BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed (in millions):

Cash consideration paid at closing	$	319.3
Settlement of pre-existing relationships	5.4
Fair value of previously held equity interest in Innovalve	64.6
Fair value of contingent consideration	12.7
Total purchase price	402.0
Less: cash acquired	(21.1)
Total purchase price, net of cash acquired	$	380.9
Current assets	$	26.5
Property and equipment, net	1.2
Goodwill	205.4
In-process research and development	218.4
Liabilities assumed	(8.2)
Deferred tax liabilities	(41.3)
Net assets acquired	402.0
Less: cash acquired	(21.1)
Total purchase price, net of cash acquired	$	380.9

The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed (in millions):

Cash consideration paid at closing	$	650.3
Settlement of pre-existing relationships	53.1
Fair value of previously held equity interest in Endotronix	94.6
Fair value of contingent consideration	2.0
Total purchase price	800.0
Less: cash acquired	(1.2)
Total purchase price, net of cash acquired	$	798.8
Current assets	$	7.7
Property and equipment, net	12.6
Goodwill	382.8
In-process research and development	68.9
Developed technology	388.9
Operating lease right-of-use assets	9.9
Other assets	0.7
Liabilities assumed	(26.3)
Deferred tax liabilities	(45.2)
Net assets acquired	800.0
Less: cash acquired	(1.2)
Total purchase price, net of cash acquired	$	798.8

The following table summarizes the fair value of consideration transferred and the fair values of the assets acquired and liabilities assumed (in millions):

Cash consideration paid at closing	$	114.8
Fair value of contingent consideration	1.8
Total purchase price	116.6
Less: cash acquired	(0.3)
Total purchase price, net of cash acquired	$	116.3
Current assets	$	0.3
Property and equipment, net	0.3
Goodwill	46.4
In-process research and development	86.6
Current liabilities assumed	(1.0)
Deferred tax liabilities	(16.0)
Net assets acquired	116.6
Less: cash acquired	(0.3)
Total purchase price, net of cash acquired	$	116.3

The following table summarizes the fair values of the assets acquired and liabilities assumed (in millions):

Assets	$	8.1
Goodwill (b)	133.2
In-process research and development	136.6
Liabilities assumed	(1.7)
Deferred tax liabilities	(28.0)
Fair value of net assets acquired	248.2
Less: Noncontrolling interest (a)	(72.4)
Total purchase price	175.8
Less: cash acquired	(6.8)
Total purchase price, net of cash acquired (b)	$	169.0

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(a) Includes the fair value of the noncontrolling interest of $94.4 million, offset by the purchase consideration allocated to the option of $22.0 million, which was ascribed to the noncontrolling interest.

(b)     Includes $22.5 million paid in a previous year under option agreements, $5.3 million for the settlement of a pre-existing note, and $46.0 million of cash paid directly to the acquired company which was included in Edwards' consolidated cash balance and offset against goodwill post acquisition.