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Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2021
ASP Henry Holdings, Inc.  
Acquisitions  
Unaudited Combined Pro Forma 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, 2020, based on the purchases price allocation presented below:
Unaudited Pro Forma
Year ended December 31,
(in millions)20212020
Revenues$5,170.6 $4,435.1 
Income from continuing operations$410.7 $318.1 
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 Henry 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 for all acquired assets and liabilities.
Preliminary AllocationMeasurement Period AdjustmentsPreliminary Allocation
(in millions)As of
9/1/2021		As of 12/31/2021
Total cash consideration transferred $1,608.2$(2.6)$1,605.6
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents34.3—34.3
Receivables, net79.0—79.0
Inventories59.4(7.9)51.5
Prepaid expenses and other current assets10.5(0.2)10.3
Property, plant and equipment53.68.261.8
Other intangible assets735.1446.71,181.8
Other long-term assets3.67.711.3
Accounts payable(77.9)2.2(75.7)
Accrued and other current liabilities(28.7)(0.4)(29.1)
Short-term debt(1.0)—(1.0)
Contract liabilities(2.6)—(2.6)
Other long-term debt(0.8)—(0.8)
Other long-term liabilities(5.9)(7.7)(13.6)
Deferred income taxes(153.4)(111.8)(265.2)
Total identifiable net assets705.2336.81,042.0
Goodwill$903.0$(339.4)$563.6
Acquired Definite-lived Intangible Assets
The preliminary fair value and weighted average useful lives of the acquired intangible assets are as follows:
(in millions)Fair Value Weighted Average Useful Life (in years)
Customer relationships$915.9 18
Technologies46.5 11
Software0.1 4
Indefinite-lived trade name219.3 N/A
Total$1,181.8 
Motion Tech Automation, LLC  
Acquisitions  
Acquired Definite-lived Intangible Assets
The fair values and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life
(in years)
Technologies$2.3 9
Customer relationships1.0 9
Trade names1.0 5
Total$4.3 
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 allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting 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 11/20/2019As of 11/20/2020
Total cash consideration transferred$332.1 $(0.8)$331.3 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents3.4 — 3.4 
Receivables, net9.8 — 9.8 
Inventories, net2.7 (0.3)2.4 
Contract assets29.1 (4.5)24.6 
Prepaid expenses and other current assets2.3 (0.9)1.4 
Property, plant and equipment12.9 — 12.9 
Definite-lived intangible assets135.4 (2.7)132.7 
Other long-term assets7.1 (0.3)6.8 
Accounts payable(6.0)0.2 (5.8)
Income tax payable(0.7)0.8 0.1 
Accrued and other current liabilities(7.0)— (7.0)
Other long-term liabilities(8.1)1.1 (7.0)
Deferred income taxes(27.1)8.1 (19.0)
Total identifiable net assets153.8 1.5 155.3 
Goodwill$178.3 $(2.3)$176.0 
Acquired Definite-lived Intangible Assets The fair values and weighted average useful lives of the acquired definite-lived intangible assets are as follows:
(in millions)Fair ValueWeighted Average Useful Life
(in years)
Customer relationships$108.7 14
Technologies19.5 7
Trade names4.4 2
Total$132.6 
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, 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 1/11/2019As of 1/11/2020
Total cash consideration transferred$207.2 $— $207.2 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents5.2 — 5.2 
Receivables, net11.5 — 11.5 
Inventories, net39.5 (0.3)39.2 
Prepaid expenses and other current assets2.1 — 2.1 
Property, plant and equipment17.8 — 17.8 
Definite-lived intangible assets109.3 0.8 110.1 
Other long-term assets9.5 — 9.5 
Accounts payable(5.9)— (5.9)
Income tax payable1.7 — 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 assets144.2 0.2 144.4 
Goodwill$63.0 $(0.2)$62.8