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Background and Nature of Operations (Tables) | 9 Months Ended
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Sep. 29, 2012
Purchase Price of Common Stock and Outstanding Common Stock | Based on the price of Pentair, Inc. common stock and our common shares issued on the date of the Merger, the purchase price was composed of the following:
(in thousands) |  |  |
Value of common shares issued to Tyco shareholders (1) |  | $ | 4,811,363 |
Cash paid to Tyco shareholders in lieu of fractional common shares (2) |  |  | 542 |
Value of replacement equity-based awards to holders of Tyco equity-based awards (3) |  |  | 92,349 |
Purchase Price |  | $ | 4,904,254 |
(1) | Equals 110,886,444 Pentair Ltd. shares distributed to Tyco shareholders multiplied by the Merger date share price of $43.39.
(2) | Equals cash paid to Tyco shareholders in lieu of 12,490 Pentair Ltd. fractional shares multiplied by the Merger date share price of $43.39.
(3) | In accordance with applicable accounting guidance, the fair value of replacement equity-based awards attributable to pre-combination service is recorded as part of the consideration transferred in the Merger, while the fair value of replacement equity-based awards attributable to post-combination service is recorded separately from the business combination and recognized as compensation cost in the post-acquisition period over the remaining service period. The fair value of our equivalent stock options was estimated using the Black-Scholes valuation model utilizing various assumptions.
Estimated Fair Values of Assets Acquired and Liabilites Assumed | The following table summarizes our preliminary estimates of the fair values of the assets acquired and liabilities assumed in the Merger:
(in thousands) |  |  |
Cash |  | $ | 691,702 |
Accounts receivable |  |  | 774,277 |
Inventories |  |  | 926,699 |
Other current assets |  |  | 120,448 |
Property, plant and equipment |  |  | 766,948 |
Identifiable intangible assets |  |  | 1,385,000 |
Other non-current assets |  |  | 247,210 |
Goodwill |  |  | 2,487,552 |
Current liabilities |  |  | (823,833) |
Long-term debt |  |  | (914,530) |
Deferred income taxes, including current |  |  | (272,265) |
Other liabilities and redeemable noncontrolling interest |  |  | (484,954) |
Purchase price |  | $ | 4,904,254 |

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