Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On February 2, 2018, the Company acquired Aclara for approximately $1.1 billion. Aclara is a provider of smart infrastructure solutions for electric, gas, and water utilities, with advanced metering solutions and grid monitoring sensor technology, as well as leading software enabled installation services. The acquisition extends the Power segment's capabilities into smart automation technologies, accelerates ongoing innovation efforts to address utility customer demand for data and integrated solutions, and expands the segment's reach to a broader set of utility customers.

The Company funded the acquisition of Aclara with cash raised from a public debt offering of $450 million of long-term unsecured, unsubordinated notes, placement of $500 million under the Term Loan Agreement, and the issuance of commercial paper for the remaining purchase price.

Refer to Note 2 — Business Acquisitions and Note 11 — Debt, in the Notes to Consolidated Financial Statements for additional information.