v3.25.2
ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Allocation of the Purchase Price
The components of the purchase price are as follows:

(In millions)January 2, 2024
Cash$11,156 
Common shares (58,608,959 shares at $51.20 per share)
3,001 
Total consideration$14,157 
Schedule of Allocation of the Purchase Price
The preliminary allocation of the purchase price is as follows:

(In millions)Preliminary January 2, 2024Measurement Period AdjustmentsAs Adjusted January 2, 2024
Cash and cash equivalents$394 $(1)$393 
Accounts receivable408 5 413 
Inventories948 (28)920 
Other current assets17 — 17 
Fixed assets913 6 919 
Intangible assets6,640 5 6,645 
Other assets284 15 299 
Accounts payable(288)(2)(290)
Other liabilities, current(626)(37)(663)
Future income tax obligations(1,825)15 (1,810)
Other liabilities(284)(17)(301)
Total identifiable net assets6,581 (39)6,542 
Goodwill7,576 31 7,607 
Total consideration$14,157 $(8)$14,149 
Schedule of Intangible Assets Based on Estimate of Fair Value
The Company recorded intangible assets based on its estimate of fair value which consisted of the following:

(In millions)Estimated Useful Life (in years)Intangible Assets Acquired
Customer relationships17$4,787 
Technology
10 - 20
1,051 
Trademark40679 
Backlog1123 
Other505 
Total intangible assets acquired$6,645 
Schedule of Business Acquisition, Pro Forma Information
The following table summarizes the results of the VCS Business since the date of acquisition:

(In millions)2024
Net sales$3,266 
Net earnings (loss)(400)
The following unaudited pro forma financial information is presented to illustrate the estimated effects of the acquisition of the VCS Business as if the business combination had occurred on January 1, 2023:

(In millions)20242023
Net sales$22,486 $23,342 
Net earnings (loss)1,272 1,163