Acquisitions (Tables)

6 Months Ended

Jun. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following amounts represent the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed from our acquisition of OpSec. The final determination of the fair value of certain assets and liabilities will be completed within the measurement period as required by ASC 805. The purchase price allocation is preliminary, pending our evaluation and determination of post-closing and final working capital adjustments. Potential adjustments made are not expected to be material in relation to the preliminary values presented below:

Net assets acquired (in millions)
Total current assets	$	36.8
Property, plant and equipment	17.3
Other assets	9.8
Intangible assets	158.3
Goodwill	123.1
Total assets acquired	$	345.3
Total current liabilities	$	33.6
Other liabilities	41.9
Total assumed liabilities	$	75.5
Net assets acquired	$	269.8

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The amounts allocated to acquired intangible assets, and their associated weighted-average useful lives which were determined based on the period in which the assets are expected to contribute directly or indirectly to our future cash flows, consist of the following:

Intangible Assets (in millions)	Intangible Fair Value		Weighted Average Life (in years)
Intellectual property rights	$	4.3	9.0
Customer relationships	115.5		19.3
Developed technology	36.5		5.7
Backlog	2.0		0.7
Total acquired intangible assets	$	158.3