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Danisco Acquisition (Details)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Danisco [Member]
USD ($)
Dec. 31, 2011
Danisco [Member]
DKK
May 19, 2011
Danisco [Member]
USD ($)
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    
Net debt assumed     617    
Transaction related costs 85        
Business combination revenue of acquiree since acquisition date, actual 1,713        
Business combination earnings or loss of acquiree since acquisition date, actual (7)        
Interest expense, debt, net of tax 30        
Interest expense, debt, before tax 39        
Business combination acquisition inventory step-up value portion expensed (after-tax) 125        
Business combination acquisition inventory step-up value portion expensed (pre-tax) 175        
Fair value of assets acquired          
Cash and cash equivalents     48    
Accounts and notes receivable     522 [1]    
Inventories     709 [2]    
Property, plant and equipment     1,709    
Goodwill     2,891 [3] 900 2,000
Other intangible assets     2,859 [4]    
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     342 [5]    
Long-term borrowings     323 [5]    
Other liabilities     219    
Deferred income taxes     1,026 [6]    
Total liabilities assumed     2,399    
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, 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.