Acquisitions (Notes)

9 Months Ended

Sep. 30, 2016

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

On June 30, 2016, Grace acquired the assets of BASF's polyolefin catalysts business for total consideration of $248.7 million, including an estimated $3.3 million holdback liability. The business is included in the Specialty Catalysts operating segment of the Catalysts Technologies reportable segment. The acquisition purchase price has been allocated to the tangible and identifiable intangible assets acquired based on their estimated fair values at the acquisition date in accordance with ASC 805 "Business Combinations." The excess of the purchase price over the fair value of the tangible and intangible assets acquired was recorded as goodwill. The goodwill recognized is attributable to the expected growth and operating synergies that Grace expects to realize from this acquisition. Approximately $43 million of goodwill generated from the acquisition will be deductible for U.S. income tax purposes over a period of 15 years. Due to the timing of the acquisition closing, Grace did not have adequate time to finalize the purchase price allocation during the 2016 second quarter. During the 2016 third quarter, Grace recorded adjustments resulting from the finalization of the purchase price allocation. These adjustments resulted in increases to inventories and intangible assets of $3.8 million and $6.4 million, respectively, and decreases to properties and equipment and goodwill of $1.2 million and $9.0 million, respectively.

	(In millions)
Inventories	$	30.2
Properties and equipment	98.5
Goodwill	60.9
Intangible assets	59.1
Net assets acquired	$	248.7

The table below presents the intangible assets acquired as part of the acquisition of the assets of BASF's polyolefin catalysts business and the periods over which they will be amortized.

	Amount (In millions)		Weighted Average Amortization Period (in years)
Customer Lists	$	37.4	20.0
Trademarks	13.4		20.0
Technology	8.3		20.0
Total	$	59.1	20.0

The carrying amount of goodwill attributable to each reportable segment and the changes in those balances during the nine months ended September 30, 2016, are as follows:

(In millions)	Catalysts Technologies		Materials Technologies			Total Grace
Balance, December 31, 2015	$	292.8	$	43.7		$	336.5
Goodwill acquired during the year	60.9		—			60.9
Foreign currency translation	0.1		0.2			0.3
Write-off related to exited product lines	—		(2.5		)	(2.5		)
Balance, September 30, 2016	$	353.8	$	41.4		$	395.2