Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2017

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 2017, 2016 and 2015 are presented below:

	2017		2016		2015
Assets:
Accounts receivable	$	27.6	$	8.4	$	13.3
Inventories	29.4		17.8		48.5
Other current assets	3.3		5.3		1.1
Property, plant and equipment	31.5		16.5		37.9
Goodwill	149.7		30.6		70.8
Other intangible assets	173.6		27.9		63.9
Other non-current assets	1.8		0.1		—
Total assets acquired	$	416.9	$	106.6	$	235.5
Liabilities:
Accounts payable, trade	$	9.5	$	8.1	$	10.2
Salaries, wages and benefits	5.8		1.3		1.1
Other current liabilities	8.6		4.4		1.3
Short-term debt	0.1		—		—
Long-term debt	2.9		2.2		—
Accrued pension cost	—		—		2.3
Accrued postretirement liability	—		—		1.1
Deferred taxes	42.2		10.4		5.9
Other non-current liabilities	1.0		7.6		—
Total liabilities assumed	$	70.1	$	34.0	$	21.9
Net assets acquired	$	346.8	$	72.6	$	213.6

Business Acquisition Purchase price allocation identifiable intangible assets

he following table summarizes the final purchase price allocation for identifiable intangible assets acquired in 2016:

			Weighted- Average Life
Trade names (indefinite life)	$	3.7	Indefinite
Trade names (finite life)	0.2		5 years
Technology and know-how	10.1		19 years
Customer relationships	13.5		20 years
Other	0.3		4 years
Capitalized software	0.1		4 years
Total intangible assets	$	27.9

The following table summarizes the preliminary purchase price allocation for identifiable intangible assets acquired in 2017:

			Weighted- Average Life
Trade names (indefinite life)	31.1		Indefinite
Trade names (finite life)	2.2		13 years
Technology and know-how	29.8		16 years
Customer relationships	108.9		17 years
Other	0.2		5 years
Capitalized software	1.4		3 years
Total intangible assets	$	173.6