BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2015

The Company recorded the total consideration of $664.5 million based on the respective estimated fair values of the net assets acquired on the Colomer Acquisition Date with resulting goodwill, as follows:



	Amounts Previously Recognized as of October 9, 2013 (Provisional) ^(a)		Measurement Period Adjustments			Amounts Recognized as of Colomer Acquisition Date (Adjusted)
Cash and cash equivalents	$	36.9	$	—		$	36.9
Trade receivables	83.9		—			83.9
Inventories	75.1		—			75.1
Prepaid expenses and other	31.3		—			31.3
Property, plant and equipment	96.7		—			96.7
Intangible assets^(b)	292.7		5.4			298.1
Goodwill^(b)(c)	255.7		(2.4		)	253.3
Deferred tax asset - noncurrent	53.1		—			53.1
Other assets^(c)	1.9		3.9			5.8
Total assets acquired	927.3		6.9			934.2
Accounts payable	48.0		—			48.0
Accrued expenses and other	65.6		—			65.6
Long-term debt	0.9		—			0.9
Long-term pension and other benefit plan liabilities	4.5		—			4.5
Deferred tax liability^(b)	123.3		2.1			125.4
Other long-term liabilities^(c)	20.5		4.8			25.3
Total liabilities assumed	262.8		6.9			269.7
Total consideration	$	664.5	$	—		$	664.5

^(a) As previously reported in Revlon, Inc.'s 2013 and 2014 Annual Reports on Form 10-K.

^(b) The Measurement Period Adjustments to intangible assets, deferred tax liability and goodwill in the first quarter of 2014 related to a change in assumptions used to calculate the fair value of an acquired customer relationship intangible asset, which increased the intangible asset by $5.4 million and extended the life of the asset from 10 to 20 years, increased deferred tax liabilities by $2.1 million and resulted in a net decrease to goodwill of $3.3 million.

^(c) The Company recorded a $3.9 million income tax adjustment to the beginning tax balance within other assets and a $4.8 million adjustment to other long-term liabilities, resulting in a net increase to goodwill of $0.9 million.

The table below summarizes the allocation of the total consideration of $34.6 million paid on the CBB Acquisition Date, as well as adjustments for changes in working capital during the third quarter of 2015, with resulting goodwill, as follows:



	Amounts recognized at April 21, 2015 (Provisional)^(a)		Measurement Period Adjustments			Amounts recognized at April 21, 2015 (Adjusted)
Total Tangible Net Assets Acquired ^(b)	$	3.9	$	(1.6	)	$	2.3
Purchased Intangible Assets ^(c)	11.9		0.2			12.1
Goodwill	18.8		0.7			19.5
Total consideration transferred	$	34.6	$	(0.7	)	$	33.9

^(a) As previously reported in Revlon, Inc.'s second quarter 2015 Form 10-Q.

^(b) Total net assets acquired in the CBB Acquisition are comprised primarily of inventory, trade receivables and accounts payable.

^(c) Purchased intangible assets include customer networks valued at $7.0 million, distribution rights valued at $3.5 million and trade names valued at $1.6 million, with weighted average remaining useful lives of 14, 5 and 8 years, respectively.

Acquisition and Integration Costs

The Company also completed the following acquisitions during 2015:



	Purchase Consideration		Total Net Assets Acquired		Purchased Intangible Assets		Goodwill
American Crew and Revlon Professional Distribution Rights - Australia ⁽¹⁾	$	4.4	$	1.4	$	2.9	$	—
Cutex U.S. ⁽²⁾	8.1		1.0		5.2		1.9
Total	$	12.5	$	2.4	$	8.1	$	1.9


⁽¹⁾	In March 2015, the Company re-acquired rights to distribute its American Crew and Revlon Professional brands in Australia. The Company acquired customer relationships valued at $2.9 million, with weighted average remaining useful lives of 10 years.


⁽²⁾	In October 2015, the Company acquired the U.S. Cutex business and related assets from Cutex Brands, LLC (the "Cutex Acquisition"). The Company acquired inventory at fair value of approximately $1.0 million, trade names valued at $3.6 million and customer relationships valued at $1.6 million, with weighted average remaining useful lives of 10 years.

For 2015, 2014 and 2013, respectively, the Company incurred acquisition and integration costs related to the Colomer Acquisition, summarized as follows:



	Year Ended December 31,
	2015		2014		2013
Acquisition costs	$	—	$	0.5	$	12.9
Integration costs	2.1		5.9		12.5
Total acquisition and integration costs	$	2.1	$	6.4	$	25.4

Acquired Intangible Assets

The intangible assets acquired in the Colomer Acquisition, based on the fair values of the identifiable intangible assets, were as follows:



	Fair Values at October 9, 2013		Weighted Average Useful Life (in years)
Trade names, indefinite-lived	$	108.6	Indefinite
Trade names, finite-lived	109.4		5 - 20
Customer relationships	62.4		15 - 20
License agreement	4.1		10
Internally-developed IP	13.6		10
Total acquired intangible assets	$	298.1

Pro Forma Results

The Company's pro forma consolidated net sales and income from continuing operations, before income taxes for 2013, are presented in the following table:



	Unaudited Pro Forma Results
	Year Ended December 31, 2013
Net sales	$	1,908.9
Income from continuing operations, before income taxes	135.2