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BUSINESS COMBINATIONS - Narrative (Details)
3 Months Ended 9 Months Ended 0 Months Ended 0 Months Ended 2 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 0 Months Ended 0 Months Ended 0 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 0 Months Ended 1 Months Ended 9 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 9 Months Ended 0 Months Ended
Sep. 30, 2013
USD ($)
Sep. 30, 2012
USD ($)
Sep. 30, 2013
USD ($)
Sep. 30, 2012
USD ($)
Dec. 31, 2012
USD ($)
Apr. 30, 2013
Actavis Specialty Brands
Metronidazole 1.3 Percent Vaginal Gel Antibiotic Development Product [Member]
USD ($)
Sep. 30, 2013
1.375% Convertible Senior Notes due in 2017
Dec. 31, 2012
1.375% Convertible Senior Notes due in 2017
Sep. 30, 2013
2.5% Contingent Convertible Senior Notes due in 2032
Dec. 31, 2012
2.5% Contingent Convertible Senior Notes due in 2032
Sep. 30, 2013
1.5% Contingent Convertible Senior Notes due in 2033
Dec. 31, 2012
1.5% Contingent Convertible Senior Notes due in 2033
Sep. 30, 2013
Developed Markets
USD ($)
Dec. 31, 2012
Developed Markets
USD ($)
Sep. 30, 2013
Emerging Markets
USD ($)
Dec. 31, 2012
Emerging Markets
USD ($)
Aug. 05, 2013
B&L
USD ($)
Sep. 30, 2013
B&L
USD ($)
Sep. 30, 2013
B&L
USD ($)
Sep. 30, 2013
B&L
9.875% Senior Notes
USD ($)
Aug. 05, 2013
B&L
9.875% Senior Notes
Aug. 05, 2013
B&L
Various Vision Care Products
USD ($)
Aug. 05, 2013
B&L
Various Pharmaceutical Products
USD ($)
Aug. 05, 2013
B&L
Various Surgical Products
USD ($)
Aug. 05, 2013
B&L
IPR&D [Member]
Aug. 05, 2013
B&L
Development Costs
USD ($)
Sep. 30, 2013
B&L
Developed Markets
USD ($)
Aug. 05, 2013
B&L
Developed Markets
USD ($)
Sep. 30, 2013
B&L
Emerging Markets
USD ($)
Aug. 05, 2013
B&L
Emerging Markets
USD ($)
Sep. 30, 2013
Obagi, Eisai, Natur Produkt and other smaller acquisitions
USD ($)
Apr. 25, 2013
Obagi Medical Products, Inc
USD ($)
Sep. 30, 2013
Obagi Medical Products, Inc
Developed Markets
USD ($)
Sep. 30, 2013
Obagi Medical Products, Inc
Emerging Markets
USD ($)
Feb. 20, 2013
Eisai
USD ($)
Sep. 30, 2013
Eisai
Developed Markets
USD ($)
Feb. 01, 2013
Natur Produkt
USD ($)
Mar. 31, 2013
Natur Produkt
USD ($)
Sep. 30, 2013
Natur Produkt
Emerging Markets
USD ($)
Dec. 11, 2012
Medicis
USD ($)
Sep. 30, 2013
Medicis
USD ($)
Jun. 30, 2013
Medicis
USD ($)
Mar. 31, 2013
Medicis
USD ($)
Dec. 31, 2012
Medicis
USD ($)
Sep. 30, 2013
Medicis
USD ($)
Dec. 31, 2012
Medicis
USD ($)
Sep. 30, 2013
Medicis
Metronidazole 1.3 Percent Vaginal Gel Antibiotic Development Product [Member]
USD ($)
Sep. 30, 2013
Medicis
1.375% Convertible Senior Notes due in 2017
Dec. 11, 2012
Medicis
1.375% Convertible Senior Notes due in 2017
Sep. 30, 2013
Medicis
2.5% Contingent Convertible Senior Notes due in 2032
Dec. 11, 2012
Medicis
2.5% Contingent Convertible Senior Notes due in 2032
Sep. 30, 2013
Medicis
1.5% Contingent Convertible Senior Notes due in 2033
Dec. 11, 2012
Medicis
1.5% Contingent Convertible Senior Notes due in 2033
Dec. 11, 2012
Medicis
Development of dermatology products for treatment of bacterial vaginosis
USD ($)
Dec. 11, 2012
Medicis
Development of several aesthetics programs
USD ($)
Dec. 11, 2012
Medicis
Minimum
Dec. 11, 2012
Medicis
Maximum
Jun. 18, 2012
OraPharma
USD ($)
Jul. 31, 2013
OraPharma
USD ($)
Jun. 30, 2013
OraPharma
USD ($)
Sep. 30, 2013
OraPharma
USD ($)
Sep. 30, 2013
OraPharma
Developed Markets
USD ($)
Dec. 31, 2012
Other Business Combinations
USD ($)
Sep. 30, 2013
Other Business Combinations
USD ($)
Oct. 02, 2012
Johnson and Johnson Consumer Companies Inc.
