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Transactions (Tables)

12 Months Ended

Dec. 31, 2021

The following table summarizes the purchase price allocation detail (in millions):


	As initially reported
Consideration transferred:
Cash	$	96
Estimated fair value of contingent consideration		23
Net purchase price	$	119

Fair value of net assets acquired:
Current assets other than cash	$	7
Property, plant and equipment		36
Customer relationships and other intangibles (1)		11
Other assets and liabilities, net		(2	)
Total fair value of net assets acquired	$	52
Goodwill (2)	$	67

(1)

Intangible assets acquired are amortized over a 9-year weighted average period.

(2)

The amount of goodwill represents the excess of its purchase price over the fair value of net assets acquired. Goodwill includes the expected benefit that the Company believes will result from combining its operations with those of the businesses acquired. The amount of goodwill expected to be deductible for income tax purposes is approximately $54 million, subject to changes in the fair value of contingent consideration liability subsequent to the acquisition date.