Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations and Dispositions [Abstract]

Schedule of Allocation of Acquisition Costs To Assets Acquired and Liabilities Assumed

The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values at their respective acquisition dates, is as follows:

	Novotema			Alfa Valvole			CPS			Other		Total
(In thousands)
Accounts receivable	$	8,029		$	13,487		$	945		$	—	$	22,461
Inventory	2,886			11,036			442			1,102		15,466
Other assets, net of cash acquired	1,866			3,367			79			—		5,312
Property, plant and equipment	11,844			8,395			1,105			—		21,344
Goodwill	34,316			69,568			9,739			748		114,371
Intangible assets	20,011			32,058			12,290			—		64,359
Total assets acquired	78,952			137,911			24,600			1,850		243,313
Current liabilities	(7,760		)	(11,279		)	(420		)	—		(19,459		)
Deferred income taxes	(7,803		)	(12,622		)	—			—		(20,425		)
Other noncurrent liabilities	(2,291		)	(1,420		)	—			—		(3,711		)
Net assets acquired	$	61,098		$	112,590		$	24,180		$	1,850	$	199,718

The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values at their respective acquisition dates, is as follows:

	Akron Brass			AWG Fittings			SFC Koenig			Total
(In thousands)
Accounts receivable	$	14,523		$	5,867		$	9,190		$	29,580
Inventory	29,157			11,766			20,639			61,562
Other assets, net of cash acquired	446			565			4,501			5,512
Property, plant and equipment	12,195			6,595			4,637			23,427
Goodwill	124,643			22,055			141,298			287,996
Intangible assets	90,400			10,279			116,998			217,677
Deferred income taxes	—			3,928			—			3,928
Total assets acquired	271,364			61,055			297,263			629,682
Current liabilities	(7,081		)	(5,117		)	(11,704		)	(23,902		)
Deferred income taxes	(36,439		)	—			(36,168		)	(72,607		)
Other noncurrent liabilities	(6,445		)	(8,444		)	(8,283		)	(23,172		)
Net assets acquired	$	221,399		$	47,494		$	241,108		$	510,001

Acquired Intangible Assets and Weighted Average Amortization Periods

The acquired intangible assets and weighted average amortization periods are as follows:

(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	14,078	15
Customer relationships	134,519		13
Unpatented technology	40,280		13
Amortized intangible assets	188,877
Indefinite lived - Akron Brass trade name	28,800
Total acquired intangible assets	$	217,677

The acquired intangible assets and weighted average amortization periods are as follows:

(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	9,247	15
Customer relationships	44,401		12
Unpatented technology	10,711		8
Total acquired intangible assets	$	64,359