Acquisitions (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Purchase Price Allocation [Table Text Block]

The fair value of the purchase price for our 2012 acquisitions was preliminarily allocated in the table below to the assets acquired and liabilities assumed as part of the acquisitions.



Preliminary Purchase Price Allocation
(in Millions)
Current assets (primarily inventory and trade receivables) (1)	$	10.0
Property, plant & equipment	22.4
Finite-lived intangible assets (2)	32.5
Goodwill (3)	42.9
Total fair value of assets acquired	107.8
Current liabilities	3.2
Deferred tax liabilities	7.5
Other liabilities	6.9
Total fair value of liabilities assumed	17.6

Total Cash Paid	$	90.2

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(1)	Fair value of finished good inventories acquired included a step-up in the value of approximately $0.6 million, which will be expensed to cost of sales and services during 2012.


(2)	See Note 4 for the major classes of intangible assets acquired, which primarily represent customer relationships. The weighted average useful life of the acquired finite-lived intangibles is approximately 25 years.


(3)	Goodwill largely consisted of expected revenue synergies resulting from the business combinations. None of the acquired goodwill will be deductible for income tax purposes.