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Acquisitions | 3 Months Ended
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Mar. 31, 2024
Business Combinations [Abstract] |
Acquisitions | Acquisitions During the three months ended March 31, 2024, the Company acquired Revela Foods (“Revela”), a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions, FDL, a UK-based leading developer and producer of premium flavor and functional ingredient systems, and PT Trouw Nutrition Indonesia (“PT”), a subsidiary of Nutreco and leading provider of functional and nutritional solutions for livestock farming in Indonesia, for an aggregate cash consideration of $924 million. The aggregate cash consideration of these acquisitions, net of $9 million in cash acquired, was allocated as follows, subject to final measurement period adjustments:
(In millions) | Revela | FDL | PT | Total
Working capital | $ | 50 |  | $ | — |  | $ | 5 |  | $ | 55 |
Property, plant, and equipment | 38 |  | 33 |  | 5 |  | 76 |
Goodwill | 403 |  | 145 |  | 5 |  | 553 |
Other intangible assets | 166 |  | 97 |  | — |  | 263 |
Other long-term assets | 28 |  | 1 |  | — |  | 29 |
Long-term liabilities | (35) |  | (26) |  | — |  | (61) |
Aggregate cash consideration | $ | 650 |  | $ | 250 |  | $ | 15 |  | $ | 915 |
Goodwill recorded in connection with the acquisitions is primarily attributable to the synergies expected to arise after the Company’s acquisition of the businesses. Of the $553 million allocated to goodwill, none is expected to be deductible for tax purposes. These acquisitions add capabilities to the Human and Animal Nutrition businesses. The Company’s consolidated statement of earnings for the quarter ended March 31, 2024 includes the post-acquisition results of the acquired businesses which were immaterial. The following table sets forth the fair values and the useful lives of the other intangible assets acquired.
| Useful Lives | Revela | FDL | Total
| (In years) | (In millions)
Intangible assets with finite lives: |  |  |  |  |  |
Trademarks/brands | 3 |  |  | $ | — |  | $ | 4 |  | $ | 4 |
Customer lists | 10 | to | 18 | 124 |  | 73 |  | 197 |
Recipes and others | 10 | to | 21 | 42 |  | 20 |  | 62 |
Total other intangible assets acquired |  |  |  | $ | 166 |  | $ | 97 |  | $ | 263 |

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