BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2013



	Purchase Price		Total Net Assets Acquired		Purchased Intangible Assets		Goodwill
2012
Pure Ice ⁽¹⁾	$	66.2	$	—	$	43.1	$	23.1

2011
SinfulColors ⁽²⁾	$	39.0	$	4.1	$	22.8	$	12.1

⁽¹⁾

On July 2, 2012, the Company acquired certain assets of Bari Cosmetics, Ltd., including trademarks and other intellectual property related to Pure Ice nail enamel and Bon Bons cosmetics brands (the “Pure Ice Acquisition”). The Company paid $66.2 million of total consideration for the Pure Ice Acquisition in cash, comprised of $45.0 million cash on hand and $21.2 million drawn under Products Corporation’s 2011 Revolving Credit Facility. Both the intangible assets acquired and goodwill are expected to be deductible for income tax purposes.

⁽²⁾ On March 17, 2011, the Company acquired certain assets, including trademarks and other intellectual property, inventory, certain receivables and manufacturing equipment, related to SinfulColors cosmetics, Wild and Crazy cosmetics, freshMinerals cosmetics (which brand was disposed of in August 2012) and freshcover cosmetics, which products are sold principally in the U.S. mass retail channel (the “SinfulColors Acquisition”). The Company also assumed certain liabilities of the acquired business. The Company paid $39.0 million of total consideration for the SinfulColors Acquisition in cash. Both the intangible assets acquired and goodwill are expected to be deductible for income tax purposes.

The Colomer Group Participations, S.L.

Business Acquisition [Line Items]

Components of Purchase Price

The components of the $664.5 million purchase price are as follows:



	As of October 9, 2013
Share purchase price⁽¹⁾	$	545.6
Leakages⁽²⁾	(3.8		)
Shareholder loans⁽³⁾	122.7
Total purchase price	$	664.5

⁽¹⁾ All of Colomer’s 10,227 shares outstanding on the Acquisition Date were purchased for a total of $538.4 million. In addition, interest on the share price from the locked box date of June 30, 2013 through the Acquisition Date totaled $7.2 million, for a total share purchase price of $545.6 million.


⁽²⁾	According to the Purchase Agreement, certain leakages, such as certain fees and other items incurred by Colomer between June 30, 2013 and the Acquisition Date, were reductions to the purchase price.


⁽³⁾	The purchase price included the payment of Colomer’s shareholder loans for $122.7 million, which included the principal and accrued interest owed as of the Acquisition Date. As such, this liability was settled on the Acquisition Date.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The Company accounted for the Colomer Acquisition as a business combination during the fourth quarter of 2013 and, accordingly, the total consideration of $664.5 million has been recorded based on the respective estimated fair values of the net assets acquired on the Acquisition Date with resulting goodwill, as follows:



	Fair Values at October 9, 2013
Cash and cash equivalents	$	36.9
Trade receivables	83.9
Inventories	75.1
Prepaid expenses and other	31.3
Property, plant and equipment	96.7
Intangible assets	292.7
Goodwill	255.7
Deferred tax asset - non-current	53.1
Other assets	1.9
Total assets acquired	927.3
Accounts payable	48.0
Accrued expenses and other	65.6
Long-term debt	0.9
Long-term pension and other benefit plan liabilities	4.5
Deferred tax liability	123.3
Other long-term liabilities	20.5
Total liabilities assumed	262.8
Total consideration	$	664.5

Schedule of Intangible Assets Acquired

The acquired intangible assets based on the estimate of the fair values of the identifiable intangible assets are as follows:



	Fair Values at October 9, 2013		Weighted Average Remaining Useful Life (in years)
Trade names, indefinite-lived	$	108.6	Indefinite
Trade names, finite-lived	109.4		5 - 20
Customer relationships	57.0		10 - 15
License agreement	4.1		10
Internally-developed IP	13.6		10
Total acquired intangible assets	$	292.7

Pro Forma Information

The unaudited pro forma results include the historical consolidated statements of operations of the Company and Colomer, giving effect to the Colomer Acquisition and related financing transactions as if they had occurred at the beginning of the earliest period presented. As stated below, the Company also acquired Pure Ice in 2012, however the Company has not included the Pure Ice results prior to its acquisition date in these pro forma results as the impact would not have been material.



	Unaudited Pro Forma Results
	Year Ended December 31,
	2013		2012
Net sales	$	1,908.9	$	1,911.6
Income from continuing operations, before income taxes	125.2		106.0