XML 51 R33.htm IDEA: XBRL DOCUMENT v2.3.0.15
Danisco Acquisition (Details)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended9 Months Ended3 Months Ended4 Months Ended9 Months Ended
Sep. 30, 2011
USD ($)
Sep. 30, 2011
USD ($)
Sep. 30, 2011
Danisco [Member]
USD ($)
Sep. 30, 2010
Danisco [Member]
USD ($)
Sep. 30, 2011
Danisco [Member]
USD ($)
Sep. 30, 2011
Danisco [Member]
USD ($)
Sep. 30, 2011
Danisco [Member]
DKK
Sep. 30, 2010
Danisco [Member]
USD ($)
May 19, 2011
Danisco [Member]
USD ($)
May 19, 2011
Industrial Biosciences [Member]
USD ($)
May 19, 2011
Nutrition and Health [Member]
USD ($)
Business Acquisition [Line Items]           
Public tender offer cash price per share       665    
Increased Offer Price Per Share       700    
Percentage of voting interests acquired        92.20%  
Danisco acquisition value  $ 6,417 $ 6,417$ 6,417     
Net debt assumed  617 617617     
Transaction related costs  3  85     
Business combination revenue of acquiree since acquisition date, actual    1,000      
Business combination earnings or loss of acquiree since acquisition date, actual    (50)      
Interest expense, debt, net of tax    20      
Interest expense, debt, before tax    26      
Business combination acquisition inventory step-up value portion expensed (after-tax)    125      
Business combination acquisition inventory step-up value portion expensed (pre-tax)132175  175      
Unaudited pro forma summary           
Net sales  9,2387,678 30,757 26,110   
Net income attributable to DuPont  544400 3,344 2,531   
Fair value of assets acquired           
Cash and cash equivalents        48  
Accounts and notes receivable        522[1]  
Inventories        709[2]  
Property, plant and equipment        1,720  
Goodwill        2,900[3]9002,000
Other intangible assets        2,859[4]  
Other current and non-current assets        79  
Total assets acquired        8,837  
Fair value of liabilities assumed           
Accounts payable and other accrued liabilities        482  
Short-term borrowings        342  
Long-term borrowings        323  
Other liabilities        219  
Deferred income taxes        1,054[5]  
Total liabilities assumed        2,420  
Gross amount of accounts and notes receivable acquired        531  
Expected uncollectible, accounts and notes receivable acquired        9  
Inventory step-up        175  
Indefinite lived intangible assets acquired        $ 1,002  
[1]The gross amount of accounts and notes receivable acquired was $531, of which $9 was expected to be uncollectible.
[2]The fair value of inventories acquired included a step-up in the value of $175, of which $132 and $175 was expensed to cost of goods sold and other operating charges for the three and nine month periods ended September 30, 2011, respectively.
[3]Goodwill will not be deductible for statutory tax purposes. Goodwill is attributable to Danisco's workforce and the synergies in technology, operations and market access that are expected from the acquisition. Approximately $900 and $2,000 of goodwill was allocated to the Industrial Biosciences and Nutrition & Health segments, respectively.
[4]Other intangible assets acquired of $1,002 are indefinite-lived (see Note 9).
[5]The deferred income tax liabilities assumed represent the adjustments for the tax impact of fair value adjustments, primarily relating to definite-lived intangible assets.