ACQUISITIONS

12 Months Ended

Dec. 31, 2015

Acquisitions [Abstract]

Acquisitions

Note 2. Acquisitions

During 2015, we acquired businesses for an aggregate cost (net of cash acquired) of $5,244 million.

On December 29, 2015, the Company completed the acquisition of the Elster Division of Melrose Industries plc(Elster), a leading provider of thermal gas solutions for commercial, industrial, and residential heating systems and gas, water, and electricity meters, including smart meters and software and data analytics solutions, for an aggregate value, net of cash acquired, of approximately $4,899 million. Elster had 2015 revenues of approximately $1,670 million and will primarily be integrated into ACS. The following amounts represent the preliminary determination of the fair value of the identifiable assets acquired and liabilities assumed that are included in the Company’s consolidated balance sheet as of December 31, 2015.

Current assets	$532
Intangible assets	2,463
Other noncurrent assets	179
Current liabilities	(658)
Noncurrent liabilities	(836)
Net assets acquired	1,680
Noncontrolling interest	(3)
Goodwill	3,222
Purchase Price	$4,899

The identifiable intangible assets primarily include customer relationships, trade names and technology that are being amortized over their estimated lives ranging from 1 to 20 years using straight line and accelerated amortization methods. The goodwill is non-deductible for tax purposes. The results from the date of acquisition through December 31, 2015 were included principally in ACS and were not material to the consolidated results of operations.

As of December 31, 2015, the purchase accounting forElster is subject to final adjustment primarily for the valuation of useful lives of intangible assets, amounts allocated to intangible assets and goodwill, tax balances and for certain pre-acquisition contingencies.

In January 2016, the Company acquired the remaining 30 percent noncontrolling interest in UOP Russell LLC, which develops technology and manufactures modular equipment to process natural gas, for approximately $240 million.

In February 2016, the Company acquired 100 percent of the issued and outstanding shares of COM DEV International (COM DEV), a leading satellite and space components provider, for an aggregate purchase price of approximately $330 million. COM DEV, a public company in Canada, operates globally and had reported 2015 revenues of approximately $180 million. COM DEV will be integrated into Aerospace.

In February 2016, the Company entered into a definitive agreement to acquire Xtralis International Holdings Limited (Xtralis),a leading global provider of aspiration smoke detection and perimeter security technologies, for approximately $480 million. The transaction is expected to close in the second quarter of 2016, pending regulatory approvals. Xtralis will be integrated into ACS.