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Acquisition of Green Smoke | 6 Months Ended
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Jun. 30, 2014
Business Combinations [Abstract] |
Acquisition of Green Smoke | Acquisition of Green Smoke: On April 1, 2014, Nu Mark acquired the e-vapor business of Green Smoke, Inc. and its affiliates (“Green Smoke”) for a total purchase price of up to approximately $130 million, which includes contingent consideration and is subject to post-closing adjustments. The acquisition complements Nu Mark’s capabilities and enhances its competitive position by adding e-vapor experience, broadening product offerings and strengthening supply chain capabilities. Green Smoke’s financial position and results of operations have been consolidated with Altria Group, Inc. as of April 1, 2014. Pro forma results, as well as net revenues and net earnings for Green Smoke subsequent to the acquisition, have not been presented because the acquisition of Green Smoke is not material to Altria Group, Inc.’s consolidated results of operations. The following amounts represent the fair value of identifiable assets acquired and liabilities assumed in the Green Smoke acquisition, and are subject to post-closing adjustments, which are expected to be finalized during 2014:
| (in millions)
Cash and cash equivalents | $ | 3 |
Inventory and other current assets | 12 |
Indefinite-lived intangible asset - trademark | 10 |
Definite-lived intangible assets | 1 |
Current liabilities | (8 | )
Other assets and liabilities, net | 1 |
Total identifiable net assets | 19 |
Total purchase price | 130 |
Goodwill | $ | 111 |
Costs incurred to effect the acquisition, as well as integration costs, are being recognized as expenses in the periods in which the costs are incurred. For the six and three months ended June 30, 2014, Altria Group, Inc. incurred $9 million of integration and acquisition-related costs, consisting primarily of transaction costs and inventory adjustments, which were included in Altria Group, Inc.’s condensed consolidated statements of earnings.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References No definition available. + Details
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