Business Combination Business Combination

12 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Acquisition

On February 15, 2017, we acquired Singer Valve, a manufacturer of automatic control valves, and its affiliates for aggregate cash consideration of $26.6 million, net of post-closing adjustments. Singer Valve had net sales of approximately $15 million in calendar 2016 and is included in Infrastructure. The allocation of consideration to the assets and liabilities of these companies, is presented below, in millions.

Assets acquired, net of cash:
Receivables	$	3.0
Inventories	5.8
Other current assets	0.2
Property, plant and equipment	1.0
Intangible assets	11.4
Goodwill	7.2
Liabilities assumed:
Accounts payable	0.7
Other current liabilities	0.4
Current and long term debt	0.1
Deferred income tax liability	0.8
Consideration paid	$	26.6

The goodwill recognized represents expected benefits of the acquisition that do not qualify for recognition as intangible assets and is deductible for income tax purposes.