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Acquisitions and Other Transactions (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The U.S. GAAP purchase price was $392.7 million, net of cash acquired. The preliminary allocation of the purchase price to the assets acquired and liabilities assumed for Oyster Point is as follows:
(In millions) |
Current assets (excluding inventories and net of cash acquired) | $ | 26.9 |
Inventories | 37.8 |
Property, plant and equipment | 1.4 |
Identified intangible assets | 334.0 |
Goodwill | 5.9 |
Deferred income tax benefit | 17.7 |
Other assets | 7.7 |
Total assets acquired | $ | 431.4 |
Current liabilities | 37.0 |
Other noncurrent liabilities | 1.7 |
Net assets acquired (net of $34.7 of cash acquired) | $ | 392.7 |
The preliminary allocation of the purchase price to the assets acquired and liabilities assumed for Famy Life Sciences is as follows:
(In millions) |
IPR&D | $ | 290.0 |
Goodwill | 89.3 |
Total assets acquired | $ | 379.3 |
Current liabilities | 2.2 |
Deferred tax liabilities | 52.1 |
Net assets acquired (net of $0.2 of cash acquired) | $ | 325.0 |
Business Acquisition, Pro Forma Information | The following table presents supplemental unaudited pro forma information for the acquisition, as if it had occurred on January 1, 2022. The unaudited pro forma results reflect certain adjustments related to past operating performance and acquisition accounting adjustments, such as increased amortization expense based on the fair value of assets acquired, the impact of transaction costs and the related income tax effects. The unaudited pro forma results do not include any anticipated synergies which may be achievable, or have been achieved, subsequent to the closing of the acquisition. Accordingly, the unaudited pro forma results are not necessarily indicative of the results that actually would have occurred had the acquisitions been completed on the stated date above, nor are they indicative of the future operating results of Viatris and its subsidiaries.
| Three Months Ended |  | Three Months Ended
(Unaudited, in millions, except per share amounts) | March 31, 2023 |  | March 31, 2022
Total revenues | $ | 3,729.1 |  |  | $ | 4,194.4 |
Net earnings | $ | 260.5 |  |  | $ | 337.0 |
Earnings per share: |  |  |
Basic | $ | 0.22 |  |  | $ | 0.28 |
Diluted | $ | 0.22 |  |  | $ | 0.28 |
Weighted average shares outstanding: |  |  |
Basic | 1,202.5 |  |  | 1,210.5 |
Diluted | 1,205.6 |  |  | 1,213.1 |

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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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