Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Estimated useful lives of property, plant and equipment

	Estimated Useful Life
Buildings	25 to 40 years
Machinery and equipment	3 to 10 years
Computer equipment and software	3 to 5 years
Furniture and fixtures	3 to 10 years
Leasehold improvements	Lesser of 15 years or the remaining lease term

Estimated useful lives of finite intangible assets

Intangible assets with a finite useful life are amortized on a straight-line basis over their estimated useful lives as follows:

	Estimated Useful Life
Existing technology and related patents		3 to 15 years
Customer relationships		5 to 15 years
Trade names		5 to 15 years

Assumptions regarding volatility, expected life, dividend yield and risk-free interest rates

Assumptions regarding volatility, expected term, dividend yield and risk-free interest rates are required for the Black-Scholes model and are presented in the table below:

	2021			2020			2019
Risk-free interest rates		0.62	%		0.23	%		1.55	%
Expected life		4.4 years			5.1 years			5.3 years
Volatility		34.0	%		34.1	%		29.6	%
Expected dividend yield		0.20	%		0.37	%		0.38	%
Weighted-average fair value per share	$	21.69		$	12.08		$	11.16