Quest Diagnostics 2013 Annual Report Download - page 91

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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
Short-term marketable securities 214
Accounts receivable 17
Other current assets 27
Property, plant and equipment 11
Intangible assets 86
Goodwill 136
Non-current deferred income taxes 103
Other assets 34
Total assets acquired 740
Current liabilities 59
Long-term liabilities 11
Total liabilities assumed 70
Net assets acquired $ 670
The acquired amortizable intangible assets are being amortized over their estimated useful lives as follows:
Fair Values
Weighted
Average
Useful Life
Outlicensed technology $ 46 6 years
Technology 22 8 years
Customer relationships 7 9 years
Tradename 5 5 years
$80
In addition to the amortizable intangible assets noted above, $6 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
(in millions unless otherwise indicated)