National Oilwell Varco 2012 Annual Report Download - page 81

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Index to Financial Statements
4. Acquisitions and Investments
2011
The Company completed nine acquisitions for an aggregate purchase price of $1,038 million, net of cash acquired. These acquisitions included:
The shares of Ameron International Corporation (Ameron), a U.S.-based manufacturer of highly engineered products and materials for the chemical,
industrial, energy, transportation and infrastructure markets.
The shares of Conner Steel Products Holding Company, a U.S.-based manufacturer of storage and handling equipment for the oilfield services industry.
The preliminary allocation of the purchase price of each acquisition was based upon preliminary valuations. The Companys estimates and assumptions are subject to change
upon the receipt, and managements review, of the final valuations. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed
at the date of acquisition of the 2011 acquisitions (in millions):
Ameron All Other
Acquisitions Total
Current assets, net of cash acquired $ 245 $ 106 $ 351
Property, plant and equipment 402 41 443
Intangible assets 142 131 273
Goodwill 199 178 377
Other assets 59 14 73
Total assets acquired 1,047 470 1,517
Current liabilities 154 80 234
Long-term debt 16 16
Other liabilities 173 56 229
Total liabilities 343 136 479
Cash consideration, net of cash acquired $ 704 $ 334 $ 1,038
The Company allocated $273 million to intangible assets (16 year weighted-average life), comprised of: $119 million of customer relationships (14 year weighted-average
life), $39 million of trademarks (35 year weighted-average life), and $115 million of other intangible assets (12 year weighted-average life).
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