Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired, net of cash acquired, and liabilities assumed at the October 31, 2018 date of acquisition for Gimatic and the July 23, 2018 acquisition date for IGS.

	IGS			Gimatic
Accounts receivable	$	3,300		$	11,264
Inventories	5,706			15,386
Prepaid expenses and other current assets	198			7,743
Deferred income taxes	—			554
Property, plant and equipment, net	1,557			6,717
Goodwill (Note 7)	14,098			277,098
Other intangible assets, net (Note 7)	15,300			158,800
Other assets	—			144
Total assets acquired	40,159			477,706
Accounts payable	(927		)	(3,825		)
Accrued liabilities	(603		)	(13,640		)
Debt assumed	—			(5,540		)
Other liabilities	(678		)	(7,092		)
Deferred income taxes	(3,614		)	(45,397		)
Total liabilities assumed	(5,822		)	(75,494		)
Net assets acquired	$	34,337		$	402,212

Business Acquisition, Pro Forma Information

The Pro Forma Results do not include the effects of any synergies or cost reduction initiatives related to the acquisitions.

	(Unaudited Pro Forma)
	2018		2017
Net Sales	$	1,555,481	$	1,501,515
Net Income	171,422		44,029