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Business Acquisition (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Summary of Purchase Price Allocation | The purchase price allocation is shown in the table below (in millions):
Current assets, net of cash acquired | $ | 7.5 |
Current liabilities, excluding contingent consideration | (7.0) |
Contingent consideration | (5.3) |
Other noncurrent assets (liabilities), net | (0.5) |
Deferred tax liabilities | (8.1) |
Identifiable intangible assets | 29.6 |
Goodwill | 33.4 |
Total | $ | 49.6 |
Summary of Identifiable Intangible Assets | The identifiable intangible assets relating to the Diros Acquisition include the following (in millions, except years):
| Identifiable Intangible Asset Amount | Weighted Average Useful Lives (Years)
Trade names and trademarks | $ | 2.9 |  | 15
Customer relationships | 21.2 |  | 14
Developed technology and other | 5.5 |  | 13
Total | $ | 29.6 |  |
Summary of Pro-Forma Information | The following unaudited pro forma financial information is presented in the table below for the three and six months ended June 30, 2023 as if the Diros Acquisition had occurred on January 1, 2022 (in millions except per share amounts):
| Three Months Ended June 30, 2023 |  | Six Months Ended June 30, 2023
Net sales | $ | 172.6 |  |  | $ | 335.4 |
Net loss from continuing operations | (4.1) |  |  | (11.7) |
Loss from discontinued operations, net of tax | (63.8) |  |  | (56.5) |
Net Loss | $ | (67.9) |  |  | $ | (68.2) |
Basic Loss Per Share |  |  |
Continuing operations | $ | (0.09) |  |  | $ | (0.25) |
Discontinued operations | $ | (1.36) |  |  | $ | (1.21) |
Basic Loss Per Share | $ | (1.45) |  |  | $ | (1.46) |
Diluted Loss Per Share |  |  |
Continuing operations | $ | (0.09) |  |  | $ | (0.25) |
Discontinued operations | $ | (1.36) |  |  | $ | (1.21) |
Diluted Loss Per Share | $ | (1.45) |  |  | $ | (1.46) |

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -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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