Divestitures and Acquisitions (Tables)

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Summary of Consideration transferred and the Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The following table summarizes the consideration transferred to acquire AFP and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed.

	Preliminary Allocation		Measurement Period			Revised Preliminary Allocation
(In millions)	As of August 1, 2018		Adjustments			As of June 30, 2019
Total consideration transferred	$	70.8	$	3.3		$	74.1
Assets:
Cash and cash equivalents	2.9		0.4			3.3
Trade receivables, net	30.8		—			30.8
Inventories, net	7.1		—			7.1
Prepaid expenses and other current assets	0.7		—			0.7
Property and equipment, net	3.5		(0.4		)	3.1
Identifiable intangible assets, net	18.6		0.7			19.3
Goodwill	21.6		1.1			22.7
Other non-current assets	0.7		(0.4		)	0.3
Total assets	$	85.9	$	1.4		$	87.3
Liabilities:
Current portion of long-term debt	—		0.1			0.1
Accounts payable	13.8		(2.2		)	11.6
Other current liabilities	1.3		—			1.3
Long-term debt, less current portion	—		0.2			0.2
Total liabilities	$	15.1	$	(1.9	)	$	13.2

Schedule of Identifiable Intangible Assets, net and Their useful Life

The following tables summarizes the identifiable intangible assets, net and their useful life.

	Amount		Useful life
	(in millions)		(in years)
Customer relationships	$	14.9	11
Trademarks and tradenames	4.4		5
Total intangible assets with definite lives	$	19.3