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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2018
Mimran |
Acquisitions |
Summary of total purchase price for this acquisition subject to working capital adjustment, based on acquisition date fair values and using the exchange rate in effect at the time of acquisition |
(Millions of dollars) |  |  | Fair Value |
Cash payment, net of $64 million of cash acquired |  | $ | 264 |
Euro-denominated note payable due 2021, 3.25% interest |  |  | 46 |
Contingent consideration |  |  | 14 |
Total fair value of consideration at acquisition date |  | $ | 324 |
Schedule of allocation of purchase price |
(Millions of dollars) |  |  | Fair Value |
Current assets |  | $ | 83 |
Property, plant and equipment |  |  | 91 |
Intangible assets |  |  | 78 |
Goodwill |  |  | 148 |
Other long-term assets |  |  | 4 |
Total fair value of assets acquired |  |  | 404 |
Current liabilities |  |  | (38) |
Other long-term liabilities |  |  | (38) |
Total fair value of liabilities assumed |  |  | (76) |
Less: Noncontrolling interest |  |  | (4) |
Net fair value of assets acquired |  | $ | 324 |
Schedule of proforma information related to acquisitions |
|  | Year ended |
(Unaudited) |  | December 31, |
(Millions of dollars except per share amounts) |  | 2018 |  | 2017 |
Net sales |  | $ | 6,643 |  | $ | 6,095 |
Net earnings (loss) |  | $ | (13) |  | $ | 272 |
Earnings (loss) per common share |  | $ | (10.90) |  | $ | 233.45 |
New Fashion Pork, LLP |
Acquisitions |
Schedule of allocation of purchase price |
(Millions of dollars) |  |  |  |
Inventories |  | $ | 6 |
Property, plant and equipment |  |  | 34 |
Total consideration transferred |  | $ | 40 |
Texas Farm LLC |
Acquisitions |
Schedule of allocation of purchase price |
(Millions of dollars) |  |  |  |
Inventories |  | $ | 16 |
Property, plant and equipment |  |  | 42 |
Goodwill |  |  | 3 |
Accounts payable |  |  | (2) |
Total consideration transferred |  | $ | 59 |
Christensen Farms |
Acquisitions |
Schedule of allocation of purchase price |
(Millions of dollars) |  |  |  |
Inventories |  | $ | 33 |
Property, plant and equipment |  |  | 111 |
Intangible assets |  |  | 1 |
Goodwill |  |  | 3 |
Total consideration transferred |  | $ | 148 |
Belarina |
Acquisitions |
Schedule of allocation of purchase price |
(Millions of dollars) |  |
Accounts receivable |  | $ | 7 |
Inventories |  |  | 6 |
Property, plant and equipment |  |  | 25 |
Other assets |  |  | 4 |
Goodwill |  |  | 1 |
Third-party debt |  |  | (14) |
Other liabilities |  |  | (11) |
Total business valuation |  | $ | 18 |
Fair value of pre-existing interest |  | $ | 18 |

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