Company: NPO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001164863-25-000009
Chunk: 507

Company: Enpro Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 507
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 to cost of goods sold in the first quarter of 2024. The purchase price allocation of this acquisition, including the value of intangible assets and income tax assets and liabilities, was finalized in the fourth quarter of 2024. The allocation of purchase price was revised during the fourth quarter of 2024 to increase deferred income tax liabilities by $0.2 million, with an offsetting $0.2 million increase to goodwill. 

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Identifiable intangible assets acquired are as follows:Weighted-average amortization periodDefinite-lived intangible assets acquired:(in millions)(years)Customer relationships$12.0 15.0Existing technology106.0 15.0Trademarks5.0 10.0Other1.1 3.3Total definite-lived intangible assets124.1 14.7Indefinite-lived intangible assets acquired:In-process research and development14.0 Identifiable intangible assets acquired$138.1  The following table represents the final allocation of purchase price as of December 31, 2024:(in millions)Accounts receivable$3.3 Inventories5.2 Property, plant, and equipment0.2 Goodwill97.0 Other intangible assets138.1 Other assets0.9 Deferred income taxes(32.6)Other liabilities(2.7)$209.4 Sales of $32.1 million and pre-tax income of $6.9 million for AMI was included in our Consolidated Statements of Operations for the year ended December 31, 2024. The following unaudited pro forma condensed consolidated financial results of operations for the years ended December 31, 2024 and 2023 are presented as if the acquisition had been completed on January 1, 2023:Year Ended December 3120242023Pro forma net sales$1,051.5 $1,090.7 Pro forma income from continuing operations$75.6 $2.8 These amounts have been calculated after applying our accounting policies and adjusting the results of AMI to reflect the additional depreciation and amortization that would have been charged assuming the fair value adjustments to intangible assets had been applied as of January 1, 2023. The supplemental pro forma net income for the year ended December 31, 2024 was adjusted to exclude $3.9 million of pre-tax acquisition-related costs related to AMI. The pro forma financial