During the nine months ended September 30, 2023, we completed two acquisitions for a combined preliminary purchase price of $380.2 million in cash, net of cash acquired. The acquisitions were financed using cash on hand and short-term borrowings.

The 2023 acquisitions present a strategic opportunity for us to expand our reach in current markets and provide a solid foundation for growth into new markets.

The following table sets forth the preliminary purchase price allocation and summarizes the estimated fair values of the assets acquired and liabilities assumed at the respective dates of the acquisitions. The purchase price allocation is preliminary pending finalization of the calculations of the fair values of the assets acquired and liabilities assumed, and the valuations of the acquired identifiable intangible assets.


	Fair Value
Current Assets	$	153.5
Property		5.0
Goodwill		97.8
Intangible Assets		187.9
Other Non-current Assets		0.4
Current Liabilities		(64.4)
Total combined preliminary purchase price	$	380.2

The fully tax-deductible goodwill resulting from the acquisitions largely consists of our expected future product sales and synergies from combining the newly acquired subsidiaries’ products and services with our existing product and service offerings. The following table sets forth the components of preliminary identifiable intangible assets acquired and their useful lives as of the respective dates of the acquisitions:


	Weighted Average Life (in years)	Fair Value
Customer relationships	14.9	$	146.1
Trade name	15.0		38.2
Other intangibles	6.3		2.4
Non-Compete Agreements	5.0		1.2
Total Intangible Assets	14.7	$	187.9

The fair values of the identified customer relationships and trade name intangible assets were estimated using the multi-period excess earnings and relief-from-royalty methods, respectively. Significant inputs used to value these identifiable intangible assets included projected revenues and expected operating margins, customer attrition rates, discount rates, and royalty rates.