Business Acquisitions (Tables)

9 Months Ended

Sep. 07, 2013

Preliminary Allocation of Purchase Price

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed in connection with the PLG acquisition:



(In millions)	Initial valuation at December 29, 2012		Measurement period adjustments			Adjusted preliminary valuation at September 7, 2013
Cash	$	23.6	$	—		$	23.6
Accounts receivable	146.9		4.3			151.2
Inventories	203.5		—			203.5
Deferred income taxes	13.6		—			13.6
Other current assets	13.2		—			13.2
Property, plant and equipment	77.1		—			77.1
Goodwill	419.6		(11.1		)	408.5
Intangible assets	820.6		—			820.6
Other	11.2		1.8			13.0
Total assets acquired	1,729.3		(5.0		)	1,724.3
Accounts payable	97.4		—			97.4
Other accrued liabilities	40.0		1.5			41.5
Deferred income taxes	294.7		(6.5		)	288.2
Accrued pension liabilities	37.7		—			37.7
Other liabilities	10.0		—			10.0
Total liabilities assumed	479.8		(5.0		)	474.8
Net assets acquired	$	1,249.5	$	—		$	1,249.5

Addition to Goodwill within Reportable Segments

The excess of the purchase price over the fair value of net assets acquired of $408.5 million was preliminarily recorded as goodwill in the consolidated condensed balance sheets and has been assigned to the Performance Group and Lifestyle Group reportable operating segments as follows:



(In millions)	Goodwill from the acquisition of PLG

Performance Group	$	82.4
Lifestyle Group	326.1
Total	$	408.5

Intangible Assets Acquired in Acquisition

Intangible assets acquired in the acquisition were preliminarily valued as follows:



(In millions)	Intangible asset		Useful life
Trade names and trademarks	$	670.8	Indefinite
Customer lists	100.5		3-20 years
Licensing agreements	28.8		4-5 years
Developed product technology	14.8		3-5 years
Backlog	5.1		6 months
Net favorable leases	0.6		10 years
Total intangible assets acquired	$	820.6