Acquisition (Tables)

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table presents the assets acquired and liabilities assumed, based on their fair values and purchase consideration as of the acquisition date (in millions):

	July 10, 2017
Accounts receivable	$	43.2
Other receivables	0.4
Inventories	35.5
Deposits and prepayments	10.2
Property and equipment	39.5
Goodwill	43.4
Other intangible assets	20.5
Less: Capital lease liability	(16.7		)
Less: Accrued liabilities, and other	(2.0		)
Total consideration	$	174.0

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

	Fair Value in Millions		Useful Life in Years
Customer relationships	$	17.6	10-12
Non-competition agreements	0.1		4-6
Trade names	2.8		1-2
Total Other intangible assets	$	20.5

Schedule of Supplemental Pro Forma Information

The following table presents consolidated unaudited pro forma results of operations for the three and nine months ended September 30, assuming the acquisition of Farner-Bocken had occurred as of January 1, 2016 (in millions, except per share amounts):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017[1]		2016[1]		2017[1]		2016[1]
	Pro forma		Pro forma		Pro forma		Pro forma
Net sales	$	4,310.7	$	4,356.2	$	12,355.9	$	11,702.0
Net income	13.9		16.8		27.6		42.5
Basic earnings per share	$	0.30	$	0.36	$	0.60	$	0.92
Diluted earnings per share	0.30		0.36		0.59		0.91

(1) Includes consolidated results of Farner-Bocken.