Mergers and Acquisitions (Tables)

6 Months Ended

Jun. 30, 2018

Business Combination Schedule of Consideration [Table Text Block]

The purchase price for OnX consisted of the following:



(dollars in millions)
Cash consideration	$	241.2
Debt repayment	(77.6		)
Working capital adjustment	2.8
Total purchase price	$	166.4

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Based on fair value estimates, the purchase price for OnX has been allocated to individual assets acquired and liabilities assumed as follows:



(dollars in millions)
Assets acquired
Cash	$	6.5
Receivables	69.9
Prepaid expenses and other current assets	11.8
Property, plant and equipment	11.6
Goodwill	133.1
Intangible assets	134.0
Other noncurrent assets	3.2
Total assets acquired	370.1
Liabilities assumed
Accounts payable	63.6
Current portion of long-term debt	1.3
Accrued expenses and other current liabilities	18.3
Deferred income tax liabilities	42.3
Long-term debt, less current portion	76.7
Other noncurrent liabilities	1.5
Total liabilities assumed	203.7
Net assets acquired	$	166.4

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The estimated fair value of identifiable intangible assets and their estimated useful lives are as follows:



(dollars in millions)	Fair Value		Useful Lives
Customer relationships	$	108.0	15 years
Trade name	16.0		10 years
Technology	10.0		10 years
Total identifiable intangible assets	$	134.0

Business Acquisition, Pro Forma Information [Table Text Block]

The following table provides the unaudited pro forma results of operations for the three and six months ended June 30, 2017 as if OnX had been acquired as of the beginning of fiscal year 2016. Revenue has been retrospectively adjusted for the adoption of ASC 606 to reflect hardware revenue in the Infrastructure Solutions category net of related cost of products. These results include adjustments related to the financing of the acquisition, to increase depreciation and amortization associated with the higher values of property, plant and equipment and intangible assets, to increase interest expense for the additional debt incurred to complete the acquisition, and to reflect the related income tax effect and change in tax status. The pro forma information does not necessarily reflect the actual results of operations had the acquisition been consummated at the beginning of the annual reporting period indicated nor is it necessarily indicative of future operating results. The pro forma information does not include any (i) potential revenue enhancements, cost synergies or other operating efficiencies that could result from the acquisition or (ii) transaction or integration costs relating to the acquisition.



	Three Months Ended			Six Months Ended
	June 30,			June 30,
(dollars in millions, except per share amounts)	2017			2017
Revenue	$	313.1		$	611.6
Net (loss) income applicable to common shareholders	(5.5		)	48.6
Earnings per share:
Basic and diluted earnings (loss) per common share	(0.13		)	1.15