Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of consideration for all businesses acquired in 2023 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for Air Treatment is complete. Initial accounting for all other acquisitions completed in 2023, including Roots, is substantially complete and any further measurement period adjustments are not expected to be material.

	Air Treatment		Roots		All Others		Total
Accounts receivable	$	26.1	$	14.5	$	11.8	$	52.4
Inventories	43.9		34.2		21.1		99.2
Other current assets	2.1		2.9		6.2		11.2
Property, plant and equipment	18.4		42.1		5.0		65.5
Goodwill	279.9		106.6		125.0		511.5
Other intangible assets	238.6		116.9		25.4		380.9
Other noncurrent assets	7.6		4.5		0.4		12.5
Total current liabilities	(35.9)		(27.1)		(19.1)		(82.1)
Deferred tax liabilities	(54.8)		—		(3.7)		(58.5)
Other noncurrent liabilities	(6.9)		(2.1)		(4.3)		(13.3)
Total consideration	$	519.0	$	292.5	$	167.8	$	979.3

The following table summarizes the allocation of consideration to the fair values of identifiable assets acquired and liabilities assumed at the acquisition date.

	Seepex		M-D Pneumatics and Kinney Vacuum Pumps		Maximus Solutions		All Others		Total Consideration
Accounts receivable	$	24.9	$	4.8	$	4.3	$	9.4	$	43.4
Inventories	42.4		3.8		2.9		10.1		59.2
Other current assets	1.9		0.2		0.2		0.3		2.6
Property, plant and equipment	40.6		16.2		2.1		15.0		73.9
Goodwill	249.0		81.5		75.9		79.6		486.0
Other intangible assets	239.2		82.5		39.5		95.9		457.1
Other noncurrent assets	1.4		—		—		—		1.4
Total current liabilities	(35.1)		(3.5)		(2.4)		(4.1)		(45.1)
Deferred tax liabilities	(75.6)		—		(11.3)		(4.2)		(91.1)
Other noncurrent liabilities	(6.6)		(1.5)		(0.2)		(1.8)		(10.1)
Total consideration	$	482.1	$	184.0	$	111.0	$	200.2	$	977.3

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

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 complete.

	Dosatron International		All others		Total Consideration
Accounts receivable	$	1.8	$	16.2	$	18.0
Inventories	6.2		20.4		26.6
Other current assets	0.1		1.3		1.4
Property, plant and equipment	0.3		8.9		9.2
Goodwill	57.4		151.9		209.3
Other intangible assets	41.9		43.0		84.9
Other noncurrent 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	$	200.3	$	304.5