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Acquisitions | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Acquisitions | Acquisitions During the year ended December 31, 2024, the Company acquired Revela Foods, LLC (“Revela”), a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions, Fuerst Day Lawson Ltd. (“FDL”), a UK-based leading developer and producer of premium flavor and functional ingredient systems, PT Trouw Nutrition Indonesia (“PT”), a leading provider of functional and nutritional solutions for livestock farming in Indonesia, and Totally Natural Solutions Ltd. (“TNS”), a UK-based hops flavoring producer, for an aggregate cash consideration of $948 million. The aggregate cash consideration of these acquisitions, net of $21 million in cash acquired, was allocated as follows, subject to final measurement period adjustments (in millions).
| Revela | FDL | PT | TNS | Total
Working capital, net of cash acquired | $ | 49 |  | $ | 10 |  | $ | 6 |  | $ | 2 |  | $ | 67 |
Property, plant, and equipment | 38 |  | 33 |  | 6 |  | 2 |  | 79 |
Goodwill | 409 |  | 136 |  | 3 |  | 9 |  | 557 |
Other intangible assets | 166 |  | 93 |  | — |  | 10 |  | 269 |
Other long-term assets | 28 |  | 10 |  | — |  | — |  | 38 |
Long-term liabilities | (42) |  | (41) |  | — |  | — |  | (83) |
Aggregate cash consideration, net of cash acquired | $ | 648 |  | $ | 241 |  | $ | 15 |  | $ | 23 |  | $ | 927 |
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 $557 million allocated to goodwill, $373 million is expected to be deductible for tax purposes. These acquisitions add capabilities to the Company’s Nutrition segment. The Company’s Consolidated Statements of Earnings for the year ended December 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 as of December 31, 2024.
| Useful Lives | Revela | FDL | TNS | Total
| (In years) | (In millions)
Intangible assets with finite lives: |  |  |  |  |  |  |
Customer lists | 10 | to | 18 | $ | 124 |  | $ | 73 |  | $ | 8 |  | $ | 205 |
Recipes and others | 10 | to | 21 | 42 |  | 20 |  | 2 |  | 64 |
Total other intangible assets acquired |  |  |  | $ | 166 |  | $ | 93 |  | $ | 10 |  | $ | 269 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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