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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Total purchase price | The total purchase price, revised for current period adjustments is summarized below:
|  | October 15, 2018
Cash |  | $ | 581.5 |
Equity |  | 37.7 |
Fair value of contingent purchase consideration |  | 48.0 |
Preliminary purchase consideration |  | 667.2 |
Adjustments |  | 1.5 |
Updated purchase consideration |  | $ | 668.7 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The table below summarizes the preliminary allocation of the purchase price based upon estimated fair values of assets acquired and liabilities assumed at October 15, 2018 updated for measurement period adjustments recorded through June 30, 2019.
| October 15, 2018 |  | Measurement Period Adjustments |  | Updated October 15, 2018
Estimated fair value of tangible assets acquired and liabilities assumed: |  |  |  |  |
Cash | $ | 17.7 |  |  | $ | — |  |  | $ | 17.7 |
Accounts receivable | 21.3 |  |  | — |  |  | 21.3 |
Inventory | 41.4 |  |  | — |  |  | 41.4 |
Prepaid expenses and other assets | 7.8 |  |  | 3.0 |  |  | 10.8 |
Accounts payable | (32.2 | ) |  | — |  |  | (32.2 | )
Accrued expenses and other liabilities | (50.4 | ) |  | — |  |  | (50.4 | )
Deferred tax liability, net | (62.4 | ) |  | (0.5 | ) |  | (62.9 | )
Total estimated fair value of tangible assets acquired and liabilities assumed | (56.8 | ) |  | 2.5 |  |  | (54.3 | )
Acquired in-process research and development | 41.0 |  |  | — |  |  | 41.0 |
Acquired intangible assets | 534.0 |  |  | — |  |  | 534.0 |
Goodwill | 149.0 |  |  | (1.0 | ) |  | 148.0 |
Total purchase price | $ | 667.2 |  |  | $ | 1.5 |  |  | $ | 668.7 |
The table below summarizes the preliminary allocation of the purchase price based upon estimated fair values of assets acquired and liabilities assumed at October 4, 2018 updated for measurement period adjustments recorded through June 30, 2019.
| October 4, 2018 |  | Measurement Period Adjustments |  | Updated October 4, 2018
Estimated fair value of tangible assets acquired and liabilities assumed: |  |  |  |  |
Cash | $ | 9.0 |  |  | $ | — |  |  | $ | 9.0 |
Accounts receivable | 4.1 |  |  | — |  |  | 4.1 |
Inventory | 19.7 |  |  | — |  |  | 19.7 |
Prepaid expenses and other assets | 12.2 |  |  | — |  |  | 12.2 |
Property, plant and equipment | 57.8 |  |  | — |  |  | 57.8 |
Deferred tax assets | 3.8 |  |  | — |  |  | 3.8 |
Accounts payable | (3.5 | ) |  | — |  |  | (3.5 | )
Accrued expenses and other liabilities | (33.6 | ) |  | (0.4 | ) |  | (34.0 | )
Total estimated fair value of tangible assets acquired and liabilities assumed | 69.5 |  |  | (0.4 | ) |  | 69.1 |
Acquired in-process research and development | 9.0 |  |  | (9.0 | ) |  | — |
Acquired intangible assets | 133.0 |  |  | — |  |  | 133.0 |
Goodwill | 61.6 |  |  | 9.4 |  |  | 71.0 |
Total purchase price | $ | 273.1 |  |  | $ | — |  |  | $ | 273.1 |
Impact of Business Acquisitions | The following table presents their revenue and earnings as reported within the consolidated financial statements.
| Three months ended June 30, |  | Six months ended June 30,
| 2019 |  | 2019
Revenue | $ | 88.2 |  |  | $ | 163.1 |
Operating income | 8.2 |  |  | 4.4 |

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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 http://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 http://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 http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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