Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the Bacharach assets acquired and liabilities assumed at the date of the acquisition:

(In millions)	July 1, 2021
Current assets (including cash of $11.7 million)	$	32.1
Property, plant and equipment and other noncurrent assets	4.7
Customer relationships	123.0
Developed technology	20.5
Trade name	15.0
Goodwill	193.4
Total assets acquired	388.7
Total liabilities assumed	(47.6)
Net assets acquired	$	341.1

The following table summarizes the preliminary fair values of the Bristol assets acquired and liabilities assumed at the date of the acquisition:

(In millions)	January 25, 2021
Current assets (including cash of $13.3 million)	$	37.1
Net investment in sales-type leases, noncurrent	29.0
Property, plant and equipment and other noncurrent assets	12.0
Customer relationships	4.5
Trade name and other intangible assets	1.4
Goodwill	4.1
Total assets acquired	88.1
Total liabilities assumed	(11.8)
Net assets acquired	$	76.3

Schedule of Pro Forma Financial Information

Pro forma condensed combined financial information (Unaudited)

	Three Months Ended September 30,		Nine Months Ended September 30,
(In millions, except per share amounts)	2020		2021		2020
Net sales	$	328.9	$	1,027.6	$	1,056.9
Net income	$	24.8	$	69.2	$	102.9
Basic earnings per share	$	0.64	$	1.77	$	2.65
Diluted earnings per share	$	0.63	$	1.75	$	2.62