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MERGER WITH THE PPG CHEMICALS BUSINESS (Tables) | 6 Months Ended
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Jun. 30, 2013
MERGER WITH THE PPG CHEMICALS BUSINESS |
Schedule of allocation of the purchase price to assets acquired and liabilities assumed |
(In millions) |  | Revised Preliminary Allocation as of June 30, 2013 (1) |
--- | --- | --- | ---
Cash and cash equivalents |  | $ | 26.7 |
Receivables |  |  | 233.7 |
Inventories |  |  | 72.3 |
Prepaid expenses and other |  |  | 11.9 |
Property, plant and equipment |  |  | 962.8 |
Goodwill |  |  | 1,450.2 |
Intangible assets |  |  | 1,218.0 |
Other assets |  |  | 42.5 |
Accounts payable |  |  | (97.8 | )
Income taxes payable |  |  | (4.7 | )
Accrued compensation |  |  | (20.6 | )
Other accrued taxes |  |  | (10.9 | )
Other accrued liabilities |  |  | (57.1 | )
Deferred income taxes |  |  | (616.0 | )
Noncurrent pension and other postretirement benefits |  |  | (279.8 | )
Other non-current liabilities |  |  | (61.6 | )
Debt assumed |  |  | (967.0 | )
Noncontrolling interest |  |  | (129.3 | )
Total net assets acquired |  | $ | 1,773.3 |
(1) Measurement period adjustments recorded during the three months ended June 30, 2013 did not have a significant impact on the unaudited condensed consolidated financial statements.
Schedule of pro forma information |
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
--- | --- | --- | --- | --- | ---
(In millions, except per share data) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Net sales |  | $ | 1,272.8 |  | $ | 1,282.1 |  | $ | 2,441.7 |  | $ | 2,553.4 |
Net income attributable to Axiall |  | $ | 74.8 | (a) | $ | 53.4 |  | $ | 64.0 | (b) | $ | 121.3 | (c)
Earnings per share from net income attributable to Axiall: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 1.07 |  | $ | 0.76 |  | $ | 0.92 |  | $ | 1.73 |
Diluted |  | $ | 1.06 |  | $ | 0.76 |  | $ | 0.91 |  | $ | 1.73 |
(a) In addition to the normal pro forma adjustments associated with the Transactions, this amount excludes $3.2 million related to the inventory fair value purchase accounting adjustment. This amount is excluded from the pro forma amounts for the three months ended June 30, 2013 and a comparable amount is included in the pro forma amounts for the six months ended June 30, 2012 to reflect our consolidated results as if the Transactions had taken place on January 1, 2012. (b) In addition to the normal pro forma adjustments associated with the Transactions, this amount excludes: (i) the $23.5 million gain on acquisition of controlling interest in PHH; (ii) $13.4 million related to the inventory fair value purchase accounting adjustment; and (iii) $11.0 million related to the expensing of financing fees related to a $688.0 million bridge loan used in the Transactions. These amounts are excluded from the pro forma amounts for the six months ended June 30, 2013 and comparable amounts are included in the six months ended June 30, 2012 to reflect our consolidated results as if the Transactions had taken place on January 1, 2012. (c) In addition to the normal pro forma adjustments associated with the Transactions, this amount includes: (i) the $23.5 million gain on acquisition of controlling interest in PHH; (ii) $13.4 million related to the inventory fair value purchase accounting adjustment; and (iii) $11.0 million related to the expensing of financing fees related to a $688.0 million bridge loan used in the Transactions. These amounts are excluded from the pro forma amounts for the six months ended June 30, 2013 and included in the six months ended June 30, 2012 to reflect our consolidated results as if the Transactions had taken place on January 1, 2012.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 54 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 55 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph 68 -Subparagraph r(2, 3) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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