The following table provides the assets acquired and liabilities assumed from King: | ||||
(MILLIONS OF DOLLARS) | Amounts Recognized as of Acquisition Date(a) | |||
Working capital, excluding inventories | $ | 155 | ||
Inventories | 340 | |||
Property, plant and equipment | 412 | |||
Identifiable intangible assets, excluding in-process research and development | 1,806 | |||
In-process research and development | 303 | |||
Net tax accounts | (328 | ) | ||
All other long-term assets and liabilities, net | 102 | |||
Total identifiable net assets | 2,790 | |||
Goodwill(b) | 765 | |||
Net assets acquired/total consideration transferred | $ | 3,555 | ||
(a) | Includes animal health-related assets and liabilities. In 2013, we disposed of our Animal Health business. For additional information, see Notes to Consolidated Financial Statements—Note 2B. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Divestitures. |
(b) | Goodwill recorded as of the acquisition date totaled $720 million for our three biopharmaceutical operating segments and $45 million for our Animal Health operating segment. (Since the acquisition of King, we have revised our operating segments and disposed of our Animal Health business.) |