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Acquisitions (Tables)
 6 Months Ended
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