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Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocation of Net Tangible and Intangible Assets Acquired and Liabilities Assumed

We are working to complete the valuation and have recorded a preliminary purchase price allocation of:

			(in millions)
Cash			$	99
Receivables			76
Inventory			124
Other current assets			9
Property, plant and equipment			186
Operating leases right of use assets			22
Deferred tax assets			93
Definite life intangible assets			200
Indefinite life intangible assets			1,450
Goodwill			1,016
Other assets			14
Assets acquired			$	3,289
Current liabilities			159
Contingent consideration			440
Other liabilities			15
Total purchase price			2,675
Less: cash received			(99)
Net Cash Paid			$	2,576

We are working to complete the valuation and have recorded a preliminary purchase price allocation of:

			(in millions)
Cash			$	52
Receivables			102
Inventory			60
Other current assets			3
Property, plant and equipment			383
Finance leases right of use assets			8
Definite life intangible assets			48
Indefinite life intangible assets			686
Goodwill			791
Other assets			77
Assets acquired			$	2,210
Current liabilities			133
Deferred tax liability			158
Finance lease liabilities			8
Other liabilities			21
Total purchase price			$	1,890
Less: long-term debt			(436)
Less: cash received			(52)
Net Cash Paid			$	1,402

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- References

No definition available.

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X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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