USD ($)
Sep. 28, 2012
Johnson and Johnson North America
USD ($)
Sep. 24, 2012
QLT Inc and QLT Ophthalmics Inc.
USD ($)
Sep. 24, 2012
QLT Inc and QLT Ophthalmics Inc.
U.S
USD ($)
Sep. 24, 2012
QLT Inc and QLT Ophthalmics Inc.
U.S. and Puerto Rico
USD ($)
May 23, 2012
University Medical Pharmaceuticals
USD ($)
Sep. 30, 2013
Atlantis Pharma
USD ($)
May 02, 2012
Atlantis Pharma
USD ($)
May 02, 2012
Atlantis Pharma
MXN
Mar. 13, 2012
Gerot Lannach
USD ($)
Mar. 13, 2012
Gerot Lannach
EUR (€)
Sep. 30, 2013
Gerot Lannach
USD ($)
Sep. 30, 2013
Gerot Lannach
EUR (€)
Jun. 30, 2013
Gerot Lannach
USD ($)
Jun. 30, 2013
Gerot Lannach
EUR (€)
Feb. 01, 2012
Probiotica Laboratorios Ltda.
USD ($)
Feb. 01, 2012
Probiotica Laboratorios Ltda.
BRL
Sep. 30, 2013
Probiotica Laboratorios Ltda.
USD ($)
Sep. 30, 2013
Probiotica Laboratorios Ltda.
BRL
Sep. 30, 2013
Probiotica Laboratorios Ltda.
Minimum
Sep. 30, 2013
Probiotica Laboratorios Ltda.
Maximum
Dec. 11, 2012
Class A Common Stock
Medicis
USD ($)
Aug. 05, 2013
Restructuring, Integration and Other Costs
B&L
USD ($)
Aug. 05, 2013
Acquisition-related Costs
B&L
USD ($)
Business Combinations                                                                                                                                                                                
Par value per share of common stock (in dollars per share) $ 0   $ 0   $ 0                       $ 0.01                                                                                                                                         $ 0.014    
Enterprise value                                 $ 8,700,000,000                                                                                                                                              
Cash consideration paid for unvested options                                                                                                                                                                             4,320,000 [1]  
Fair value of trade accounts receivable acquired                                 547,900,000                           64,000,000                 90,200,000                                               29,800,000                                                
Gross contractual amount of trade accounts receivable acquired                                 556,400,000                           66,200,000                 90,300,000                                               31,100,000                                                
Expected uncollectible of trade accounts receivable acquired                                 8,500,000                           2,200,000                 100,000                                               1,300,000                                                
Entry to record inventory at its estimated fair value                                 285,500,000                                             104,600,000                                                                                                
Acquired IPR&D                                 398,130,000 [2]         193,400,000 170,500,000 34,200,000   100,000,000         18,714,000 [3]                               66,600,000             136,900,000 22,900,000                                                                  
Risk-adjusted discount rate (as a percent)                                                 10.00%                                                             10.00% 11.00%                                                              
Interest rate on debt (as a percent)             1.375% 1.375% 2.50% 2.50% 1.50% 1.50%               9.875% 9.875%                                                     1.375% 1.375% 2.50% 2.50% 1.50% 1.50%                                                                      
Loss on extinguishment of debt (8,161,000) (2,322,000) (29,540,000) (2,455,000)                               8,200,000                                                                                                                                        
Deferrerd tax assets                                 49,500,000                                                                                                                                              
Deferred tax liability, noncurrent                                 1,460,400,000                           147,801,000                                                                                                                  
Fair value of pension and other benefits liabilities                                 223,000,000                                                                                                                                              
Goodwill 9,742,003,000   9,742,003,000   5,141,366,000 [4]               7,455,586,000 3,992,988,000 [4] 2,286,417,000 1,148,378,000 [4] 4,387,981,000 [5]                   3,271,600,000 3,271,600,000 1,116,400,000 1,116,400,000 222,926,000 [6]   158,500,000 21,600,000   112,000,000     34,700,000                                             120,100,000                                                    
Acquisition-related costs 8,650,000 4,605,000 24,428,000 25,977,000                             8,300,000                       10,000,000                           32,200,000                                                                                     8,300,000
Revenues of acquiree since acquisition date                                   500,900,000                         168,900,000                                                                                                                  
Net earnings (loss), net of tax of acquiree since acquisition date                                   (165,800,000)                         13,800,000                                                                                                                  
