Acquisitions and Divestitures Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for Ranir and the provisional amounts of the assets acquired and liabilities assumed (in millions):



	Ranir
Purchase price paid	$	759.2

Assets acquired:
Cash and cash equivalents	$	11.5
Accounts receivable	40.6
Inventories	59.0
Prepaid expenses and other current assets	4.0
Property, plant and equipment, net	40.8
Operating lease assets	3.7
Goodwill	291.1
Definite-lived intangibles:
Developed product technology, formulations, and product rights	$	48.6
Customer relationships and distribution networks	260.0
Trademarks, trade names, and brands	41.0
Indefinite-lived intangibles:
In-process research and development	39.7
Total intangible assets	$	389.3
Other non-current assets	2.7
Total assets	$	842.7
Liabilities assumed:
Accounts payable	$	17.6
Other accrued liabilities	7.7
Payroll and related taxes	5.5
Accrued customer programs	5.7
Deferred income taxes	44.2
Other non-current liabilities	2.8
Total liabilities	$	83.5
Net assets acquired	$	759.2

Business Acquisition, Pro Forma Information

The following table presents unaudited pro forma information as if the Ranir acquisition had occurred on January 1, 2018 and had been combined with the results reported in our Consolidated Statements of Operations for all periods presented (in millions):



	Year Ended
(Unaudited)	December 31, 2019		December 31, 2018
Net sales	$	4,975.6	$	5,018.9
Net income	$	159.3	$	96.8