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Acquisition of Signode (Tables) | 12 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
Summary of Consideration Transferred to Acquire Signode and Preliminary Valuation of Assets Acquired and Liabilities Assumed | The following table summarizes the consideration transferred to acquire Signode and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date.
Fair value of consideration transferred
Cash consideration | $ | 3,912 |
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables, net | 374 |
Inventories | 303 |
Prepaid expenses and other current assets | 45 |
Intangible assets, net | 1,935 |
Property, plant and equipment, net | 450 |
Other non-current assets | 50 |
Short-term debt | (4 | )
Accounts payable | (222 | )
Accrued liabilities | (166 | )
Long-term debt | (3 | )
Postretirement and pension liabilities | (58 | )
Other non-current liabilities | (344 | )
Total identifiable net assets | 2,360 |
Goodwill | $ | 1,552 |
Schedule of Acquired Intangible Assets | Acquired intangible assets will be amortized over the estimated useful lives, primarily on a straight-line basis. Intangible assets acquired and the weighted average remaining useful lives were as follows:
| Preliminary Fair Value |  | Weighted Average Estimated Useful Life
Customer relationships | $ | 1,201 |  |  | 12
Trade names | 568 |  |  | 26
Technology | 166 |  |  | 7
| $ | 1,935 |  |  |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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