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ACQUISITIONS AND DISPOSITIONS (Tables)
12 Months Ended
Dec. 31, 2012
Business acquisitions  
Schedule of components of the aggregate purchase prices of acquisitions

 

 

MILLIONS

 

 

2012

 

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

Net tangible assets acquired (liabilities assumed)

 

 

$

(1.0

)

 

$

58.6

 

$

17.4

 

Identifiable intangible assets

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

8.4

 

 

145.5

 

11.3

 

Patents

 

 

2.8

 

 

0.3

 

 

Trademarks

 

 

0.5

 

 

11.2

 

0.7

 

Other technology

 

 

0.3

 

 

8.4

 

5.7

 

Total intangible assets

 

 

12.0

 

 

165.4

 

17.7

 

Goodwill

 

 

23.3

 

 

94.3

 

8.3

 

Total aggregate purchase price

 

 

34.3

 

 

318.3

 

43.4

 

Contingent consideration

 

 

(2.6

)

 

(5.0

)

 

Liability for indemnification

 

 

16.0

 

 

(28.1

)

 

Net cash paid for acquisitions

 

 

$

47.7

 

 

$

285.2

 

$

43.4

 

 

 

 

 

 

 

 

 

 

 

Nalco merger
 
Business acquisitions  
Schedule of cash and equity consideration transferred

 

 

MILLIONS, EXCEPT PER SHARE

 

Cash consideration

 

 

 

 

Number of Nalco common shares outstanding receiving cash consideration

 

41.9

 

 

Cash consideration per common share outstanding

 

$

38.80

 

 

Total cash paid to Nalco shareholders electing cash consideration

 

$

1,623.9

 

 

Stock consideration

 

 

 

 

Number of Nalco common shares outstanding receiving stock consideration

 

97.5

 

 

Exchange ratio

 

0.7005

 

 

Ecolab shares issued to Nalco shareholders electing stock consideration

 

68.3

 

 

Ecolab’s closing stock price on December 1, 2011

 

$

55.62

 

 

Total fair value of stock consideration

 

$

3,799.7

 

 

Fair value of Nalco equity compensation awards converted to Ecolab awards

 

$

73.5

 

 

Total fair value of cash and stock consideration

 

$

5,497.1

 

 

 

 

 

 

 

Schedule of assets acquired and liabilities assumed as of merger date

 

 

 

 

 

 

2012

 

 

 

 

 

 

 

INITIAL

 

ADJUSTMENTS

 

 

FINAL

 

 

MILLIONS

 

VALUATION

 

TO FAIR VALUE

 

 

VALUATION

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

$1,869.6

 

$(0.1

)

 

$1,869.5

 

 

Property, plant and equipment

 

1,069.2

 

(1.2

)

 

1,068.0

 

 

Other assets

 

97.3

 

(3.3

)

 

94.0

 

 

Identifiable intangible assets:

 

 

 

 

 

 

 

 

 

Customer relationships

 

2,160.0

 

 

 

2,160.0

 

 

Patents

 

321.0

 

 

 

321.0

 

 

Trade names

 

1,230.0

 

 

 

1,230.0

 

 

Trademarks

 

79.0

 

 

 

79.0

 

 

Other technology

 

91.0

 

 

 

91.0

 

 

Total assets acquired

 

6,917.1

 

(4.6

)

 

6,912.5

 

 

Current liabilities

 

1,105.5

 

(0.1

)

 

1,105.4

 

 

Long-term debt

 

2,858.4

 

 

 

2,858.4

 

 

Pension and postretirement benefits

 

505.7

 

5.6

 

 

511.3

 

 

Net deferred tax liability

 

1,188.7

 

5.3

 

 

1,194.0

 

 

Noncontrolling interests and other liabilities

 

167.7

 

35.5

 

 

203.2

 

 

Total liabilities and noncontrolling interests assumed

 

5,826.0

 

46.3

 

 

5,872.3

 

 

Goodwill

 

4,403.9

 

53.0

 

 

4,456.9

 

 

Total consideration transferred

 

$5,495.0

 

$2.1

 

 

$5,497.1

 

 

Schedule of net sales and operating income from Nalco's business included in entity's results

 

 

MILLIONS

 

 

 

 

 

Net sales

 

$

193.4

 

Operating income

 

13.8

 

Schedule of pro forma amounts

 

 

MILLIONS

 

2011

 

2010

 

(unaudited)

 

 

 

 

 

Net sales

 

$

11,283.9

 

$

10,326.0

 

Net income attributable to Ecolab

 

665.5

 

621.4

 

Earnings attributable to Ecolab per

 

 

 

 

 

common share

 

 

 

 

 

Basic

 

2.22

 

2.06

 

Diluted

 

2.17

 

2.02