ACQUISITIONS

9 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS

ACQUISITIONS

The following table contains the estimated fair values (using inputs as discussed in Note 13) of the assets acquired and liabilities assumed at the date of acquisition for all acquisitions during the periods presented. Of the goodwill included in the table below, none is expected to be deductible for tax purposes.

	Nine Months Ended September 30,
	2021
Accounts receivable	$	20.7
Inventory	17.4
Property, plant and equipment	15.3
Goodwill	76.9
Other intangible assets:
Customer relationships (1 to 15-year life)	45.5
Technology (1 to 10-year life)	18.6
Trademarks and trade names (20-year life)	6.6
Noncompete agreements (1 to 5-year life)	2.7
Other current and long-term assets	5.5
Current liabilities	(40.8)
Deferred income taxes	(10.9)
Other long-term liabilities	(4.7)
Fair value of net identifiable assets	152.8
Less: Additional consideration payable	.5
Net cash consideration	$	152.3

The following table summarizes acquisitions for the periods presented.

Nine Months Ended	Number of Acquisitions	Segment	Product/Service
September 30, 2021	3	Bedding Products Furniture, Flooring & Textile Products Specialized Products	Manufacturer of premium foam for the bedding and furniture industries; Manufacturer of bent metal tubing for furniture used in office, residential, and other settings; Manufacturer of high-pressure and high-temperature ducting, flexible joints and components
September 30, 2020	None

Certain of our acquisition agreements provide for additional consideration to be paid in cash at a later date and are recorded as liabilities at the acquisition date. We had no material consideration to be paid at a later date for acquisitions at September 30, 2021 or December 31, 2020.

We are finalizing all the information required to complete the purchase price allocations related to the recent acquisitions and do not anticipate any material modifications.

2021

We acquired three businesses:

•June 4, 2021 - A premium foam and bedding manufacturer serving the UK and Irish marketplace with two manufacturing facilities in the Dublin area. This acquisition will become an integral part of our Bedding Products segment. The purchase price was $119.7 and added $62.0 of goodwill.

•May 31, 2021 - A Polish manufacturer of bent metal tubing for furniture used in office, residential, and other settings. This acquisition will become part of our Furniture, Flooring & Textile Products segment. The purchase price was $5.4 and added $4.4 of goodwill.

•January 30, 2021 - A UK manufacturer specializing in metallic ducting systems, flexible joints, and components for the space, military, and commercial applications. This acquisition expands the capabilities of our aerospace products business to include flexible joint fabrication and will operate within our Specialized Products segment. The purchase price was $27.7 and added $10.5 of goodwill.

2020

No businesses were acquired during the first nine months of 2020.