Acquisitions (Tables)

6 Months Ended

Jun. 27, 2020

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 as if the acquisition of the oral care assets of High Ridge Brands had occurred on January 1, 2019 and had been combined with the results reported in our Condensed Consolidated Statements of Operations for all periods presented (in millions):



	Three Months Ended				Six Months Ended
(Unaudited)	June 27, 2020		June 29, 2019		June 27, 2020		June 29, 2019
Net sales	$	1,219.1	$	1,239.6	$	2,589.7	$	2,515.5
Net income	$	63.8	$	4.3	$	173.1	$	72.7

Oral Care Assets of High Ridge Brands

Business Acquisition [Line Items]

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for the oral care assets of High Ridge Brands and the provisional amounts of the assets acquired and liabilities assumed (in millions):



	Oral Care Assets of High Ridge Brands
Cash consideration	$	106.0

Estimated fair value of assets acquired and liabilities assumed:
Net working capital	$	22.2
Property, plant and equipment, net	0.7
Definite-lived intangible assets	66.8
Goodwill	16.3
Net assets acquired	$	106.0

Ranir Global Holdings, LLC

Business Acquisition [Line Items]

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the consideration paid for Ranir and the 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	292.7
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	2.8
Total assets	$	844.4
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	45.9
Other non-current liabilities	2.8
Total liabilities	$	85.2
Net assets acquired	$	759.2