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Acquisition of Signode (Tables)

12 Months Ended

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.

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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.

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