Acquisitions (Tables) - Accella Performance Materials

9 Months Ended

Sep. 30, 2018

Acquisitions

Unaudited Combined Pro Forma Information

The unaudited combined pro forma financial information presented below includes revenues and income from continuing operations, net of tax, of the Company as if the business combination had occurred on January 1, 2016, based on the purchase price allocation presented below:

	Unaudited Pro Forma as of September 30, 2017
(in millions)	Three Months Ended		Nine Months Ended
Revenues	$	1,117.6	$	3,070.6
Income from continuing operations	72.0		212.9

Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities

The following table summarizes the consideration transferred to acquire Accella and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending review of the final valuation for all acquired assets and liabilities.

	Preliminary Allocation		Measurement Period Adjustments		Preliminary Allocation
(in millions)	11/1/2017				9/30/2018
Total cash consideration transferred	$	670.7	$	0.7	$	671.4
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	$	16.5	$	—	$	16.5
Receivables, net	66.8		—		66.8
Inventories, net	48.5		(1.0)		47.5
Prepaid expenses and other current assets	0.9		—		0.9
Property, plant and equipment	59.6		3.2		62.8
Definite-lived intangible assets	240.0		(1.0)		239.0
Other long-term assets	15.6		—		15.6
Accounts payable	(45.5)		—		(45.5)
Income tax payable	2.0		—		2.0
Accrued expenses	(23.2)		9.5		(13.7)
Other long-term liabilities	(15.6)		—		(15.6)
Deferred income taxes	(83.5)		2.2		(81.3)
Total identifiable net assets	282.1		12.9		295.0
Goodwill	$	388.6	$	(12.2)	$	376.4