Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table presents the purchase price allocation at fair value for the ARB acquisition as of March 31, 2023.

	Initial Purchase Price Allocation
Assets:
Accounts receivable	$	4.7
Inventories	19.2
Other current assets	0.6
Property, plant and equipment	12.8
Other intangible assets	0.1
Total assets acquired	$	37.4
Liabilities:
Accounts payable, trade	$	2.8
Salaries, wages and benefits	0.1
Other current liabilities	3.0
Total liabilities assumed	$	5.9
Net assets acquired	$	31.5

The following table presents the updated purchase price allocation at fair value, net of cash acquired, for the 2022 acquisitions, as of March 31, 2023:

	Initial Purchase Price Allocation		Adjustments		Updated Purchase Price Allocation
Assets:
Accounts receivable	$	30.6	$	—	$	30.6
Inventories	52.3		(0.6)		51.7
Other current assets	7.6		—		7.6
Property, plant and equipment	153.6		(3.5)		150.1
Goodwill	106.9		(2.4)		104.5
Other intangible assets	182.6		(0.8)		181.8
Other assets	12.1		3.5		15.6
Total assets acquired	$	545.7	$	(3.8)	$	541.9
Liabilities:
Accounts payable, trade	$	16.8	$	(0.5)	$	16.3
Salaries, wages and benefits	11.8		—		11.8
Income taxes payable	3.2		—		3.2
Other current liabilities	7.0		(1.0)		6.0
Accrued pension benefits	3.2		—		3.2
Deferred income taxes	30.0		—		30.0
Other non-current liabilities	20.0		—		20.0
Total liabilities assumed	$	92.0	$	(1.5)	$	90.5
Net assets acquired	$	453.7	$	(2.3)	$	451.4