Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The following table sets forth the fair values and the useful lives of the other intangible assets acquired.


	Useful Lives			P4		Deerland		Sojaprotein		Others		Total
	(In years)			(In millions)



Intangible assets with finite lives:
Trademarks/brands	7	to	15	$	9	$	18	$	5	$	1	$	33
Customer lists	15	to	20	220		176		37		14		447
Recipes and others	7			16		58		—		3		77
Total other intangible assets acquired				$	245	$	252	$	42	$	18	$	557

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Fiscal year 2022 acquisitions

During the year ended December 31, 2022, the Company acquired Kansas Protein Foods LLC for cash consideration of $23 million. The cash consideration of this acquisition, net of $1 million in cash acquired, was allocated as follows:


	(In millions)
Property, plant, and equipment	$	9
Goodwill	13
Cash consideration	$	22

During the year ended December 31, 2021, the Company’s Nutrition segment acquired five businesses including, a 75% majority stake in U.S.-based PetDine, Pedigree Ovens, The Pound Bakery, and NutraDine (collectively, “P4”), premier providers of private label pet treats and supplements; Deerland Probiotics & Enzymes (“Deerland”), a leader in probiotic, prebiotic, and enzyme technology; and Sojaprotein, a leading European provider of non-GMO soy ingredients, for an aggregate consideration of $1.6 billion using cash on hand. The aggregate cash consideration of these acquisitions, net of $21 million in cash acquired, was allocated as follows. In 2022, the Company made immaterial adjustments to the purchase price allocations related to these acquisitions. These adjustments have been reflected in the table below.


(In millions)	P4		Deerland		Sojaprotein		Others		Total
Working capital	$	11	$	27	$	35	$	7	$	80
Property, plant, and equipment	73		43		85		6		207
Goodwill	317		396		192		35		940
Other intangible assets	245		252		42		18		557
Other long-term assets	—		—		12		2		14
Long-term liabilities	—		(74)		(10)		—		(84)
Temporary equity - redeemable noncontrolling interest	(150)		—		—		—		(150)
Aggregate cash consideration	$	496	$	644	$	356	$	68	$	1,564

During the year ended December 31, 2020, the Company acquired Yerbalatina and the remaining 70% interest in Anco Animal Nutrition Competence GmbH (“Anco”) for an aggregate cash consideration of $15 million. The aggregate cash consideration of these acquisitions plus the $3 million acquisition-date value of the Company’s previously held equity interest in Anco, were allocated as follows:


	(In millions)
Working capital	$	16
Property, plant, and equipment	1
Goodwill	2
Long-term liabilities	(1)
Aggregate cash consideration plus acquisition-date fair value of previously held equity interest	$	18