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Acquisitions and Divestiture
6 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]  
Acquisitions and Divestiture
2.  Acquisitions and Divestiture
Consolidated Container
During the first six months of 2019, Consolidated Container paid approximately $
260 
million to complete three acquisitions of plastic packaging manufacturers located in the U.S. and Canada, including the acquisition on June 14, 2019 of Tri State Distribution, Inc., a retail pharmaceutical packaging solutions provider. Operating results for the three acquisitions from the acquisition dates through the end of the period are not significant. The preliminary allocation of the purchase prices for the three acquisitions resulted in the recognition of a
pproximately $
102
 million of goodwill and approximately $
89
 million
of intangible assets, primarily related to customer relationships, and are subject to change within the respective measurement periods. The acquisitions were funded
with approximately $
250
 million of debt
financing proceeds at Consolidated Container, as discussed in Note 7, and available cash.
Loews Hotels & Co
Loews Hotels & Co sold an owned hotel for approximately $127 million in May of 2019.