Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The purchase price allocations at fair value, net of cash acquired, for 2020 and 2019 acquisitions as of December 31, 2020 and 2019 are presented below:


	2020		2019
Assets:
Accounts receivable	$	2.7	$	26.1
Inventories	16.4		59.4
Other current assets	0.1		5.1
Property, plant and equipment	10.9		57.4
Operating lease assets	—		5.1
Goodwill	—		52.6
Other intangible assets	—		84.3
Other non-current assets	—		0.9
Total assets acquired	$	30.1	$	290.9
Liabilities:
Accounts payable, trade	$	0.8	$	10.6
Salaries, wages and benefits	—		6.8
Income taxes payable	—		2.1
Other current liabilities	0.9		7.1
Short-term debt	—		0.8
Long-term debt	—		17.2
Accrued pension cost	—		0.8
Accrued postretirement liability	—		0.1
Long-term operating lease liabilities	—		4.5
Deferred taxes	—		2.9
Other non-current liabilities	—		1.1
Total liabilities assumed	$	1.7	$	54.0
Noncontrolling interest acquired	—		1.8
Net assets acquired	$	28.4	$	235.1
Cash flow reconciling items:
Working capital adjustment related to 2018 acquisitions paid in 2019	$	—	$	2.9
Working capital adjustment for 2019 acquisitions paid (recognized) in 2020	6.7		(6.7)
Indemnification settlement received	—		(4.8)
Bargain purchase price gain	(11.1)		—
Cash paid for acquisitions, net of cash acquired	$	24.0	$	226.5

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the purchase price allocation at fair value for identifiable intangible assets acquired in 2019:


	2019
				Weighted- Average Life
Trade names (indefinite life)		$	28.2	Indefinite

Technology and know-how		22.4		17 years
Customer relationships		33.3		19 years

Capitalized software		0.5		2 years
Total intangible assets		$	84.4