Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price of the Coventya and HKW Acquisitions (together the "Acquisitions") to the identified assets acquired and liabilities assumed at the respective acquisition dates:

(dollars in millions)	Coventya		HKW
Identifiable assets acquired and liabilities assumed
Accounts receivable	$	44.6	$	10.1
Inventories	37.7		11.2
Other current assets	10.9		2.4
Property, plant and equipment	28.7		6.2
Identifiable intangible assets	213.4		28.7
Other assets	11.4		2.7
Current liabilities	(42.9)		(21.6)
Deferred income taxes	(55.5)		(7.5)
Other long-term liabilities	(14.7)		(3.2)
Non-controlling interests	(39.6)		—
Total identifiable net assets	194.0		29.0
Goodwill	291.6		21.9
Total purchase price	$	485.6	$	50.9

Schedule of acquired finite-lived intangible assets by major class

The fair value of the identifiable intangible assets recorded in conjunction with the Acquisitions was as follows:

	Coventya			HKW
(dollars in millions)	Fair Value		Weighted Average Useful Life (years)	Fair Value		Weighted Average Useful Life (years)
Customer relationships	$	145.0	12	$	20.8	12
Trade name	8.4		10	1.0		5
Developed technology	60.0		10	6.9		5
Total	$	213.4	11.4	$	28.7	10.1