Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Accella

Acquisitions

Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities

The following table summarizes the consideration transferred to acquire Accella and the allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that

consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. 

	Preliminary Allocation		Measurement Period  Adjustments		Final Allocation
(in millions)	As of 11/1/2017				As of 11/1/2018
Total cash consideration transferred	$	670.7	$	0.7	$	671.4
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	$	16.5	$	—	$	16.5
Receivables, net	66.8		—		66.8
Inventories	48.5		(1.0)		47.5
Prepaid expenses and other current assets	0.9		—		0.9
Property, plant and equipment	59.6		3.2		62.8
Definite-lived intangible assets	240.0		(1.0)		239.0
Other long-term assets	15.6		—		15.6
Accounts payable	(45.5)		—		(45.5)
Income tax payable	2.0		—		2.0
Accrued expenses	(23.2)		9.5		(13.7)
Other long-term liabilities	(15.6)		—		(15.6)
Deferred income taxes	(83.5)		2.0		(81.5)
Total identifiable net assets	282.1		12.7		294.8
Goodwill	$	388.6	$	(12.0)	$	376.6

Schedule of unaudited combined pro forma financial information

The unaudited combined pro forma financial information presented below includes revenues and income from continuing operations, net of tax, of the Company as if the business combination had occurred on January 1, 2016, based on the purchase price allocation presented below:

(in millions)	Unaudited Pro Forma Twelve Months Ended December 31, 2017
Revenues	$	4,439.4
Income from continuing operations	351.8

Providien

Acquisitions

Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities

The following table summarizes the consideration transferred to acquire Providien and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation studies.

	Preliminary Allocation
(in millions)	As of 11/20/2019
Total cash consideration transferred	$	332.1
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	3.4
Receivables, net	38.9
Inventories, net	2.7
Prepaid expenses and other current assets	2.3
Property, plant and equipment	12.9
Definite-lived intangible assets	135.4
Other long-term assets	7.1
Accounts payable	(6.0)
Income tax payable	(0.7)
Accrued and other current liabilities	(7.0)
Other long-term liabilities	(8.1)
Deferred income taxes	(27.1)
Total identifiable net assets	153.8
Goodwill	$	178.3

Petersen Aluminum

Acquisitions

Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities

The following table summarizes the consideration transferred to acquire Petersen and the allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill.

	Preliminary Allocation		Measurement Period  Adjustments		Final Allocation
(in millions)	As of 1/11/2019				12/31/2019
Total cash consideration transferred	$	207.2	$	—	$	207.2
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	5.2		—		5.2
Receivables, net	11.5		—		11.5
Inventories, net	39.5		(0.3)		39.2
Prepaid expenses and other current assets	2.1		—		2.1
Property, plant and equipment	17.8		—		17.8
Definite-lived intangible assets	109.3		0.8		110.1
Other long-term assets	9.5		—		9.5
Accounts payable	(5.9)		—		(5.9)
Income tax payable	1.7		—		1.7
Accrued and other current liabilities	(8.7)		—		(8.7)
Other long-term liabilities	(12.4)		(0.1)		(12.5)
Deferred income taxes	(25.4)		(0.2)		(25.6)
Total identifiable net assets	144.2		0.2		144.4
Goodwill	$	63.0	$	(0.2)	$	62.8