Business Combinations and Acquisitions (Tables)
|12 Months Ended|
Dec. 31, 2022
|Business Combination and Asset Acquisition [Abstract]|
|Summary of Consideration Transferred by GSAH||
The following table summarizes the consideration transferred by GSAH:
(1)A total of 30,401,902 shares of Class A common stock were issued to the Sellers at fair value and recognition of noncontrolling interests for 8,560,540 shares Class B common stock at the Closing.
|Schedule of Recognized Identified Assets Acquired and Liabilities Assumed||
The following table summarizes the total business enterprise value, comprised of the fair value of net assets acquired for the Business Combination.
(1)The goodwill of $1,642.9 million represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired and liabilities assumed. Qualitative factors that contribute to the recognition of goodwill include certain intangible assets that are not recognized as separate identifiable intangible assets apart from goodwill. Intangible assets not recognized apart from goodwill consist primarily of the strong market position and the assembled workforce of Mirion TopCo. A portion of the goodwill recognized is expected to be deductible for income tax purposes.
(2)The useful life for customer relationships ranges from 6 to 13 years.
(3)The useful life for developed technology ranges from 5 to 16 years.
(4)The useful life for trade names is 10 years.
(5)The useful life for distributor relationships ranges from 7 to 13 years.
(6)The useful life for backlog ranges from 1 to 4 years.
(7)The useful life for non-compete agreements is 1 year.
The following table summarizes the total business enterprise value, comprised of the fair value of net assets acquired for the CIRS acquisition.
(1)The useful life for developed technology is 5 years.
(2)The useful life for customer relationships is 7 years.
(3)The useful life for trade names is 3 years.
(4)The useful life for backlog is 2 years.
The following summarizes the fair value of assets acquired and liabilities assumed for the Biodex and SNC acquisitions during the year ended June 30, 2021 (in millions):
The following useful lives were used for the initial acquisition and were all reassessed in connection with the Business Combination:
(1)The useful life for customer relationships ranges from 10 to 11 years
(2)The useful life for trade names is 7 years
(3)The useful life for non-compete agreements ranges from2 to 3 years.
(4)The useful life for developed technology ranges from 7 to 10 years.
(5)Biodex purchase consideration consisted of cash. SNC purchase consideration consisted of $261.9 million cash and $15.0 million of deferred consideration paid in February 2021.
|Schedule of Business Acquisition, Pro Forma Information||The unaudited pro forma financial information does not reflect the expected realization of any anticipated cost savings, operating efficiencies, or other synergies that may have been associated with the acquisition.
|Summary of Company's Acquisition Activity||
The following briefly describes the Company’s acquisition activity prior to the Business Combination for the Predecessor Periods ended October 19, 2021 and fiscal years ended June 30, 2021, and 2020.
Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef