v3.26.1
Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of business combinations
The consideration transferred to Marel shareholders on the acquisition date consisted of the following:

(In millions, except per share data and exchange rates)
JBT shares issued to Marel shareholders19.5 
JBT share price on January 2, 2025$124.94 
Value of JBT shares issued to Marel shareholders$2,436 
Cash consideration to Marel shareholders (in €)€927 
EUR to USD Exchange Rate1.0353 €/$
Cash consideration to Marel shareholders (in $)$959 
Settlement of Marel debt$868 
Settlement of Marel interest rate swaps$3 
Fair value of Marel stock options attributable to pre-combination vesting$6 
Purchase consideration$4,272 
Schedule of assets acquired and liabilities assumed
The following table summarizes the fair values recorded for the assets acquired and liabilities assumed for Marel:
(In millions)Preliminary Purchase Price Allocation
Measurement Period Adjustments(1)
Final Purchase Price Allocation
Financial assets$402 $— $402 
Inventories344 (2)342 
Property, plant and equipment493 61 554 
Right-of-use assets42 (5)37 
Customer relationship1,570 (410)1,160 
Acquired technology410 (40)370 
Trademarks260 (30)230 
Deferred taxes(515)112 (403)
Financial liabilities(630)(26)(656)
Total identifiable net assets$2,376 $(340)$2,036 
Purchase consideration$4,272 $— $4,272 
Noncontrolling interest (2)
$86 $— $86 
Goodwill$1,982 $340 $2,322 
(1) In the measurement period, the Company recorded measurement period adjustments to the purchase price allocation as it obtained information and completed its valuation of certain assets and liabilities. The impact of these adjustments was reflected as a net increase in goodwill.
(2) The Company acquired 97.5% of the equity interests of Marel and recognized a non-controlling interest in Marel on the acquisition date. The non-controlling interest was recognized at fair value, which was estimated based upon the trading price of the Company’s common stock on the acquisition date and the types of consideration that non-controlling interest holders were eligible to receive. The Company subsequently acquired the remaining 2.5% of Marel’s equity interests, as described above.
Business Combination, Pro Forma Information