6. Acquisitions

On October 1, 2012, the Company acquired all of the issued and outstanding capital stock of Avid Health, Inc. (“Avid Health”) for $652.8. The Company financed the acquisition with a combination of proceeds from an underwritten public offering of $400 aggregate principal amount of 2.875% Senior Notes due 2022, the issuance of commercial paper and cash. Products acquired in the acquisition include L’IL CRITTERS children’s gummy form dietary supplements and VITAFUSION adult gummy form dietary supplements. These dietary supplement brands are managed principally within the Consumer Domestic and Consumer International segments.

On November 8, 2011, the Company acquired a license for certain oral care technology for cash consideration of $4.3. The Company paid for the acquisition from available cash. The technology is managed principally within the Consumer Domestic segment.

On June 28, 2011, the Company acquired the BATISTE dry shampoo brand (“BATISTE”) from Vivalis Limited for cash consideration of $64.8. The Company paid for the acquisition from available cash. BATISTE annual sales were approximately $20.0 before the acquisition. The BATISTE brand is managed within the Consumer International segment.

The final fair values of the net assets acquired in 2012 for Avid Health, including the 2013 adjustments to fair value, and the fair values of the assets acquired in 2011 are below. The 2013 measurement period adjustments were not retrospectively adjusted as of December 31, 2012 as the amounts were not material.


	2012
Avid Health	Acquisition Date Preliminary Fair Value			Measurement Period Adjustments			Acquisition Date Final Fair Value
Inventory	$	38.5		$	0.3		$	38.8
Accounts receivables, net		29.6			(0.3	)		29.3
Other current assets		1.9			0.0			1.9
Property, plant and equipment		33.4			(1.8	)		31.6
Long-term assets		0.0			1.4			1.4
Tradenames and other intangibles		376.9			(14.7	)		362.2

Goodwill		345.4			8.4			353.8
Total Assets	$	825.7		$	(6.7	)	$	819.0
Other current liabilities		(19.3	)		(0.2	)		(19.5	)
Deferred income taxes		(154.1	)		7.4			(146.7	)

Purchase Price	$	652.3		$	0.5		$	652.8


	2011
	Batiste		Oral Care Technology License		Total
Inventory	$	1.0	$	0.0	$	1.0
Tradenames and other intangibles		53.1		4.3		57.4
Goodwill		10.7		0.0		10.7

Total Assets		64.8		4.3		69.1
Liabilities		0.0		0.0		0.0

Purchase Price	$	64.8	$	4.3	$	69.1

The weighted-average life of the amortizable intangible assets recognized from the Avid Health and BATISTE acquisitions was 15 years, and the weighted-average life of the technology intangible asset recognized from the 2011 oral care technology acquisitions was 7 years. Unaudited pro forma results for 2012 and 2011 reflecting the Avid Health acquisition are presented below. Pro forma results reflecting acquisitions in 2011 are not presented because they are not material.


	Twelve Months Ended				Twelve Months Ended
Unaudited consolidated pro forma results	December 31, 2012				December 31, 2011
	Reported		Pro forma		Reported		Pro forma
Net Sales	$	2,921.9	$	3,106.0	$	2,749.3	$	2,947.8
Net Income	$	349.8	$	374.9	$	309.6	$	318.2
Net Income per share—Basic	$	2.50	$	2.68	$	2.16	$	2.22
Net Income per share—Diluted	$	2.45	$	2.63	$	2.12	$	2.18

These pro forma results give effect to the Avid Health acquisition as if it occurred on January 1, 2011. 2012 pro forma net income was adjusted to exclude the pre-tax equivalent of $4.4 of acquisition-related costs and $7.6 of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. 2011 pro forma net income was adjusted to include these charges.