Danisco Acquisition (Tables)

12 Months Ended

Dec. 31, 2012

Danisco Acquisition [Abstract]

Fair value of the assets acquired and liabilities assumed at acquisition date

Fair value of assets acquired
Cash and cash equivalents	$	48
Accounts and notes receivable 1	522
Inventories 2	709
Property, plant and equipment	1,709
Goodwill 3	2,891
Other intangible assets 4	2,859
Other current and non-current assets	78
Total assets acquired	$	8,816
Fair value of liabilities assumed
Accounts payable and other accrued liabilities	$	489
Short-term borrowings 5	342
Long-term borrowings 5	323
Other liabilities	219
Deferred income taxes 6	1,026
Total liabilities assumed	$	2,399

^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, which was expensed to cost of goods sold and other operating charges in 2011.

^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 11).

^5.  Debt assumed has been paid off as of December 31, 2011.

^6.   The deferred income tax liabilities assumed represent the adjustments for the tax impact of fair value adjustments, primarily relating to definite-lived intangible assets.