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Acquisitions | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Acquisitions | Acquisitions The Company acquired Neovia SAS (Neovia), Florida Chemical Company (FCC), and the Ziegler Group (Ziegler) in January 2019, March 2019, and May 2019, respectively. These acquisitions are in line with the Company’s strategy to become one of the world’s leading nutrition companies. The post-acquisition financial results of Neovia, FCC, and Ziegler are reported in the Nutrition segment. During the six months ended June 30, 2019, the Company acquired Neovia, FCC, Ziegler, and the remaining 50% interest in Gleadell Agriculture Ltd (Gleadell), for aggregate consideration of $2.0 billion in cash. The aggregate consideration of these acquisitions, net of $95 million in cash acquired, plus the acquisition-date value of the Company’s previously held equity interest in Gleadell of $15 million, were allocated as follows, subject to final measurement period adjustments:
In millions | Neovia | FCC | Ziegler | Gleadell | Total
Working capital | $ | 103 |  | $ | 40 |  | $ | 20 |  | $ | (6 | ) | $ | 157 |
Property, plant, and equipment | 405 |  | 17 |  | 3 |  | 13 |  | 438 |
Goodwill | 731 |  | 90 |  | 27 |  | 10 |  | 858 |
Other intangible assets | 659 |  | 23 |  | 24 |  | — |  | 706 |
Other long-term assets | 82 |  | — |  | 1 |  | 9 |  | 92 |
Long-term liabilities | (289 | ) | — |  | (7 | ) | (11 | ) | (307 | )
Aggregate cash consideration, net of cash acquired, plus acquisition-date fair value of previously held equity interest | $ | 1,691 |  | $ | 170 |  | $ | 68 |  | $ | 15 |  | $ | 1,944 |
Goodwill allocated in connection with the acquisitions is primarily attributable to synergies expected to arise after the Company’s acquisition of the businesses. Of the $858 million preliminarily allocated to goodwill, $90 million is expected to be deductible for tax purposes. The Company recognized pre-tax gains of $3 million on the Gleadell transaction, representing the difference between the carrying value and acquisition-date fair value of the Company’s previously held equity interest. The acquisition-date fair value was determined based on a discounted cash flow analysis using market participant assumptions (a Level 3 measurement under applicable accounting standards). The following table sets forth the preliminary fair values and the useful lives of the other intangible assets acquired.
| Useful Lives | Neovia | FCC | Ziegler | Total
| (In years) | (In millions)
Intangible assets with finite lives: |  |  |  |  |  |  |
Trademarks/brands | 5 | to | 15 | $ | 215 |  | $ | 7 |  | $ | 3 |  | $ | 225 |
Customer lists | 10 | to | 20 | 306 |  | 12 |  | 5 |  | 323 |
Developed technology | 6 | to | 11 | 138 |  | 4 |  | 16 |  | 158 |
Total other intangible assets acquired |  |  |  | $ | 659 |  | $ | 23 |  | $ | 24 |  | $ | 706 |

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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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