Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Acquisitions and Divestitures

ACQUISITIONS AND DIVESTITURES

Acquisition of DuPont Performance Coatings

On August 30, 2012, we entered into a purchase agreement with DuPont whereby, Axalta acquired from DuPont and its affiliates certain assets of DPC and all of the capital stock and other equity interests of certain entities engaged in the DPC business (the "Acquisition") pursuant to which we acquired the assets and legal entities of DPC from DuPont for a final purchase price of $4,907.3 million.

Axalta was formed for the purpose of consummating the Acquisition of DPC. Prior to the Acquisition, we generated no revenue and incurred no expenses other than merger and acquisition costs and debt financing costs in anticipation of the Acquisition.

The following unaudited supplemental pro forma information presents the financial results as if the acquisition of DPC had occurred at January 1, 2012. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been made at January 1, 2012, nor is it indicative of any future results.

	Year Ended December 31,
(in millions, except per share data)	2013			2012
Net sales	$	4,277.3		$	4,219.4
Net loss	$	(87.1	)	$	(270.1	)
Net loss attributable to controlling interests	$	(93.7	)	$	(274.6	)
Net loss per share (Basic and Diluted)	$	(0.41	)	$	—

The 2013 supplemental pro forma net loss was adjusted to exclude $53.1 million ($43.5 million, net of pro forma income tax impact) of acquisition-related costs incurred in 2013 and $123.1 million ($88.6 million, net of pro forma income tax impact) of expense consisting primarily of $103.7 million related to the fair market value adjustment to acquisition-date inventory.

Divestitures

In September 2014, we completed the sale of a business within the Performance Coatings reportable segment, which primarily included technology that had been developed as an integrated software solution for the collision repair supply chain market. The sale resulted in the receipt of $17.5 million during the year ended December 31, 2014. As a result, we recognized a pre-tax gain on sale of $1.2 million ($0.7 million after tax) recorded within other expense, net for the year ended December 31, 2014.