v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination
The amounts below represent the preliminary estimation of the fair value of identifiable assets acquired and liabilities assumed from the acquisition of Antares Vision, pending the finalization of certain tangible assets and liabilities to be completed within the measurement period as required by ASC Topic 805 “Business Combination” (“ASC 805”).
Net assets acquired (in millions)
Cash and cash equivalents$57.1 
Accounts receivable, net54.1 
Inventories, net47.9 
Other current assets20.3 
Property, plant and equipment32.7 
Other non-current assets11.4 
Intangible assets230.6 
Goodwill277.1 
Total assets acquired$731.2 
Short-term borrowings$126.3 
Contract liabilities44.8 
Other current liabilities63.5 
Long-term debt5.8 
Other liabilities73.7 
Total assumed liabilities$314.1 
Net assets acquired$417.1 
The following is a summary of the purchase consideration transferred:
Fair value of previously held equity investment$135.4 
Cash consideration transferred to acquire control281.9 
Fair value of nonredeemable noncontrolling interest(0.2)
Total consideration of Antares Vision acquisition$417.1 
The following amounts represent the determination of the fair value of identifiable assets acquired and liabilities assumed from our acquisition of DLR. The fair value of certain assets and liabilities has been completed as required by ASC 805.
Net assets acquired (in millions)
Accounts receivable, net$19.9 
Inventories, net20.0 
Other current assets6.5 
Property, plant and equipment24.2 
Other non-current assets5.5 
Intangible assets184.9 
Goodwill192.2 
Total assets acquired$453.2 
Total current liabilities$16.3 
Other liabilities45.8 
Total assumed liabilities$62.1 
Net assets acquired$391.1 
Business Combination, Intangible Asset, Acquired, Finite-Lived and Indefinite-Lived
The amounts allocated to acquired intangible assets, and their associated weighted-average useful lives which were determined based on the period in which the assets are expected to contribute directly or indirectly to our future cash flows, consist of the following:
Intangible Assets (in millions)Intangible Fair ValueWeighted Average Life (in years)
Customer relationships$146.6 12.3
Trade names17.3 6.0
Developed technology46.2 5.0
Backlog20.5 2.5
Total acquired intangible assets$230.6 
The amounts allocated to acquired intangible assets, and their associated weighted-average useful lives which were determined based on the period in which the assets are expected to contribute directly or indirectly to our future cash flows, consist of the following:
Intangible Assets (in millions)Intangible Fair ValueWeighted Average Life (in years)
Customer relationships$141.5 18.2
Developed technology40.7 5.0
Backlog2.7 0.9
Total acquired intangible assets$184.9 
Supplemental Pro Forma Data
Three Months Ended June 30, Six Months Ended June 30,
(in millions)2026202520262025
Net sales$493.2 $464.7 $922.8 $865.9 
Net income attributable to common shareholders$43.8 19.941.717.0