Business Acquisitions (Tables)

The following unaudited pro forma information gives effect to the Company's Fera, Aspen, and Elan acquisitions as if the acquisitions had occurred on July 1, 2012 and had been included in the Company's Consolidated Results of Operations for the nine months ended March 29, 2014 and March 30, 2013:



(in millions)	Nine Months Ended
(Unaudited)	March 29, 2014		March 30, 2013
Net sales	$	3,048.4	$	2,618.1
Net income (loss)	$	119.4	$	(390.7	)

Elan Corporation [Member]

The table below details these transaction costs and where they were recorded in the Condensed Consolidated Statements of Operations for the nine months ended March 29, 2014 (in millions).



	Nine Months Ended
Line item	March 29, 2014
Administration expense	$	108.9
Interest, net	10.0
Other expense, net	0.2
Loss on extinguishment of debt	165.8
Total acquisition-related costs	$	284.9

The total purchase price for the acquisition of Elan was approximately $9.5 billion, comprised of Perrigo share consideration valued at $6.1 billion, cash consideration for outstanding Elan shares of $3.2 billion and cash consideration for vested Elan option and share award holders of $111.5 million as follows (in millions except for per share data):



Elan shares outstanding as of December 18, 2013	515.7
Exchange ratio per share	0.07636
Total Perrigo shares issued to Elan shareholders	39.4
Perrigo per share value at transaction close on December 18, 2013	$	155.34
Total value of Perrigo shares issued to Elan shareholders	$	6,117.2
Cash consideration paid at $6.25 per Elan share	3,223.2
Cash consideration paid for vested Elan stock options and share awards	111.5
Total consideration	$	9,451.9

The preliminary allocation of the purchase price through March 29, 2014 was (in millions):



	Preliminary Allocation
Cash and cash equivalents	$	1,807.3
Investment securities (current and non-current)	100.0
Accounts receivable	44.2
Prepaids and other current assets	27.1
Property and equipment	9.2
Goodwill	2,088.5
Equity method investments	66.3
Definite-lived intangible assets	6,111.0
Other non-current assets	27.1
Total assets acquired	10,280.7

Accounts payable	2.0
Accrued expenses	93.5
Deferred tax liabilities	702.2
Other non-current liabilities	31.1
Total liabilities assumed	828.8
Net assets acquired	$	9,451.9

Fera Pharmaceuticals, LLC [Domain]

(in millions):



	Final Valuation
Inventory	$	1.3
Goodwill	2.8
Other intangible assets - Developed product technology	107.0
Total assets acquired	111.1

Accrued customer programs	0.5
Total liabilities assumed	0.5
Net assets acquired	$	110.6

Aspen Global Inc. [Domain]

The following table summarizes the preliminary fair values of the assets acquired related to the acquired Aspen products (in millions):



	Preliminary Allocation
Inventory	$	2.7
Goodwill	4.6
Other intangible assets	46.4
Total assets acquired	$	53.7

Other intangible assets acquired in the acquisition were valued as follows ($ in millions):



	Value		Useful Life (years)
Trade name and trademarks	$	34.8	25
Customer relationships	9.8		15
Non-compete agreements	1.8		5
Total intangible assets acquired	$	46.4

Velcera, Inc. [Domain]



	Final Valuation
Cash	$	18.9
Accounts receivable	6.3
Inventory	9.7
Property and equipment	0.6
Deferred income tax assets	7.9
Goodwill	62.5
Other intangible assets	135.3
Other assets	0.4
Total assets acquired	241.6

Accounts payable	6.5
Accrued expenses	4.8
Deferred income tax liabilities	48.2
Other long-term liabilities	7.0
Total liabilities assumed	66.5
Net assets acquired	$	175.1

Other intangible assets acquired in the acquisition were valued as follows ($ in millions):



	Value		Useful Life (years)
Distribution and license agreement	$	116.0	10
Customer relationships	8.7		20
Trade name and trademarks	7.6		25
Non-compete agreements	3.0		3
Total intangible assets acquired	$	135.3

Rosemont Pharmaceuticals Ltd. [Domain]

The following table summarizes the final fair values of the assets acquired and liabilities assumed related to the Rosemont acquisition (in millions):



	Final Valuation
Cash	$	2.1
Accounts receivable	10.6
Inventory	9.6
Property and equipment	13.1
Deferred income tax assets	0.2
Goodwill	147.0
Other intangible assets	148.2
Other assets	0.8
Total assets acquired	331.6

Accounts payable	2.6
Accrued expenses	7.6
Deferred tax liabilities	36.0
Other long-term liabilities	2.5
Total liabilities assumed	48.7
Net assets acquired	$	282.9

Other intangible assets acquired in the acquisition were valued as follows ($ in millions):



	Value		Useful Life (years)
Developed product technology	$	114.6	7
Trade name and trademarks	17.3		Indefinite
In-process research and development ("IPR&D")	11.2		Indefinite
Distribution and license agreements	3.6		14
Non-compete agreements	1.5		3
Total intangible assets acquired	$	148.2

Cobrek Pharmaceuticals [Member]



	Final Valuation
Other assets	$	0.3
Deferred income tax assets	3.6
Goodwill	15.3
Other intangible assets - Exclusive technology agreements	51.1
Total assets acquired	70.3

Deferred tax liabilities	18.8
Total liabilities assumed	18.8
Net assets acquired	$	51.5

Sergeant's PetCare Products,Inc. [Member]



	Final Valuation
Accounts receivable	$	19.7
Inventory	37.7
Property and equipment	25.4
Deferred income tax assets	1.5
Goodwill	80.2
Other intangible assets	135.4
Other assets	3.0
Total assets acquired	302.9

Accounts payable	13.7
Accrued expenses	4.2
Total liabilities assumed	17.9
Net assets acquired	$	285.0

Other intangible assets acquired in the acquisition were valued as follows (in millions):



	Value		Useful Life (years)
Developed product technology	$	66.1	10
Trade name and trademarks	33.0		Indefinite
Favorable supply agreement	25.0		7
Customer relationships	10.0		20
Non-compete agreements	1.3		1 to 3
Total intangible assets acquired	$	135.4