|
SUBSEQUENT EVENT SUBSEQUENT EVENTS
|
9 Months Ended |
|---|---|
|
Sep. 28, 2014
|
|
| Subsequent Events [Abstract] | |
| Subsequent Events |
NOTE 16. SUBSEQUENT EVENTS
Acquisition of Cummins Npower LLC
On September 29, 2014, we acquired the remaining 50 percent interest in Cummins Npower LLC (Npower) from the former distributor principal for consideration of approximately $39 million in cash and an additional $33 million paid to creditors to eliminate all debt related to the entity, or total consideration of $72 million, subject to customary purchase price adjustments.
Acquisition of Cummins Power South LLC
On September 29, 2014, we acquired the remaining 50 percent interest in Cummins Power South LLC (Power South) from the former distributor principal for consideration of approximately $19 million in cash and an additional $16 million paid to creditors to eliminate all debt related to the entity, or total consideration of $35 million, subject to customary purchase price adjustments.
These acquisitions will be accounted for as business combinations and the results of the acquired entities will be included in the Distribution operating segment beginning with the fourth quarter of 2014.
|