Business Acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Schedule of Consideration Paid and Preliminary Estimated Fair Values Of Assets Acquired and Liabilities Assumed

The following table shows the preliminary fair values assigned to identifiable intangible assets ($ in millions):

	Preliminary Fair Values as of March 13, 2020		Weighted-Average Amortization Period (Years)
Amortizable intangible assets:
Customer relationships	$	66.0	15
Tradenames and other	11.2		15
Developed technology	8.0		10
Total amortizable intangible assets	$	85.2

The consideration paid for Tekra and the preliminary estimated fair values of the assets acquired, and liabilities assumed as of the March 13, 2020 acquisition date were as follows ($ in millions):

	Preliminary Fair Values as of March 13, 2020
Cash and cash equivalents	$	2.1
Accounts receivable	8.8
Inventory	14.1
Other current assets	0.2
Property, plant and equipment	7.3
Identifiable intangible assets	85.2
Other noncurrent assets	3.3
Total assets	121.0
Accounts payable	2.4
Other current liabilities	3.6
Other noncurrent liabilities	2.7
Net assets acquired	112.3
Goodwill	60.4
Total consideration	$	172.7

Schedule of Net Sales and Income From Continuing Operations of Acquired Company included in Consolidated Financial Statements

The amounts of Net sales and Income from continuing operations of Tekra included in the Company's condensed consolidated income statement from the acquisition date are as follows ($ in millions):

	March 13, 2020 - March 31, 2020
Net Sales	$	5.5
Income from Continuing Operations	$	0.4