Quest Diagnostics 2012 Annual Report Download - page 92

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F- 19
The following table summarizes the consideration paid for Celera and the amounts of assets acquired
and liabilities assumed at the acquisition date:
Fair Values
as of
May 4,
2011
Cash and cash equivalents $ 112,312
Short-term marketable securities 213,418
Accounts receivable 16,810
Other current assets 26,796
Property, plant and equipment 11,091
Intangible assets 85,830
Goodwill 135,624
Non-current deferred income taxes 102,838
Other assets 34,586
Total assets acquired 739,305
Current liabilities 59,008
Long-term liabilities 10,717
Total liabilities assumed 69,725
Net assets acquired $ 669,580
The acquired amortizable intangible assets are being amortized over their estimated useful lives as follows:
Fair Values
Weighted
Average
Useful Life
Outlicensed technology $ 46,450 6 years
Technology 21,730 8 years
Customer relationships 6,750 9 years
Tradename 5,400 5 years
$ 80,330
In addition to the amortizable intangible assets noted above, $5.5 million was allocated to in-process research and
development.
Of the amount allocated to goodwill and intangible assets, approximately $28 million is deductible for tax purposes.
Of the total goodwill acquired in connection with the Celera acquisition, approximately $104 million has been allocated to the
Company's DIS business, with the remainder allocated to the Company's Diagnostics Solutions ("DS") business.
The goodwill recorded as part of the Athena and Celera acquisitions includes: the expected synergies resulting from
combining the operations of the acquired businesses with those of the Company; and the value associated with an assembled
workforce that has a historical track record of identifying opportunities, developing services and products, and commercializing
them.
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED
(dollars in thousands unless otherwise indicated)