In 2023, we completed two acquisitions for a combined preliminary purchase price of $378.8 million in cash, net of cash acquired. The acquisitions were financed using cash on hand and short-term borrowings.

The following table sets forth the preliminary purchase price allocation and summarizes the estimated fair values of the assets acquired and liabilities assumed for the acquisitions. The purchase price allocation is preliminary pending finalization of the calculations of the fair values of the assets acquired and liabilities assumed, and the valuations of the acquired identifiable intangible assets.


	Fair Value
Current Assets	$	153.6
Property		5.0
Goodwill		95.6
Intangible Assets		186.1
Other Non-current Assets		2.9
Current Liabilities		(64.4)
Total combined preliminary purchase price	$	378.8

The fully tax-deductible goodwill resulting from the acquisitions largely consists of our expected future product sales and synergies from combining the newly acquired subsidiaries’ products and services with our existing product and service offerings. The following table sets forth the components of preliminary identifiable intangible assets acquired and their useful lives:


	Weighted Average Life (in years)	Fair Value
Customer relationships	16.5	$	148.3
Tradename	15.0		36.6
Non-Compete Agreements	5.0		1.2
Total Intangible Assets	16.2	$	186.1

The fair values of the identified customer relationships and trade name intangible assets were estimated using the multi-period excess earnings and relief-from-royalty methods, respectively. Significant inputs used to value these identifiable intangible assets included projected revenues and expected operating margins, customer attrition rates, discount rates, and royalty rates.

Since the respective dates of the acquisitions, the results of the newly acquired subsidiaries are reflected in our consolidated financial statements, which consisted of approximately $301.5 million in revenue and $4.0 million in income from operations. Pro forma results of the acquisitions were not material; therefore, they are not presented.

In 2022, we completed acquisitions for a combined purchase price of $83.8 million in cash, net of cash acquired. The combined purchase price allocation resulted in $12.8 million and $27.4 million of tax-deductible goodwill and other intangible assets, respectively, and $12.4 million and $5.3 million of nondeductible goodwill and other intangible assets, respectively.

In 2021, we completed acquisitions for a combined purchase price of $89.7 million in cash, net of cash acquired. The combined purchase price allocation resulted in $20.9 million and $32.1 million of tax-deductible goodwill and other intangible assets, respectively.