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Background and Nature of Operations (Tables) | 12 Months Ended
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Dec. 31, 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) |  |  | 111,239 |
Total purchase price |  | $ | 4,923,144 |
| (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 fair values of the assets acquired and liabilities assumed in the Merger:
In thousands |  |  |
Cash and cash equivalents |  | $ | 691,702 |
Accounts and notes receivable |  |  | 771,576 |
Inventories |  |  | 1,046,165 |
Other current assets |  |  | 98,212 |
Property, plant and equipment |  |  | 822,001 |
Goodwill |  |  | 2,520,110 |
Intangibles |  |  | 1,425,072 |
Other non-current assets |  |  | 275,103 |
Current liabilities |  |  | (856,341 | )
Long-term debt |  |  | (914,530 | )
Income taxes, including current and deferred |  |  | (364,573 | )
Other liabilities and redeemable noncontrolling interest |  |  | (591,353 | )
Total purchase price |  | $ | 4,923,144 |

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