BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Summarized preliminary purchase price allocation

The summarized purchase price allocation is as follows:

(In millions)	Preliminary Allocation As of December 31, 2020		Measurement Period Adjustments		Final Allocation
Cash and cash equivalents	$	145.1	$	—	$	145.1
Accounts receivable	170.8		—		170.8
Inventories	99.0		0.2		99.2
Other current assets	56.9		6.3		63.2
Property	267.6		(7.5)		260.1
Goodwill	569.0		(7.8)		561.2
Intangible assets:			—
Customer relationships	221.9		(20.7)		201.2
Trade names and trademarks	32.0		2.8		34.8
Patents, technology and other	273.9		7.4		281.3
Operating lease assets	30.1		—		30.1
Other long-term assets	1.3		5.8		7.1
Short term debt	(0.4)		—		(0.4)
Accounts payable	(92.7)		1.2		(91.5)
Current operating lease obligations	(2.8)		—		(2.8)
Accrued expenses and other current liabilities	(81.2)		(4.5)		(85.7)
Long-term debt	(6.7)		—		(6.7)
Non-current operating lease obligations	(25.8)		—		(25.8)
Deferred tax liabilities	(60.7)		25.9		(34.8)
Pension and other post-retirement benefits	(53.8)		—		(53.8)
Other long-term liabilities	(5.4)		(6.7)		(12.1)
Non-controlling interests	(12.8)		(2.4)		(15.2)
Total purchase price consideration	$	1,525.3	$	—	$	1,525.3

Pro Forma Information Sales and Income from Continuing Operations

Had the Clariant Color Acquisition occurred on January 1, 2019, which was the beginning of the fiscal year prior to the acquisition, sales and income from continuing operations before income taxes for the years ended December 31, 2020 and 2019 on a pro forma basis would have been as follows:

	(Unaudited)
(In millions)	2020		2019
Sales	$	3,782.5	$	3,981.3
Income from continuing operations before income taxes	204.2		98.9