Acquisitions (Tables)

9 Months Ended

Sep. 30, 2016

Following is the purchase price allocation detail (in millions):

	As of September 30, 2016
Net purchase price					176
Fair value of net assets acquired:
Current assets other than cash		28
Property, plant and equipment		12
Trade names (estimated useful lives of 20 years)		21
Customer relationships (estimated useful lives of 10 years)		25
Current liabilities		(20	)
Deferred tax liabilities, net		(19	)
Total fair value of net assets acquired					47
Goodwill ⁽¹⁾				$	129

⁽¹⁾

The amount of goodwill represents the excess of its purchase price over the fair value of net assets acquired. Goodwill includes the expected benefits that the Company believes will result from combining its operations with those of businesses acquired. An immaterial amount of the goodwill recognized is expected to be deductible for income tax purposes.