Aggregate purchase price                                 4,613,326,000                           848,400,000 437,100,000         137,000,000     2,578,879,000                                   388,500,000         807,487,000   41,700,000 107,300,000                           90,500,000 158,000,000              
Acquisition-related contingent consideration 125,524,000   125,524,000   102,559,000                                                   59,100,000       50,800,000                                             99,200,000         44,200,000       7,900,000     1,500,000   7,600,000   16,800,000                            
Per share consideration (in dollars per share)                                                               $ 24.00               $ 44.00                                                                                                
Upfront payment                                                                     66,500,000                                             289,300,000                   62,500,000 50,000,000 65,000,000   65,500,000 847,300,000 164,000,000 125,000,000                          
Potential future milestone payments                                                                     60,000,000                                             114,000,000                 20,000,000     40,000,000   8,900,000 114,700,000 19,700,000 15,000,000                          
Contingent refund of purchase price                                                                         20,000,000                                                                                                      
Refund of contingent purchase price                                                                           20,000,000                                                                                                    
Restructuring, integration and other costs 295,890,000 42,872,000 398,540,000 135,213,000                             (217,310,000)                                           (2,065,000) (5,285,000) (15,772,000) 77,300,000   (162,952,000)                                                                                    
Proceeds from liquidation of investments                                                                                 8,000,000   9,000,000 615,400,000                                                                                        
Sale price of worldwide rights           55,000,000                                                                                                                                                                    
Period of payment of minimum royalties from commercialization of development product           3 years                                                                                                                                                                    
Payment of assumed debt                                                                                                                         37,900,000                                                      
Payments of contingent consideration 15,130,000 18,826,000 98,069,000 79,844,000                                                                                                             1,700,000 38,300,000                               6,700,000 5,000,000 6,500,000 5,000,000                  
Restricted cash and cash equivalents                                                                                                                                             7,900,000                                  
Term of exclusive supply agreement                                                                                                                                                   10 years 10 years                          
Percentage of sales relating to the acquired assets                                                                                                                                                   90.00% 90.00%                          
Time restriction of contractual arrangement dependent on nature of claim                                                                                                                                                                       2 years 5 years      
Purchase price has been placed in escrow in accordance with the indemnification provisions                                                                                                                                                                   12,900,000 22,500,000          
Period of escrow account                                                                                                                                                                   2 years 2 years          
Percentage of purchase price that has been placed in escrow in accordance with the indemnification provisions                                                                                                                                                                   50.00% 50.00%          
Pro forma acquisition accounting adjustment on inventory sold subsequent to acquisition date 148,700,000   216,600,000                                                                                                                                                                          
Pro forma acquisition-related costs $ 7,200,000   $ 19,600,000                                                                                                                                                                          
[1] The cash consideration paid for B&L stock options and restricted stock attributable to pre-combination services has been included as a component of purchase price. The remaining $4.3 million balance related to the acceleration of unvested stock options for B&L employees was recognized as a post-combination expense within Restructuring, integration and other costs in the third quarter of 2013.
