Acquisition (Notes)

9 Months Ended

Sep. 30, 2013

Business Combinations [Abstract]

Acquisition [Text Block]

On July 1, 2013, Bemis acquired Foshan New Changsheng Plastics Films Co., LTD ("NCS"), a specialty film manufacturer located in Foshan, China. NCS is a supplier to the Company's food packaging plant in Dongguan, China and other specialty film product customers. The acquisition of this film platform is expected to provide cost and logistics benefits to support the Company's broader Asia-Pacific growth strategy. The cash purchase price was $72.6 million, of which $62.3 million was paid in the third quarter of 2013 and $10.3 million will be paid during the next two years. The preliminary allocation of the purchase price resulted in approximately $44.4 million of goodwill for the Global Packaging segment, none of which is expected to be tax deductible.

The fair values and weighted average useful lives that have been assigned to the acquired identifiable intangible assets of this acquisition are:

(in millions, except useful lives)	Fair Value		Weighted Average Useful Life (years)
Customer relationships	$	8.3	9
Land-use rights	4.4		43
Other intangible assets	0.4		2

The fair value of assets and liabilities acquired was $108.0 million and $35.4 million, respectively. Pro forma financial information and allocation of the purchase price are not presented as the effects of this acquisition is not material to the Company's results of operations or financial position.