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Acquisitions | 6 Months Ended
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Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract] |
Acquisitions | Acquisitions Hello Products LLC (“hello”) On January 31, 2020, the Company acquired hello, an oral care business, for cash consideration of $351. The acquisition was financed with a combination of debt and cash. This acquisition is part of the Company’s strategy to focus on high growth segments within its Oral Care, Personal Care and Pet Nutrition businesses. The total purchase price consideration of $351 was allocated to the net assets acquired based on their respective estimated fair values as follows:
Receivables | $ | 11 |
Inventories | 13 |
Other assets and liabilities, net | (4) |
Other intangible assets | 160 |
Goodwill | 171 |
Fair value of net assets acquired | $ | 351 |
Other intangible assets acquired include trademarks, valued at $115, which are considered to have a finite useful life of 25 years, and customer relationships, valued at $45, which are considered to have a finite useful life of 17 years. Goodwill of $171 was allocated to the North America segment. The Company expects that goodwill will be deductible for tax purposes. 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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