Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION ACQUISITION (Tables)

v3.20.2
ACQUISITION ACQUISITION (Tables)
 9 Months Ended
Sep. 27, 2020
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The Hydrogenics Corporation acquisition for the nine months ended September 29, 2019 was as follows:
Entity Acquired (Dollars in millions) Date of Acquisition Additional Percent Interest Acquired Payments to Former Owners Total Purchase Consideration
Type of Acquisition(1)
Goodwill Acquired
Intangibles Recognized(2)
Net Sales Previous Fiscal Year Ended
2019
Hydrogenics Corporation 9/09/19 81% $ 235  $ 235  COMB $ 161  $ 161  $ 34 
(1) The newly consolidated entity was accounted for as business combinations (COMB) and was included in the New Power segment on the date of acquisition.
(2) Intangible assets acquired in the business combination were mostly technology and customer related, the majority of which will be amortized over a period of up to 20 years from the date of the acquisition.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The final purchase price allocation was as follows:
In millions
Inventory $ 21 
Other current assets 25 
Intangible assets
Technology assets 96 
Customer relationships 29 
In-process research and development 35 
Other intangible assets 1 
Goodwill 161 
Other assets 18 
Current liabilities (53)
Other liabilities (42)
Total business valuation 291 
Less: Noncontrolling interest 56 
Total purchase consideration $ 235