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Subsequent Events | Oct. 01, 2020
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Subsequent Events [Abstract] |
Subsequent Events | Subsequent Event - AcquisitionOn October 1, 2020, we acquired Softex Indonesia, a leader in the fast-growing Indonesian personal care market, in an all-cash transaction for approximately $1.2 billion. This transaction significantly expands our presence in an important developing and emerging market and is a strong strategic fit with our core business. Softex Indonesia generated net sales of approximately $420 in 2019. We financed the transaction through a combination of short-term commercial paper, cash on hand and the issuance of a $600 bond. During the quarter ended September 30, 2020, we recorded acquisition-related costs of $9 in Marketing, research and general expenses. We will consolidate Softex into our financial statements beginning in the fourth quarter of 2020 after completing a purchase price allocation. The consolidated results for Softex Indonesia will be reported as part of our Personal Care business segment on a one-month lag.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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