ACQUISITIONS (Tables)

3 Months Ended

Mar. 31, 2025

The following table summarizes the provisional fair value assigned to assets and liabilities acquired as of January 31, 2025:


In millions
Cash and temporary investments	$	448
Accounts and notes receivable, net	1,386
Inventories	852
Other current assets	147
Plants, properties and equipment	6,429
Intangibles	4,327
Goodwill	4,048
Overfunded pension plan assets	79
Right of use assets	257
Deferred charges and other assets	56
Total assets acquired	18,029
Notes payable and current maturities of long-term debt	60
Accounts payable	1,654
Accrued payroll and benefits	240
Other current liabilities	608
Long-term debt	3,634
Deferred income taxes	1,520
Underfunded pension benefit obligation	78
Long-term lease obligations	177
Other liabilities	149
Total liabilities assumed	8,120
Net assets acquired	$	9,909

Identifiable intangible assets comprised of the following:


	March 31, 2025							December 31, 2024
In millions	Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets			Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets
Customer relationships and lists	$	4,458	$	392	$	4,066		$	489	$	360	$	129
Tradenames, patents and trademarks, and developed technology	564		171		393			170		162		8
Software	118		14		104		(a)	12		12		—
Land and water rights	8		2		6			8		2		6
Other	21		5		16			7		5		2
Total	$	5,169	$	584	$	4,585		$	686	$	541	$	145

The identifiable intangible assets acquired in connection with the acquisition of DS Smith included the following:


In millions	Estimated Fair Value		Average Useful Life
Customer relationships and lists	$	3,843	18 years
Tradenames, patents and trademarks, and developed technology	379		15 years
Software (a)	90		3 - 5 years
Other	15		Indefinite lived
Total	$	4,327

Below are the consolidated results on an unaudited pro forma basis assuming the acquisition of DS Smith had closed on January 1, 2024: