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Acquisitions (Tables)

9 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Schedule of Fair Value of Consideration Exchanged

The following table summarizes the fair value of consideration exchanged:

Bemis shares outstanding at June 11, 2019 (in millions)						91.7
Share exchange ratio						5.1
Price per share (based on Amcor’s closing share price on June 11, 2019)						$	11.18
Total equity consideration ($ in millions)						$	5,229.6

Schedule of Allocation of Fair Value of Net Assets Acquired

The allocation of fair value for the assets and liabilities acquired remains preliminary given the number of global locations acquired and may continue to be adjusted up to one year after the acquisition. Accordingly, final determination of the fair values may result in further adjustments to the values presented in the following table.

($ in millions)
Cash and cash equivalents						$	3.3
Trade receivables						433.8
Inventories						673.5
Prepaid expenses and other current assets						82.0
Assets held for sale						464.2
Property, plant and equipment						1,220.7
Deferred tax assets						35.5
Other intangible assets						1,931.4
Other non-current assets						47.0
Total identifiable assets acquired						4,891.4
Current portion of long-term debt						1.7
Short-term debt						8.6
Trade payables						288.2
Accrued employee costs						165.6
Other current liabilities						304.4
Liabilities held for sale						21.9
Long-term debt, less current portion						1,365.3
Deferred tax liabilities						618.9
Employee benefit obligation						62.6
Other non-current liabilities						79.5
Total liabilities assumed						2,916.7
Net identifiable assets acquired						1,974.7
Goodwill						3,254.9
Net assets acquired						$	5,229.6

Schedule of Identifiable Intangible Assets Acquired

The following table details the preliminary identifiable intangible assets acquired from Bemis, their fair values and estimated useful lives:

						Fair Value						Weighted-average Estimated Useful Life
						($ in millions)						(Years)
Customer relationships						$	1,650.0					15
Technology						110.0						7
Other						171.4						7
Total other intangible assets						$	1,931.4

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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