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Acquisitions
6 Months Ended
Jun. 30, 2017
Acquisitions  
Acquisitions

Note 11—Acquisitions

 

On January 8, 2016, the Company acquired all of the share capital of FCI Asia Pte Ltd (“FCI”) for a purchase price of approximately $1,178.6, net of cash acquired.  The acquisition was funded by cash, cash equivalents and short-term investments that were held outside of the United States.  The purchase price was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed of FCI based upon their estimated fair values.  In the fourth quarter of 2016, the Company completed its analysis of the fair value of the net assets acquired through the use of independent valuations and management’s estimates, as noted in the Company’s 2016 Annual Report.   

 

The Company completed several other acquisitions in the second half of 2016 and first half of 2017 and is in the process of completing its analyses of the fair value of the assets acquired and liabilities assumed.  The Company anticipates that the final assessments of values will not differ materially from the preliminary assessments.  These other acquisitions were not material to the Company either individually or in the aggregate. 

 

Acquisition-related Expenses

 

In the second quarter of 2017, the Company incurred approximately $4.0 ($3.7 after-tax) of acquisition-related expenses related to external transaction costs.  In the first quarter of 2016, the Company incurred approximately $30.3 ($27.3 after-tax) of acquisition-related expenses related to the acquisition of FCI, primarily related to external transaction costs, amortization related to the value associated with acquired backlog and post-closing restructuring charges.  Such acquisition-related expenses are separately presented in the accompanying Condensed Consolidated Statements of Income.