Acquisitions and Divestitures (Tables) - JBT Aerotech

6 Months Ended

Jun. 30, 2024

Business Acquisition [Line Items]

Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of acquisition (in millions):

Assets Acquired:
Cash and cash equivalents	$	9.3
Accounts receivable	$	75.0
Unbilled receivables		57.8
Inventories		153.7
Other current assets		7.6
Property, plant and equipment		44.6
Goodwill		262.0
Purchased intangible assets		330.4
Other non-current assets		7.6
Total assets, excluding cash and cash equivalents	$	938.7
Liabilities Assumed:
Accounts payable	$	63.2
Customer advances		24.8
Payroll-related obligations		13.8
Other current liabilities		19.5
Deferred income taxes		4.5
Non-current liabilities		8.3
Total liabilities	$	134.1
Net assets acquired	$	804.6

Summary of Unaudited Pro forma Financial Information

The following table presents the supplemental consolidated results of the Company on an unaudited pro forma basis as if the acquisition of AeroTech had been completed on January 1, 2022 (in millions).

	Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
Net sales	$	2,577.4	$	4,986.8
Net income		167.6		247.2