[2] The significant components of the acquired in-process research and development (“IPR&D”) assets primarily relate to the development of (i) various vision care products ($193.4 million in the aggregate), such as a novel silicone hydrogel planned replacement lens, (ii) various pharmaceutical products ($170.5 million, in the aggregate), such as latanoprostene bunod, a nitric oxide-donating prostaglandin for reduction of elevated intraocular pressure in patients with glaucoma or ocular hypertension, and (iii) various surgical products ($34.2 million, in the aggregate). See note 5 titled “COLLABORATION AGREEMENTS” for further information related to the worldwide licensing agreement with NicOx, S.A. (“NicOx”) for latanoprostene bunod. A multi-period excess earnings methodology (income approach) was used to determine the estimated fair values of the acquired IPR&D assets from market participant perspective. The projected cash flows from these assets were adjusted for the probabilities of successful development and commercialization of each project. A risk-adjusted discount rate of 10% was used to present value the projected cash flows. As of the acquisition date, the Company estimated that it will incur development costs, including certain milestone payments, of approximately $100 million, in the aggregate, to complete the development of the IPR&D assets. In determining fair value for latanoprostene bunod and the novel silicone hydrogel planned replacement lens, the Company assumed that material cash inflows for these products would commence in 2016 and 2014, respectively.
[3] The acquired IPR&D assets relate to the Obagi and Natur Produkt acquisitions. Obagi’s acquired IPR&D assets primarily relate to the development of dermatology products for anti-aging and suncare. Natur Produkt’s acquired IPR&D assets include a product indicated for the prevention of viral diseases, specifically cold and flu, and a product indicated for the treatment of inflammation and muscular disorders.
[4] Effective in the first quarter of 2013, the Company has two reportable segments: Developed Markets and Emerging Markets. Accordingly, the Company has restated prior period segment information to conform to the current period presentation. For further details, see note 20 titled “SEGMENT INFORMATION”.
[5] Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the values assigned to the assets acquired and liabilities assumed. None of the goodwill is expected to be deductible for tax purposes. The goodwill recorded represents the following:•the Company’s expectation to develop and market new product brands, product lines and technology;•cost savings and operating synergies expected to result from combining the operations of B&L with those of the Company;•the value of the continuing operations of B&L’s existing business (that is, the higher rate of return on the assembled net assets versus if the Company had acquired all of the net assets separately); and•intangible assets that do not qualify for separate recognition (for instance, B&L’s assembled workforce).The provisional amount of goodwill has been allocated to the Company’s Developed Markets segment ($3,271.6 million) and Emerging Markets segment ($1,116.4 million).
[6] The goodwill relates primarily to the Obagi and Natur Produkt acquisitions. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the values assigned to the assets acquired and liabilities assumed. None of Obagi’s and Natur Produkt’s goodwill is expected to be deductible for tax purposes. The goodwill recorded from the Obagi and the Natur Produkt acquisitions represents primarily the cost savings, operating synergies and other benefits expected to result from combining the operations with those of the Company. The amount of goodwill from the Eisai acquisition has been allocated to the Company’s Developed Markets segment. The provisional amount of goodwill from the Natur Produkt acquisition has been allocated to the Company’s Emerging Markets segment. The amount of goodwill from the Obagi acquisition has been allocated primarily to the Company’s Developed Markets segment.