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v3.20.1

Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2020
Acquisitions |
Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities | The following table summarizes the consideration transferred to acquire Providien and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with Accounting Standards Codification ("ASC") 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation studies.
|  | Preliminary Allocation |  | Measurement Period Adjustments |  | Preliminary Allocation
(in millions) |  | As of 11/20/2019 |  |  |  | As of 3/31/2020
Total cash consideration transferred |  | $ | 332.1 |  |  |  | $ | (0.8) |  |  |  | $ | 331.3 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |  |  |
Cash and cash equivalents |  | 3.4 |  |  | — |  |  | 3.4 |
Receivables, net |  | 38.9 |  |  | — |  |  | 38.9 |
Inventories, net |  | 2.7 |  |  | — |  |  | 2.7 |
Prepaid expenses and other current assets |  | 2.3 |  |  | — |  |  | 2.3 |
Property, plant and equipment |  | 12.9 |  |  | — |  |  | 12.9 |
Definite-lived intangible assets |  | 135.4 |  |  | (2.7) |  |  | 132.7 |
Other long-term assets |  | 7.1 |  |  | (0.3) |  |  | 6.8 |
Accounts payable |  | (6.0) |  |  | — |  |  | (6.0) |
Income tax payable |  | (0.7) |  |  | — |  |  | (0.7) |
Accrued and other current liabilities |  | (7.0) |  |  | — |  |  | (7.0) |
Other long-term liabilities |  | (8.1) |  |  | 0.5 |  |  | (7.6) |
Deferred income taxes |  | (27.1) |  |  | 6.9 |  |  | (20.2) |
Total identifiable net assets |  | 153.8 |  |  |  | 4.4 |  |  |  | 158.2 |
Goodwill |  | $ | 178.3 |  |  |  | $ | (5.2) |  |  |  | $ | 173.1 |
Petersen Aluminum Corporation |
Acquisitions |
Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities | The following table summarizes the consideration transferred to acquire Petersen and the allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill.
|  | Preliminary Allocation |  | Measurement Period Adjustments |  | Final Allocation
(in millions) |  | As of 1/11/2019 |  |  |  | As of 12/31/2019
Total cash consideration transferred |  | $ | 207.2 |  |  |  | $ | — |  |  |  | $ | 207.2 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |  |  |
Cash and cash equivalents |  | 5.2 |  |  | — |  |  | 5.2 |
Receivables, net |  | 11.5 |  |  | — |  |  | 11.5 |
Inventories, net |  | 39.5 |  |  | (0.3) |  |  | 39.2 |
Prepaid expenses and other current assets |  | 2.1 |  |  | — |  |  | 2.1 |
Property, plant and equipment |  | 17.8 |  |  | — |  |  | 17.8 |
Definite-lived intangible assets |  | 109.3 |  |  | 0.8 |  |  | 110.1 |
Other long-term assets |  | 9.5 |  |  | — |  |  | 9.5 |
Accounts payable |  | (5.9) |  |  | — |  |  | (5.9) |
Income tax payable |  | 1.7 |  |  | — |  |  | 1.7 |
Accrued and other current liabilities |  | (8.7) |  |  | — |  |  | (8.7) |
Other long-term liabilities |  | (12.4) |  |  | (0.1) |  |  | (12.5) |
Deferred income taxes |  | (25.4) |  |  | (0.2) |  |  | (25.6) |
Total identifiable net assets |  | 144.2 |  |  |  | 0.2 |  |  |  | 144.4 |
Goodwill |  | $ | 63.0 |  |  |  | $ | (0.2) |  |  |  | $ | 62.8 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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