Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisition

The following table sets forth the Company’s fair value estimates of the assets acquired and liabilities assumed in the acquisition of ICOR, which were finalized during the fourth quarter of 2018.

	Fair Value At Acquisition Date		Measurement Period Adjustments			Adjusted Fair Value		Weighted-average Useful Life (in Years)
Assets acquired:
Accounts receivable - trade	$	4	$	—		$	4
Inventories		8		—			8
Property, plant, and equipment		1		—			1
Identifiable intangible asset:
Customer relationships (1)		20		2			22		5
Total assets acquired		33		2			35
Liabilities assumed:
Accounts payable		1		—			1
Other accrued liabilities		1		—			1
Total liabilities assumed		2		—			2
Total identifiable net assets acquired		31		2			33
Goodwill (1)		6		(2	)		4
Net assets acquired	$	37	$	—		$	37

(1)

During the third quarter of 2018, the Company recorded a measurement period adjustment to its customer relationships based on an ongoing analysis associated with the preparation of a third-party appraisal.