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Acquisitions | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Acquisitions | Acquisitions On April 30, 2025, the Company acquired Care TopCo Pty Ltd, the owner of the Prime100 pet food business, for cash consideration of AU $471 (approximately $301). This acquisition provides the Company’s Hill’s Pet Nutrition segment with an entry into the fast-growing fresh pet food category in Australia. The acquisition was financed with a combination of debt and cash and was accounted for as a business combination in accordance with ASC 805. The total purchase price of $301 has been allocated to the net assets acquired based on their respective estimated fair values as follows:
Cash | $ | 8 |
Other current assets | 12 |
Property, plant and equipment | 13 |
Other assets | 4 |
Other intangible assets | 58 |
Goodwill | 214 |
Total liabilities | (8) |
Fair value of net assets acquired | $ | 301 |
Goodwill of $214 was allocated to the Hill's Pet Nutrition segment. The Company expects that goodwill will be deductible for tax purposes. Other intangible assets acquired include trademarks, customer relationships and product formulations, which have useful lives ranging from five to 15 years. 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 second quarter of 2026. Pro forma results of operations have not been presented as the impact on the Company’s Consolidated Financial Statements is not material.

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