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Acquisitions | 9 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
Acquisitions | Acquisitions Acquisition of Laboratoires Filorga Cosmétiques (“Filorga”) On September 19, 2019 (the “Acquisition Date”), the Company acquired the Filorga skin health business for cash consideration of €1,516 (approximately $1,674), which included interest on the equity purchase price, plus additional consideration of €32 (approximately $38), the majority of which related to repayment of loans from former shareholders of Filorga. Filorga is a premium anti-aging skin health brand focused primarily on facial care. This acquisition is part of the Company’s strategy to focus on its higher-margin oral care, personal care and pet nutrition businesses, including by expanding its portfolio in premium skin health. The total purchase price consideration of $1,712 has been allocated to the net assets acquired based on their respective preliminary estimated fair values as follows:
Cash | $ | 30 |
Receivables | 53 |
Inventories | 72 |
Other current assets | 18 |
Other intangible assets | 946 |
Goodwill | 1,002 |
Other current liabilities | (67 | )
Deferred income taxes | (252 | )
Noncontrolling interests | (90 | )
Fair value of net assets acquired | $ | 1,712 |
Other intangible assets acquired include trademarks of $692, which are considered to have an indefinite useful life, and customer relationships of $254, which have a finite life. Goodwill of $1,002 was allocated to the Europe segment. The Company expects that goodwill will not be deductible for tax purposes. The preliminary estimates of the fair value of identifiable assets acquired and liabilities assumed are subject to revisions, which may result in adjustments to the preliminary values discussed above. The Company expects to finalize the purchase price allocation no later than the third quarter of 2020. The results of operations of Filorga for the period from the Acquisition Date through September 30, 2019 were not material to the Company’s Consolidated results of operations and are not included in the Company’s Condensed Consolidated results of operations for the three month period ended September 30, 2019. Filorga’s results of operations will be included in the Company’s Consolidated results of operations for the three month period ended December 31, 2019. Pro forma results of operations have not been presented as the impact on the Company’s Condensed Consolidated Financial Statements is not material. Nigeria Joint Venture On August 15, 2019, the Company acquired a 51% controlling interest in Colgate Tolaram Pte. Ltd., a joint venture which owns the Nigeria-based Hypo Homecare Products Limited, for $31. Pro forma results of operations have not been presented as the impact on the Company’s Condensed Consolidated Financial Statements is not material.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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