Acquisition (Tables)

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price to the identified assets acquired and liabilities assumed at the acquisition date:

(dollars in millions)
Identifiable assets acquired and liabilities assumed
Accounts receivable	$	10.3
Inventories	13.9
Other current assets	3.0
Property, plant and equipment	6.4
Identifiable intangible assets	28.7
Other assets	2.5
Current liabilities	(21.3)
Long-term liabilities	(10.6)
Total identifiable net assets	32.9
Goodwill	18.0
Total purchase price	$	50.9

Schedule of acquired finite-lived intangible assets by major class

The fair value of the identifiable intangible assets recorded in conjunction with the HKW Acquisition was as follows:

(dollars in millions)	Fair Value		Weighted Average Useful Life (years)
Customer relationships	$	20.8	12
Trade name	1.0		5
Developed technology	6.9		5
Total	$	28.7	10.1