XML 37 R22.htm IDEA: XBRL DOCUMENT v3.3.0.814
Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2015
Business Combinations [Abstract]  
Schedule of Consideration Transferred and Recognized Identified Assets Acquired and Liabilities Assumed
The fair value of the consideration transferred on the date of acquisition consisted of the following:
(in millions)
 
Cash paid to Omnicare shareholders
$
9,636

Fair value of replacement equity awards issued to Omnicare employees
 
for precombination services
9

Total consideration
$
9,645


The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:
(in millions)
 
Current assets (including cash of $298)
$
1,682

Property and equipment
314

Goodwill
9,035

Intangible assets
3,962

Other noncurrent assets
64

Current liabilities
(704
)
Long-term debt
(3,110
)
Deferred income tax liabilities
(1,533
)
Other noncurrent liabilities
(65
)
Total consideration
$
9,645
Pro Forma Information
The following unaudited pro forma information presents a summary of the Company’s combined results of operations for the three and nine months ended September 30, 2015 and 2014 as if the Omnicare acquisition and the related financing transactions had occurred on January 1, 2014. The following pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions been effected on the assumed date, nor is it necessarily an indication of trends in future results for a number of reasons, including, but not limited to, differences between the assumptions used to prepare the pro forma information, basic shares outstanding and dilutive equivalents, cost savings from operating efficiencies, potential synergies, and the impact of incremental costs incurred in integrating the businesses.

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
(in millions, except per share data)
2015
 
2014
 
2015
 
2014
Total revenues
$
39,374

 
$
36,390

 
$
115,652

 
$
106,391

Income from continuing operations
1,318

 
929

 
3,774

 
3,261

Basic earnings per share from continuing operations
$
1.18

 
$
0.80

 
$
3.35

 
$
2.78

Diluted earnings per share from continuing operations
$
1.17

 
$
0.79

 
$
3.32

 
$
2.76