XML 68 R48.htm IDEA: XBRL DOCUMENT v3.20.2
Acquisitions and Divestitures - Oral Care Assets of High Ridge Brands and Ranir Global Holdings,LLC Acquisitions (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Apr. 01, 2020
Jul. 01, 2019
Jun. 27, 2020
Jun. 27, 2020
Jun. 27, 2020
Dec. 31, 2019
Jun. 29, 2019
Business Acquisition [Line Items]              
Cash consideration - net of cash acquired         $ 106.0   $ 0.0
Estimated fair value of assets acquired and liabilities assumed:              
Goodwill     $ 4,004.2 $ 4,004.2 4,004.2 $ 4,116.7  
CSCA              
Estimated fair value of assets acquired and liabilities assumed:              
Goodwill     1,899.2 1,899.2 1,899.2 1,899.1  
CSCI              
Estimated fair value of assets acquired and liabilities assumed:              
Goodwill [1]     1,090.5 1,090.5 1,090.5 1,203.7  
Oral Care Assets of High Ridge Brands              
Business Acquisition [Line Items]              
Cash consideration $ 113.0     106.0      
Prepayment of contract consideration for transitional services     2.0 2.0 2.0    
Net sales since acquisition       19.8      
Net income since acquisition       (3.5)      
Estimated fair value of assets acquired and liabilities assumed:              
Net working capital     22.2 22.2 22.2    
Property, plant and equipment, net     0.7 0.7 0.7    
Goodwill     16.3 16.3 16.3    
Definite-lived intangible assets     66.8 66.8 66.8    
Net assets acquired     106.0 106.0 106.0    
Useful life of intangible assets 18 years            
Oral Care Assets of High Ridge Brands | CSCA              
Business Acquisition [Line Items]              
Inventory costs stepped up to acquisition date fair value     1.6        
General transaction costs     2.6   4.1    
Estimated fair value of assets acquired and liabilities assumed:              
Goodwill $ 14.6            
Oral Care Assets of High Ridge Brands | CSCI              
Estimated fair value of assets acquired and liabilities assumed:              
Goodwill $ 1.7            
Ranir Global Holdings, LLC              
Business Acquisition [Line Items]              
Cash consideration   $ 759.2          
Outstanding equity interest acquired (percent)   100.00%          
Total base consideration   $ 750.0          
Cash consideration - net of cash acquired   747.7          
Net sales since acquisition           151.4  
Net income since acquisition           7.6  
Inventory costs stepped up to acquisition date fair value           $ 5.7  
Estimated fair value of assets acquired and liabilities assumed:              
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          
Total intangible assets   389.3          
Other non-current assets   2.8          
Total assets   844.4          
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          
Ranir Global Holdings, LLC | CSCA              
Estimated fair value of assets acquired and liabilities assumed:              
Goodwill     212.6 212.6 212.6    
Goodwill expected to be tax deductible     252.3 252.3 252.3    
Ranir Global Holdings, LLC | CSCI              
Estimated fair value of assets acquired and liabilities assumed:              
Goodwill     80.1 80.1 80.1    
Ranir Global Holdings, LLC | In-process research and development              
Estimated fair value of assets acquired and liabilities assumed:              
Indefinite-lived intangibles   39.7          
Ranir Global Holdings, LLC | Developed product technology, formulations, and product rights              
Estimated fair value of assets acquired and liabilities assumed:              
Definite-lived intangible assets   $ 48.6          
Useful life of intangible assets   10 years          
Ranir Global Holdings, LLC | Customer relationships and distribution networks              
Estimated fair value of assets acquired and liabilities assumed:              
Definite-lived intangible assets   $ 260.0          
Useful life of intangible assets   24 years          
Ranir Global Holdings, LLC | Trademarks, trade names, and brands              
Estimated fair value of assets acquired and liabilities assumed:              
Definite-lived intangible assets   $ 41.0          
Minimum | Ranir Global Holdings, LLC | Trademarks, trade names, and brands              
Estimated fair value of assets acquired and liabilities assumed:              
Useful life of intangible assets   20 years          
Maximum | Ranir Global Holdings, LLC | Trademarks, trade names, and brands              
Estimated fair value of assets acquired and liabilities assumed:              
Useful life of intangible assets   25 years          
Adjustment              
Estimated fair value of assets acquired and liabilities assumed:              
Deferred income taxes     $ 1.7 $ 1.7 $ 1.7    
[1] We had accumulated goodwill impairments of $868.4 million as of each of December 31, 2019 and June 27, 2020.