Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Adjusted Consideration Paid for the Acquisitions and Amounts of Assets Acquired and Liabilities Assumed

The following table summarizes the adjusted consideration paid for the eight acquisitions and the adjusted amounts of the assets acquired and liabilities assumed recognized at the acquisition date (in millions):

	As of December 31, 2015
Purchase price including contingent consideration				$	544
Less: cash acquired					(29	)
Net purchase price					515
Fair value of net assets acquired:
Current assets other than cash		181
Property, plant and equipment		59
Trade names (estimated useful lives of 1-20 years)		24
Customer relationships (estimated useful lives of 6-10 years)		79
Current liabilities		(72	)
Deferred tax liabilities		(31	)
Other non-current liability		(1	)
Total fair value of net assets acquired					239
Goodwill ⁽¹⁾					276

⁽¹⁾

The amount of goodwill represents the excess of its purchase price over the fair value of net assets acquired. Goodwill includes the expected benefits that the Company believes will result from combining its operations with those of businesses acquired. An immaterial amount of the goodwill recognized is expected to be deductible for income tax purposes.

Schedule of Unaudited Pro Forma Information

The following unaudited pro forma information has been presented as if the acquisitions occurred on January 1, 2014. This information is based on historical results of operations, adjusted to give effect to pro forma events that are directly attributable to the acquisitions and factually supportable. Additionally, certain pro forma adjustments have been made to the historical results in order to (i) present them in U.S. dollars; (ii) align accounting periods (iii) conform their statutory income tax rates to those applied by the Company; (iii) reflect the increase of cost of goods sold, depreciation and amortization from the fair value step-up as if the acquisitions had occurred on January 1, 2014.

The pro forma information is for informational purposes only and is not indicative of the results of operations that would have been achieved had the acquisitions occurred at the beginning of fiscal year 2014 (in millions).

	Year Ended December 31,
	2015			2014
Revenue	$	3,255		$	4,847
Net income (loss)	$	(482	)	$	131