Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2016

Acquisitions and Divestitures [Abstract]

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

he purchase price allocations, net of cash acquired, and any subsequent purchase price adjustments for acquisitions in 2016, 2015 and 2014 are presented below:

	2016		2015		2014
Assets:
Accounts receivable	$	8.4	$	13.3	$	4.5
Inventories	17.8		48.5		5.4
Other current assets	5.3		1.1		0.3
Property, plant and equipment	16.5		37.9		2.8
Goodwill	30.6		70.8		4.7
Other intangible assets	27.9		63.9		7.5
Other non-current assets	0.1		—		—
Total assets acquired	$	106.6	$	235.5	$	25.2
Liabilities:
Accounts payable, trade	$	8.1	$	10.2	$	2.3
Salaries, wages and benefits	1.3		1.1		—
Other current liabilities	4.4		1.3		1.0
Long-term debt	2.2		—		—
Accrued pension cost	—		2.3		—
Accrued postretirement liability	—		1.1		—
Deferred taxes	10.4		5.9		—
Other non-current liabilities	7.6		—		0.5
Total liabilities assumed	$	34.0	$	21.9	$	3.8
Net assets acquired	$	72.6	$	213.6	$	21.4

Business Acquisition Purchase price allocation identifiable intangible assets

he following table summarizes the final purchase price allocation for identifiable intangible assets acquired in 2015:

	Purchase Price Allocation
			Weighted- Average Life
Trade name	$	1.7	11 years
Technology / Know-how	17.1		20 years
All customer relationships	43.9		20 years
Non-compete agreements	1.2		3 years
Total intangible assets	$	63.9

The following table summarizes the preliminary purchase price allocation for identifiable intangible assets acquired in 2016:

	Purchase Price Allocation
			Weighted- Average Life
Trade name (not subject to amortization)	$	3.7	Indefinite
Trade name	0.2		5 years
Technology / Know-how	10.1		19 years
All customer relationships	13.5		20 years
Non-competition agreements	0.2		5 years
Favorable leases	0.1		2 years
Capitalized software	0.1		4 years
Total intangible assets	$	27.9