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Acquisitions and Equity Method Investments (Tables)

9 Months Ended

Sep. 30, 2021

Acquisitions and Equity Method Investments

Summarizes the preliminary purchase price allocations for the PureCircle acquisition

​

​	​	​	​	​
(in millions)		​	PureCircle	​
Working capital (excluding cash)	​	$	68	​
Property, plant and equipment	​		91	​
Other, net	​	​	(33)	​
Identifiable intangible assets	​		68	​
Goodwill	​		88	​
Total fair value, net of cash	​	​	282	​
Less: Non-redeemable non-controlling interests	​	​	74	​
Total purchase price, net of cash		$	208	​

Schedule of fair values, valuation techniques and estimated remaining useful life of acquired intangible assets

The following table presents the fair values, valuation techniques, and estimated remaining useful life at the acquisition date for these Level 3 measurements (dollars in millions):

​	​	​	​	​	​	​	​	​
​		​	​		​		Estimated	​
Intangible Asset	​	Fair Value		​	Valuation Technique	​	Useful Life	​
Proprietary technology	​	$	32	​	Relief-from-royalty method	​	12 years	​
Trade names	​	​	18	​	Relief-from-royalty method	​	15 years	​
Customer relationships	​	​	18	​	Multi-period excess earnings method	​	12 years	​

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- Definition

Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination.

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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=123413009&loc=d3e4845-128472

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