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Acquisitions and business divestments (Tables)
12 Months Ended
Dec. 31, 2015
Acquisitions and business divestments  
Acquisitions

 

                                                                                                                                                                                    

($ in millions, except number of acquired businesses)

 

2015

 

2014

 

2013

 

Acquisitions (net of cash acquired)(1)

 

 

37 

 

 

58 

 

 

897 

 

Aggregate excess of purchase price over fair value of net assets acquired(2)

 

 

34 

 

 

9 

 

 

525 

 

Number of acquired businesses

 

 

3 

 

 

6 

 

 

7 

 


 

 

 

(1)          

Excluding changes in cost- and equity-accounted companies but including $2 million in 2013, representing the fair value of replacement vested stock options issued to Power-One employees at the acquisition date.

(2)          

Recorded as goodwill (see Note 11). Includes adjustments of $42 million in 2014 and $63 million in 2013 arising during the measurement period of acquisitions, primarily reflecting a reduction in certain deferred tax liabilities related to Power-One and to Thomas & Betts Inc. (acquired in 2012), respectively.

 

Allocation of the purchase consideration for business acquisition

 

        The final aggregate allocation of the purchase consideration for business acquisitions in 2013, was as follows:

                                                                                                                                                                                    

($ in millions)

 

Allocated
amounts(1)

 

Weighted-average
useful life

Intangible assets

 

 

208

 

7 years

Fixed assets

 

 

124

 

 

Deferred tax liabilities

 

 

(74

)

 

Other assets and liabilities, net

 

 

93

 

 

Goodwill(2)

 

 

546

 

 

​

​

​  

​  

​

​

Total consideration (net of cash acquired)

 

 

897

 

 

​

​

​  

​  

​

​

​

​

​  

​  

​

​


 

 

 

(1)          

Excludes measurement period adjustments related to prior year acquisitions.

(2)          

Goodwill recognized is not deductible for income tax purposes.