Business Combination (Tables)

12 Months Ended

Dec. 31, 2014

Schedule total consideration transferred

The fair value of the total consideration transferred, net of cash acquired, was $1,802.3 million and comprised of the following:

	(millions of dollars)
Cash consideration transferred to AMCOL shareholders	$	1,519.4
AMCOL notes repaid at close		325.6
Total consideration transferred to debt and equity holders		1,845.0
Cash acquired		42.7
Total consideration transferred to debt and equity holders, net of cash acquired	$	1,802.3

Summary of preliminary purchase price allocation for the AMCOL acquisition

The following table summarizes Company’s updated preliminary purchase price allocation for the AMCOL acquisition as of December 31, 2014, and the adjustments made to it since the Company previously reported on Form 10-Q as of September 28, 2014:

	Preliminary Allocation Previously Reported		Increase/ (Decrease)			Preliminary Allocation As Updated
	(millions of dollars)
Accounts receivable	$	235.7	$	-		$	235.7
Inventories		156.6		0.7			157.3
Other current assets		63.7		1.3			65.0
Mineral rights		528.8		6.7			535.5
Plant, property and equipment		378.8		(7.6	)		371.2
Goodwill		704.7		3.4			708.1
Intangible assets		217.9		(3.6	)		214.3
Other non-current assets		48.4		3.0			51.4
Total assets acquired	$	2,334.6	$	3.9		$	2,338.5
Accounts payable		66.4		-			66.4
Accrued expenses		60.9		0.7			61.6
Non-current deferred tax liability		319.1		3.2			322.3
Other non-current liabilities		85.9		-			85.9
Total liabilities assumed	$	532.3	$	3.9		$	536.2
Net assets acquired	$	1,802.3	$	-		$	1,802.3

Unaudited pro forma summary of Consolidated Statements of Income

The following unaudited pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transaction occurred 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 unaudited pro forma information, potential synergies, and cost savings from operating efficiencies.

	Year Ended December 31,
Pro Forma Results	2014			2013
	(millions of dollars)
Net sales		$	2,098.6	$	2,045.1

Income (loss) from continuing operations before provision for taxes and equity in earnings		$	180.1	$	93.7

Income (loss) from continuing operations, net of tax		$	124.7	$	74.1