Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

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 the first quarter of 2024 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for acquisitions completed

in the first quarter, including Friulair, is preliminary, and amounts assigned to acquired assets and liabilities assumed are subject to change as information necessary to complete the analysis is obtained.

	Friulair		All Others		Total
Accounts receivable	$	14.9	$	—	$	14.9
Inventories	13.2		0.3		13.5
Other current assets	0.5		—		0.5
Property, plant and equipment	7.7		0.1		7.8
Goodwill	44.9		1.0		45.9
Other intangible assets	84.5		—		84.5
Other assets	0.3		—		0.3
Total current liabilities	(14.5)		—		(14.5)
Other noncurrent liabilities	(2.8)		—		(2.8)
Total consideration	$	148.7	$	1.4	$	150.1

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	$	11.7	$	52.3
Inventories	43.9		34.2		21.0		99.1
Other current assets	2.1		2.9		6.2		11.2
Property, plant and equipment	18.4		42.0		5.0		65.4
Goodwill	279.9		104.0		125.7		509.6
Other intangible assets	238.6		116.9		25.4		380.9
Other assets	7.6		4.5		0.4		12.5
Total current liabilities	(35.9)		(26.9)		(19.2)		(82.0)
Deferred tax liabilities	(54.8)		—		(3.7)		(58.5)
Other noncurrent liabilities	(6.9)		(2.1)		(4.3)		(13.3)
Total consideration	$	519.0	$	290.0	$	168.2	$	977.2