Acquisitions (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Business Acquisitions, by Acquisition

Total consideration transferred for the acquisition of Reata is summarized as follows:


(In millions)	As of September 26, 2023
Cash consideration paid to Reata shareholders(1)	$	6,602.9
Fair value of Reata equity compensation pre-acquisition services and related taxes(2)	590.5
Total consideration	$	7,193.4

(1) Represents cash consideration transferred of $172.50 per outstanding Reata ordinary share based on 38.3 million Reata shares outstanding at closing.

(2) Represents the fair value of Reata stock options and stock units issued to Reata equity award holders and the related taxes attributable to pre-acquisition vesting services.

The following table summarizes the preliminary purchase price allocation of the separately identifiable assets acquired and liabilities assumed as of September 26, 2023:


(In millions)	As of September 26, 2023
Cash and cash equivalents	$	267.3
Accounts receivable	15.9
Inventory	1,692.0
Other current assets	53.6
Intangible assets:
Completed technology for SKYCLARYS (U.S.)	3,600.0
In-process research and development (omaveloxolone)	1,900.0
Priority review voucher	100.0
Other clinical programs	20.0
Operating lease assets	122.4
Accrued expense and other	(98.9)
Debt payable	(159.9)
Contingent payable to Blackstone(1)	(300.0)
Deferred tax liability	(922.5)
Operating lease liabilities	(151.8)
Other assets and liabilities, net	(2.0)
Total identifiable net assets	6,136.1
Goodwill	1,057.3
Total assets acquired and liabilities assumed	$	7,193.4

(1) For additional information on the contingent payable to Blackstone, please read Note 18, Other Consolidated Financial Statement Detail, to these condensed consolidated financial statements.