Acquisitions

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Acquisitions

Acquisitions—The Company accounts for acquisitions under the acquisition method, in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition. The operating results of the acquired companies are included in the Company’s consolidated financial statements from the date of acquisition. Acquisitions, individually and in the aggregate, did not materially affect the Company’s results of operations or financial position for any period presented. Net cash paid for acquisitions during 2015, 2014, and 2013 was $6 million, $45 million, and $369 million, respectively.

The premium over tangible net assets recorded for acquisitions based on purchase price allocations during 2015, 2014 and 2013 was as follows:

	2015			2014			2013
In millions except weighted-average lives (years)	Weighted- Average Life	Premium Recorded		Weighted- Average Life	Premium Recorded		Weighted- Average Life	Premium Recorded
Goodwill		$	2		$	18		$	247
Amortizable intangible assets:
Patents and proprietary technology	6.4	2		15.4	8		9.8	34
Trademarks and brands	—	—		12.9	3		15.5	35
Customer lists and relationships	—	—		11.4	12		11.2	100
Other	—	—		—	—		5.0	12
Total amortizable intangible assets	6.4	2		12.9	23		11.4	181
Indefinite-lived intangible assets:
Trademarks and brands		—			—			—
Total premium recorded		$	4		$	41		$	428

No goodwill recorded for acquisitions during 2015 will be tax deductible. Of the total goodwill recorded for acquisitions in 2014 and 2013, the Company expects goodwill of $14 million and $25 million, respectively, will be tax deductible.