Acquisitions

On March 1, 2018, a subsidiary of the Company acquired all of the issued and outstanding capital of Brabant Alucast Italy Site Verres S.r.l., a limited liability company organized under the laws of Italy, and Brabant Alucast The Netherlands Site Oss B.V., a limited liability company organized under the laws of the Netherlands (collectively "Brabant"). The acquisitions were accounted for as business combinations under the acquisition method in accordance with the FASB ASC Topic 805, Business Combinations. The acquisitions complement Shiloh’s global footprint with the expansion of aluminum and magnesium casting capabilities, while providing capacity for growth.

The aggregate fair value of consideration transferred was $65,273 ($62,514 net of cash acquired), on the date of the acquisitions. Brabant acquisitions have been accounted for using the acquisition method in accordance with FASB ASC Topic 805, Business Combinations. Assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date. The fair values of identifiable intangible assets were based on valuations using the income approach and estimates. The final purchase price allocation was as follows:



	Preliminary Valuation		Period Adjustment		Revised Valuation
Cash and cash equivalents	2,792		(33	)	2,759
Accounts receivable	22,719		56		22,775
Inventory	10,603		273		10,876
Other assets, net	2,026		1,388		3,414
Property, plant and equipment	54,034		(834	)	53,200
Goodwill	408		(408	)	—
Intangible assets	2,328		—		2,328
Accounts payable and accrued expenses	(29,637	)	430		(29,207	)
Deferred income taxes	—		(872	)	(872	)
Net assets acquired	65,273		—		65,273

The $2,328 of acquired intangible assets was assigned to developed technology that have a useful life of 13 years. The fair value assigned to identifiable intangible assets acquired have been determined primarily by using the income approach, which discounts expected future cash flows to present value using estimates and assumptions determined by management. The Company utilized a third party to assist in assigning a fair value to acquired intangible assets. The total amount of identifiable intangible assets will not be deductible for tax purposes under current Italian or Netherlands tax law. A favorable lease asset of $1,458 was acquired as part of the Brabant acquisitions in fiscal 2018 with a seven year useful life. The amortization of this asset is included in amortization of intangible assets and the balance is included within other assets.

Supplemental pro forma disclosures are not included as the amounts are deemed immaterial.