Acquisitions Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed with Adjustments Table Text Block

The assets acquired and liabilities assumed for the kSARIA acquisition were recorded at fair value and are shown in the table below, including adjustments to the preliminary purchase price as of September 28, 2024, and during the fourth quarter of 2024. The impact to the current period income statement resulting from the adjustments was not material.


kSARIA - Allocation of Purchase Price	Preliminary 9/28/2024		Q4 2024 Adjustments		Preliminary 12/31/2024
Receivables	$	28.1	$	(1.4)	$	26.7
Inventory	50.6		(2.6)		48.0
Plant, property and equipment	5.8		3.6		9.4
Goodwill(a)	276.0		(31.7)		244.3
Other intangible assets	166.0		19.1		185.1
Other assets	8.9		1.4		10.3
Accounts payable and accrued liabilities	(27.9)		(0.6)		(28.5)
Other liabilities	(42.6)		12.1		(30.5)

Contract liabilities	(3.0)		—		(3.0)
Net assets acquired	$	461.9	$	(0.1)	$	461.8

(a) Goodwill acquired with kSARIA is primarily attributable to the complementary nature of its product portfolio to ITT’s existing connectors portfolio. Goodwill arising from the acquisition is not expected to be deductible for income tax purposes.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

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


Allocation of Purchase Price	Svanehøj (Final)(b)		Micro-Mode (Final)
Receivables	$	22.4	$	2.7
Inventory	39.5		5.3
Plant, property and equipment	19.1		6.1
Goodwill(a)	215.6		44.9
Other intangible assets	212.6		28.7
Other assets	9.0		0.2
Accounts payable and accrued liabilities	(28.0)		(2.6)
Other liabilities	(52.8)		(6.3)
Contract liabilities	(29.8)		—
Net assets acquired	$	407.6	$	79.0

(a) 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.

(b) The purchase price allocation of Svanehøj was updated subsequent to the preliminary allocation in Q1 2024, including an increase to goodwill of $13.7 and a decrease to intangible assets, other liabilities and inventory of $13.4, $1.5 and $1.1, respectively. There was no material impact to the income statement for any period resulting from the change.