ACQUISITIONS Acquisitions (Tables)

9 Months Ended

Sep. 28, 2024

Acquisitions [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The assets acquired and liabilities assumed for kSARIA, Svanehøj and Micro-Mode acquisitions were recorded at fair value and are shown in the table below.

Allocation of Purchase Price	kSARIA (Preliminary)		Svanehøj (Preliminary)		Micro-Mode (Final)
Receivables	$	28.1	$	22.4	$	2.7
Inventory	50.6		39.5		5.3
Plant, property and equipment	5.8		19.1		6.1
Goodwill(a)	276.0		215.6		44.9
Other intangible assets	166.0		212.6		28.7
Other assets	8.9		9.0		0.2
Accounts payable and accrued liabilities	(27.9)		(28.0)		(2.6)
Other liabilities	(42.6)		(52.8)		(6.3)
Contract liabilities	(3.0)		(29.8)		—
Net assets acquired	$	461.9	$	407.6	$	79.0

(a)    Goodwill acquired with kSARIA is primarily attributable to the complementary nature of its product portfolio to ITT’s existing connectors portfolio. Goodwill related to the acquisition of Svanehøj is primarily attributable to future economic benefits expected from our entrance into the marine sector, our expanded presence in the energy market, and geographic expansion. Goodwill arising from acquisitions is not expected to be deductible for income tax purposes.