Acquisitions (Tables)

9 Months Ended

Sep. 30, 2023

Roker Inc. (Roker)

Business Acquisition [Line Items]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The estimated fair values of the assets acquired and liabilities assumed based on the information that was available as of the acquisition date were as follows:

(millions)
Other intangible assets		2.3
Goodwill		0.9
Accounts payable		(0.1	)
Net cash paid	$	3.1

Schedule of Other Assets Acquired were Recorded at their Estimated Fair Value

The other intangible assets acquired were recorded at their estimated fair value on the acquisition date as follows:

(millions)	Estimated Life	Estimated Fair Value
Proprietary know how	8.0 Years	$	2.1
Customer relationships	5.4 Years		0.2
Estimated fair value of identified intangible assets		$	2.3

KMP Associates Limited and Divrt, Inc.

Business Acquisition [Line Items]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The fair value of the assets acquired and liabilities assumed were as follows:

(millions)
Cash and cash equivalents	$	0.9
Accounts receivable		0.7
Prepaid expenses and other current assets		0.1
Other intangible assets		21.7
Goodwill		16.3
ROU asset		0.1
Accounts payable		(0.1	)
Accrued and other current liabilities		(1.5	)
Deferred income tax liability		(2.5	)
Other long-term borrowings		(0.3	)
Net assets acquired and liabilities assumed		35.4
Less: cash and cash equivalents acquired		0.9
Less: contingent consideration payable		4.0
Net cash paid	$	30.5

Schedule of Other Assets Acquired were Recorded at their Estimated Fair Value

The other intangible assets acquired were recorded at their fair value on the acquisition dates as follows:

(millions)	Estimated Life	Fair Value
Proprietary know how	7.4 Years	$	17.3
Customer relationships	5.8 Years		3.2
Trade names	13.2 Years		1.8
Covenant not to compete	4.2 Years		1.2
Fair value of identified intangible assets		$	23.5