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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Acquisitions

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

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

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- References

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- Definition

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

+ References

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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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