Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The total purchase price is summarized below:

(in millions)	Purchase Price
Amount of cash paid	$	117.5
Fair value of contingent purchase consideration	2.2
Total purchase price	$	119.7

The total purchase price revised for adjustments is summarized below:

(in millions)	October 15, 2018
Cash	$	581.5
Equity	37.7
Fair value of contingent purchase consideration	48.0
Preliminary purchase consideration	667.2
Adjustments	1.5
Final purchase consideration	$	668.7

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the final allocation of the purchase consideration based upon the fair values of assets acquired and liabilities assumed at October 4, 2018.

(in millions)	October 4, 2018			Measurement Period Adjustments			Updated October 4, 2018
Fair value of tangible assets acquired and liabilities assumed:
Cash	$	9.0		$	—		$	9.0
Accounts receivable	4.1			—			4.1
Inventory	19.7			—			19.7
Prepaid expenses and other assets	12.2			(0.3		)	11.9
Property, plant and equipment	57.8			—			57.8
Deferred tax assets, net	3.8			1.8			5.6
Accounts payable	(3.5		)	—			(3.5		)
Accrued expenses and other liabilities	(33.6		)	(0.4		)	(34.0		)
Total fair value of tangible assets acquired and liabilities assumed	69.5			1.1			70.6
Acquired in-process research and development	9.0			(9.0		)	—
Acquired intangible assets	133.0			—			133.0
Goodwill	61.6			7.9			69.5
Total purchase consideration	$	273.1		$	—		$	273.1

The table below summarizes the allocation of the purchase price based upon the fair values of assets acquired at October 6, 2017. The Company did not assume any liabilities in the acquisition. The Company has finalized the purchase price allocation related to this acquisition.

(in millions)	Purchase Price
Fair value of tangible assets acquired:
Inventory	$	74.9
Property, plant and equipment	20.0
Total fair value of tangible assets acquired	94.9
Acquired intangible asset	16.7
Goodwill	8.1
Total purchase price	$	119.7

The table below summarizes the final allocation of the purchase price based upon fair values of assets acquired and liabilities assumed at October 15, 2018.

(in millions)	October 15, 2018			Measurement Period Adjustments			Updated October 15, 2018
Fair value of tangible assets acquired and liabilities assumed:
Cash	$	17.7		$	—		$	17.7
Accounts receivable	21.3			—			21.3
Inventory	41.4			—			41.4
Prepaid expenses and other assets	7.8			3.0			10.8
Accounts payable	(32.2		)	—			(32.2		)
Accrued expenses and other liabilities	(50.4		)	—			(50.4		)
Deferred tax liability, net	(62.4		)	(0.5		)	(62.9		)
Total fair value of tangible assets acquired and liabilities assumed	(56.8		)	2.5			(54.3		)
Acquired in-process research and development	41.0			—			41.0
Acquired intangible asset	534.0			—			534.0
Goodwill	149.0			(1.0		)	148.0
Total purchase price	$	667.2		$	1.5		$	668.7