Acquisitions (Tables)

6 Months Ended

Jun. 30, 2024

Business Combinations [Abstract]

Preliminary Determination of Fair Value of Identifiable Assets Acquired and Liabilities Assumed

The following amounts represent the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed in the Casa Transaction as of the acquisition date:


		June 7, 2024
Purchase price
Total cash consideration paid		$	45.1

Assets
Accounts receivable, net (1)		$	4.4
Inventories, net			13.6
Property, plant and equipment			2.6
Goodwill			2.2
Identifiable intangible assets			24.1
Other noncurrent assets			1.2
Less: Liabilities assumed
Accounts payable and accrued and other liabilities			2.3
Other noncurrent liabilities			0.7
Fair value allocated to net assets acquired		$	45.1

(1)

The fair value of accounts receivable, net is $4.4 million with a gross contractual amount of $11.7 million. The Company expects $7.3 million to be uncollectible.

Summary of Preliminary Valuations of Finite Lived Intangible Assets Acquired

The table below summarizes the preliminary valuations of the intangible assets acquired that were determined by management to meet the criteria for recognition apart from goodwill and determined to have finite lives. The values presented below are preliminary estimates and are subject to change as management completes its valuation of the Casa Transaction:


		Estimated Fair Value				Weighted Average Estimated Useful Life (In Years)
Customer relationships		$	5.8			12
Existing technology			18.3			7
Total amortizable intangible assets		$	24.1