets: |  |  |
Customer relationships | $ | 222.4 |  |  | 14.2
Tradenames and other | 17.3 |  |  | 20
Developed technology | 23.2 |  |  | 7
Total amortizable intangible assets | $ | 262.9 |  |  |
The following table shows the fair values assigned to identifiable intangible assets (in millions) and their estimated useful lives (in years):
| Fair Value |  | Weighted-Average Amortization Period
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 |  |  |
Schedule of Net Sales and Net Income from Scapa | Net sales and Net income from Neenah included in the Company's Consolidated Statements of Income (Loss) from the Merger date are as follows (in millions):
| July 6, 2022 - December 31, 2022
Net sales | $ | 560.2 |
Net income | $ | 2.5 |
The unaudited supplemental pro forma financial information presented below is not necessarily indicative of consolidated results of operations of the combined business had the Merger occurred as of January 1, 2021 (in millions):
| Years Ended December 31,
| 2022 |  | 2021
Net sales | $ | 2,768.5 |  |  | $ | 2,468.5 |
Net income (loss) | $ | 48.7 |  |  | $ | (26.9) |
The amounts of Net sales and Net income from Scapa included in the Company's Consolidated Statements of Income (Loss) from the acquisition date are as follows (in millions):
| April 15, 2021 - December 31, 2021
Net sales | $ | 305.6 |
Net income | $ | 0.6 |
The unaudited 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, nor is it necessarily indicative of the future results of the combined company (in millions):
| Year Ended
| December 31, 2021
Net sales | $ | 1,570.6 |
Net income | $ | 101.2 |

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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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