Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Summary of Final Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the final allocation of the purchase price to the fair value of assets acquired and liabilities assumed as of the date of the acquisition.

(In millions)
Accounts receivable	$	42.3
Inventories		49.8
Property, plant and equipment		66.6
Goodwill		307.0
Identifiable intangible assets		313.0
Operating lease assets		6.2
Other assets		3.7
Total assets		788.6
Accounts payable		6.6
Other current liabilities and accruals		32.1
Other non-current liabilities		32.4
Net assets acquired(a)	$	717.5

(a)Net assets exclude $0.4 million of cash transferred to the Company as the result of the Larson acquisition.

Schedule of Unaudited Pro Forma Financial Information

The unaudited pro forma financial information does not necessarily represent the results that would have occurred had the acquisition occurred on January 1, 2019. In addition, the unaudited pro forma information should not be deemed to be indicative of future results.

(In millions)		2020		2019
Net sales	$	6,493.2	$	6,100.4
Net income	$	592.5	$	410.8