Acquisitions (Tables)

9 Months Ended

Sep. 30, 2015

Purchase Price Allocation of Assets Acquired and Liabilities Assumed

The Company’s preliminary fair valuation of assets acquired and liabilities assumed, which is subject to further refinement, is based on all available information, including, in part, certain preliminary valuations and other analyses. Based on this preliminary fair valuation, the purchase price is allocated as follows:

Preliminary Purchase Price Allocation (in millions):
Preliminary value assigned:
Accounts receivable	$	83.5
Inventories		141.2
Other current assets		19.8
Property, plant and equipment		139.6
Intangible assets		615.0
Goodwill		668.1
Other assets		2.4
Accounts payable		(36.6	)
Other current liabilities		(78.1	)
Long-term debt		(627.3	)
Non-current deferred tax liability		(234.7	)
Total purchase price, net of cash acquired	$	692.9

Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information presents the combined results of operations of the Company and Waddington for the three and nine months ended September 30, 2015 and 2014 as if the Waddington Acquisition had occurred on January 1, 2014. The unaudited pro forma financial information is not intended to represent or be indicative of the Company’s consolidated results of operations or financial condition that would have been reported had the Waddington Acquisition been completed as of January 1, 2014 and should not be taken as indicative of the Company’s future consolidated results of operations or financial condition. Pro forma adjustments are tax-effected at the Company’s estimated statutory tax rates.

	Three months ended September 30				Nine months ended September 30,
(in millions, except per share data)	2015		2014		2015		2014
Net sales	$	2,328.3	$	2,315.7	$	6,421.1	$	6,330.1
Net income		112.3		112.7		147.8		144.6
Earnings per share:
Basic	$	0.55	$	0.56	$	0.72	$	0.71
Diluted	$	0.52	$	0.55	$	0.69	$	0.70