Acquisitions

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

On January 21, 2020, the Company acquired all of the shares of Matricel GmbH (“Matricel”) for cash consideration of approximately $43 million. Matricel is a leading provider of biomaterials used in dental applications in Germany.

The acquisition will be accounted for as a business combination and is expected to consist primarily of intangible assets. The Company is in the process of evaluating the potential impact of the business combination on its Consolidated and Combined Financial Statements.

In 2017, the Company acquired the remaining noncontrolling interest, and settled other related liabilities associated with one of its prior business combinations in its Specialty Products & Technologies segment, for consideration of $89 million. The Company recorded the increase in ownership interests as a transaction within Former Parent investment, net and recorded the settlement of the liabilities as a reduction of the other long-term liabilities balance. As a result of this transaction, noncontrolling interests were reduced by $63 million reflecting the carrying value of the interest with the $1 million difference charged to Former Parent investment, net and the other long-term liability balance decreased by approximately $25 million. In connection with settlement of the liabilities, the Company recorded a gain of approximately $10 million.