ACQUISITION (Tables) - DCP Business

12 Months Ended

Dec. 31, 2016

Schedule of Aggregate Purchase Consideration [Table Text Block]

The following table summarizes the aggregate purchase price for the Acquired Business and related transactions, after the final post-closing adjustments:



	October 5, 2015
	(In millions, except per share data)
Shares	87.5
Value of common stock on October 2, 2015	17.46
Equity consideration by exchange of shares	$	1,527.4
Cash and debt instruments received by TDCC	2,095.0
Payment for certain liabilities including the final working capital adjustment	69.5
Up-front payments under the ethylene agreements	433.5
Total cash, debt and equity consideration	$	4,125.4
Long-term debt assumed	569.0
Pension liabilities assumed	442.3
Aggregate purchase price	$	5,136.7

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the final allocation of the purchase price to the Acquired Business’s assets and liabilities on the Closing Date:



	Initial Valuation		Measurement Period Adjustments			Final Valuation
	($ in millions)
Total current assets	$	921.7	$	(38.0	)	$	883.7
Property, plant and equipment	3,090.8		(11.7		)	3,079.1
Deferred tax assets	76.8		8.2			85.0
Intangible assets	582.3		30.3			612.6
Other assets	426.5		12.4			438.9
Total assets acquired	5,098.1		1.2			5,099.3
Total current liabilities	357.6		2.3			359.9
Long-term debt	517.9		—			517.9
Accrued pension liability	447.1		(4.8		)	442.3
Deferred tax liabilities	1,054.9		(37.2		)	1,017.7
Other liabilities	2.0		6.6			8.6
Total liabilities assumed	2,379.5		(33.1		)	2,346.4
Net identifiable assets acquired	2,718.6		34.3			2,752.9
Goodwill	1,427.5		(55.0		)	1,372.5
Fair value of net assets acquired	$	4,146.1	$	(20.7	)	$	4,125.4

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

Based on final valuations, purchase price was allocated to intangible assets as follows:



	October 5, 2015
	Weighted-Average Amortization Period (Years)	Gross Amount
		($ in millions)
Customers, customer contracts and relationships	15 Years	$	520.5
Acquired technology	7 Years	85.1
Trade name	5 Years	7.0
Total acquired intangible assets		$	612.6

Pro forma summary

The following pro forma summary reflects consolidated results of operation as if the Acquisition had occurred on January 1, 2014 (unaudited).



	Years Ended December 31,
	2015			2014
	($ in millions, except per share data)
Sales	$	5,681.8		$	6,948.2
Net (loss) income	(36.6		)	0.8
Net (loss) income per common share:
Basic	$	(0.22	)	$	—
Diluted	$	(0.22	)	$	—