Acquisitions (Tables)

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Schedule of fair value of net assets acquired and liabilities assumed

The following is the record of the fair value of net assets acquired and liabilities assumed:

(dollars in millions)	Techflow Flexibles		Atlas Hydraulics
Assets acquired
Accounts receivable	$	1.7	$	10.3
Inventories	4.2		21.2
Prepaid expenses and other receivables	1.7		0.5
Taxes receivable	—		2.7
Property, plant and equipment	13.0		24.5
Intangible assets	3.8		23.0
Total assets	24.4		82.2
Liabilities assumed
Accounts payable	2.6		5.5
Accrued expenses	4.8		2.4
Other current liabilities	0.3		10.5
Taxes payable	1.9		—
Deferred income taxes	0.6		11.6
Total liabilities	10.2		30.0
Net assets acquired	$	14.2	$	52.2

Schedule of goodwill recognized

Goodwill has been recognized as follows:

(dollars in millions)	Techflow Flexibles			Atlas Hydraulics
Consideration, net of cash acquired	$	36.7		$	74.0
Net assets acquired	(14.2		)	(52.2		)
Goodwill	$	22.5		$	21.8