Acquisitions (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of consideration to the fair values of identifiable assets acquired and liabilities assumed in the Air Treatment business transaction. The goodwill arising from the acquisition is attributable to revenue and cost synergies, anticipated growth of new and existing customers, and the assembled workforce. None of this goodwill is expected to be deductible for tax purposes.

	Fair Value
Accounts receivable	$	26.1
Inventories	43.9
Other current assets	2.2
Property, plant and equipment	18.4
Goodwill	273.7
Other intangible assets	242.1
Other assets	10.9
Total current liabilities	(35.0)
Deferred tax liabilities	(56.4)
Other noncurrent liabilities	(6.9)
Total consideration	$	519.0

The following table summarizes the allocation of consideration for all businesses acquired in 2022 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for all 2022 acquisitions is substantially complete.

	Dosatron International		All Others		Total
Accounts receivable	$	1.8	$	16.3	$	18.1
Inventories	6.2		20.7		26.9
Other current assets	0.1		1.3		1.4
Property, plant and equipment	0.3		8.9		9.2
Goodwill	57.4		151.1		208.5
Other intangible assets	41.9		43.0		84.9
Other assets	13.8		0.9		14.7
Total current liabilities	(3.5)		(30.7)		(34.2)
Deferred tax liabilities	(13.8)		(9.7)		(23.5)
Other noncurrent liabilities	—		(1.9)		(1.9)
Total consideration	$	104.2	$	199.9	$	304.1