Biomet Merger (Tables)

6 Months Ended

Jun. 30, 2015

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the Closing Date (in millions):


	As of June 24, 2015
Cash	$	494.8
Accounts receivable, net		544.7
Inventory		1,161.7
Other current assets		202.3
Property, plant and equipment		699.4
Intangible assets not subject to amortization:
Trademarks and trade names		515.0
Intangible assets subject to amortization:
Technology		3,053.0
Customer relationships		5,829.0
Other assets		29.5
Goodwill		5,292.5

Total assets acquired		17,821.9

Current liabilities		588.9
Long-term debt		2,740.0
Deferred taxes		2,568.6
Other long-term liabilities		58.2

Total liabilities assumed		5,955.7

Net assets acquired	$	11,866.2

The following table summarizes the changes in the carrying amount of our goodwill (in millions):


	Americas			EMEA			Asia Pacific			Unallocated		Total
Balance at December 31, 2014
Goodwill	$	1,666.2		$	1,067.7		$	153.3		$	—	$	2,887.2
Accumulated impairment losses		(373.0	)		—			—			—		(373.0	)

		1,293.2			1,067.7			153.3			—		2,514.2
Biomet merger		—			—			—			5,292.5		5,292.5
Currency translation		(4.7	)		(66.3	)		(5.0	)		—		(76.0	)

Balance at June 30, 2015
Goodwill		1,661.5			1,001.4			148.3			5,292.5		8,103.7
Accumulated impairment losses		(373.0	)		—			—			—		(373.0	)

	$	1,288.5		$	1,001.4		$	148.3		$	5,292.5	$	7,730.7

The pro forma financial information has been adjusted to give effect to the merger as if it had occurred on January 1, 2014.