ACQUISITION (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following is the preliminary purchase price allocation of assets acquired and liabilities assumed as of the acquisition date and related adjustments thereafter:

	Preliminary Allocation		Adjustments		Adjusted Preliminary Allocation
Accounts receivable	$	87.7	$	—	$	87.7
Inventories	50.1		—		50.1
Other current assets	15.7		—		15.7
Property, plant and equipment	87.1		—		87.1
Goodwill	748.2		5.0		753.2
Other intangible assets	1,004.2		—		1,004.2
Other assets	10.4		—		10.4
Accounts payable	33.9		—		33.9
Accrued expenses and other liabilities	50.0		—		50.0
Deferred income taxes	129.8		—		129.8
Other long-term liabilities	24.3		—		24.3
Net assets acquired and liabilities assumed	$	1,765.4	$	5.0	$	1,770.4

Schedule of Definite-Lived Intangible Assets Acquired as Part of Business Combination

The following table represents the definite lived intangible assets acquired, the preliminary fair values and respective useful lives as of the acquisition date:

	Useful Life	Preliminary Fair Value
Customer relationships	15 to 16 years	$	731.6
Developed technology	13 years	180.7
Trademarks	15 to 16 years	52.3
Backlog	1 year	39.6
Total intangible assets		$	1,004.2

Schedule of Pro Forma Information

The following pro forma results include adjustments to reflect acquisition related costs, additional interest expense and amortization of debt issuance costs, accounting policies applied to E&I after the business combination, amortization of intangibles associated with the business combination and the effects of adjustments made to the carrying value of certain assets.

Unaudited proforma information	Three months ended September 30, 2021		Nine months ended September 30, 2021
Net sales	$	1,322.2	$	3,884.4
Net income (loss)	43.9		63.0