Business Combinations (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Schedule of Purchase Price Allocation

The acquisition accounting for the NACP Combination, PFP and the Letica Foodservice acquisitions as of December 31, 2018 was as follows:

In millions	Amounts Recognized as of Acquisition Date		Measurement Period Adjustments		Amounts Recognized as of Acquisition Dates (as adjusted)
Purchase Price(a)	$	1,241.7	$	(40.9)	$	1,200.8
Assumed Debt(b)	660.0		—		660.0
Total Purchase Consideration	$	1,901.7	$	(40.9)	$	1,860.8
Receivables, Net	145.3		—		145.3
Inventories, Net	314.2		0.8		315.0
Other Current Assets	20.9		(9.2)		11.7
Property, Plant and Equipment, Net	1,242.6		32.0		1,274.6
Intangible Assets, Net(c)	136.6		13.5		150.1
Other Assets	6.0		(6.0)		—
Total Assets Acquired	1,865.6		31.1		1,896.7
Accounts Payable	112.6		—		112.6
Compensation and Employee Benefits	21.0		(5.7)		15.3
Current Liabilities	16.3		(0.1)		16.2
Other Noncurrent Liabilities	41.3		(1.7)		39.6
Total Liabilities Assumed	191.2		(7.5)		183.7
Net Assets Acquired	1,674.4		38.6		1,713.0
Goodwill	227.3		(79.5)		147.8
Total Estimated Fair Value of Net Assets Acquired	$	1,901.7	$	(40.9)	$	1,860.8

^(a) Includes a $123.5 million adjustment for discounting the purchase price for lack of marketability of the membership interests issued for the NACP Combination and measurement period adjustments of $40.5 million, related to working capital true-ups, offset by pension settlements.

^(b) Assumed Debt was valued at fair market value based on quoted market prices (Level 2 inputs) obtained from independent pricing services.

(c) Intangible Assets, Net consists of customer relationships which are generally amortized using either a straight-lined method, when the amortization pattern is not reliably determinable, or an accelerated method, generally over approximately 20 years. The value of customer relationships was determined using a discounted cash flow model, which includes an approximate 5% attrition rate. Beyond the twenty-year life, the present value of cash flows were not meaningful.

Business Acquisition, Pro Forma Information

The following unaudited pro forma consolidated results of operations data assumes that the NACP Combination occurred as of the beginning of the period presented. This pro forma data is based on historical information and does not necessarily reflect the actual results that would have occurred, nor is it indicative of future results of operations.

In millions, except per share data	Year Ended December 31, 2017
Net Sales	$	5,912.5
Net Income Attributable to Graphic Packaging Holding Company	367.7
Income Per Share — Basic	1.18
Income Per Share — Diluted	1.18