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Acquisitions (Tables)
3 Months Ended
Mar. 31, 2019
Business Combinations [Abstract]  
Schedule of assets acquired and liabilities assumed
The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed (in thousands) as of October 4, 2018:
 
As reported in the fourth quarter of 2018
 
Measurement period adjustments
 
As reported in the first quarter of 2019
Cash and cash equivalents
$
140,747

 
 
 
$
140,747

Other current assets
699,627

 
 
 
699,627

Identifiable intangible assets
2,690,000

 
(21,700
)
 
2,668,300

Other assets
353,710

 
43,200

 
396,910

Equity method investments
25,791

 
 
 
25,791

Current liabilities
(311,325
)
 
 
 
(311,325
)
Debt assumed
(77,037
)
 
 
 
(77,037
)
Other liabilities
(632,488
)
 
(12,221
)
 
(644,709
)
Redeemable noncontrolling interest
(97,510
)
 
(5,700
)
 
(103,210
)
Noncontrolling interest
(3,700
)
 
 
 
(3,700
)
Goodwill
4,243,079

 
(3,579
)
 
4,239,500

Total Purchase Consideration
$
7,030,894

 
 
 
$
7,030,894

Schedule of intangible assets acquired
The preliminary amounts of the components of intangible assets with finite lives that have been recorded are as follows:
(IN THOUSANDS)
Estimated Amounts
 
Weighted-Average Useful Life
Product formula
$
290,000

 
10 to 12 years
Customer relationships
2,230,000

 
18 to 23 years
Trade names
140,000

 
23 to 26 years
Favorable/Unfavorable Leases, net
8,300

 
5 to 15 years
Total
$
2,668,300

 
 
Unaudited pro forma information
The unaudited pro forma results for the three months ended March 31, 2018 were as follows:
(IN THOUSANDS)
Three Months Ended March 31, 2018
Unaudited pro forma net sales
$
1,315,733

Unaudited pro forma net income attributable to the Company
112,620