Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2021

Business Combinations and Dispositions [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:

(In thousands)	Total
Current assets, net of cash acquired	$	18,500
Property, plant and equipment	4,034
Goodwill	58,980
Intangible assets	46,000
Other noncurrent assets	98
Total assets acquired	127,612
Current liabilities	(6,707)
Deferred income taxes	(14,597)
Other noncurrent liabilities	(72)
Net assets acquired	$	106,236

The final allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:

(In thousands)	Total
Current assets, net of cash acquired	$	32,858
Property, plant and equipment	4,166
Goodwill	60,026
Intangible assets	53,000
Other noncurrent assets	1,344
Total assets acquired	151,394
Current liabilities	(32,291)
Deferred income taxes	2,459
Other noncurrent liabilities	(329)
Net assets acquired (1)	$	121,233

(1) Subsequent to the first quarter of 2020, the Company obtained additional information about the assets and liabilities acquired that required a net $0.4 million adjustment to the purchase price of the Flow MD business.

Schedule of Finite-Lived Intangible Assets Acquired

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

(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	9,000	15
Customer relationships	30,000		13
Unpatented technology	7,000		11
Acquired intangible assets	$	46,000

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

(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	6,000	15
Customer relationships	31,500		10
Unpatented technology	15,500		20
Acquired intangible assets	$	53,000