NOTE 18  ACQUISITIONS On June 5, 2019, we completed our acquisition (the Nanopharm Acquisition) of all of the outstanding capital stock of Nanopharm Ltd. (Nanopharm). Nanopharm, located in Newport, UK, is a science-driven, leading provider of orally inhaled and nasal drug product design and development services. The purchase price was approximately $38.1 million (exclusive of $1.8 million of cash acquired) and was funded by cash on hand. The results of Nanopharms operations have been included in the consolidated financial statements within our Pharma segment since the date of acquisition. We are in the process of finalizing purchase accounting. On May 31, 2019, we completed our acquisition (the Gateway Acquisition) of all of the outstanding capital stock of Gateway Analytical LLC (Gateway). Gateway, located in Gibsonia, PA, provides industry-leading particulate detection and predictive analytical services to customers developing injectable medicines. The purchase price was approximately $7.0 million and was funded by cash on hand. As part of the Gateway Acquisition, we are also obligated to pay to the selling shareholders of Gateway certain contingent consideration based on 2020 and 2022 performance targets defined in the purchase agreement. Based on projections as of the acquisition date, we estimated the aggregate fair value for this contingent consideration arrangement to be $3.0 million. We are in the process of finalizing purchase accounting. The results of Gateways operations have been included in the consolidated financial statements within our Pharma segment since the date of acquisition. On August 27, 2018, we completed our acquisition (the CSP Technologies Acquisition) of all of the outstanding capital stock of CSP Technologies S.a r.l. (CSP Technologies). CSP Technologies is a leader in active packaging technology based on proprietary material science expertise for the pharma and food service markets. CSP Technologies operates two manufacturing locations in the U.S. and one in France. The purchase price was approximately $553.5 million and was funded by cash on hand. At acquisition, we maintained $5.0 million in an escrow account and classified this amount as restricted cash pending the finalization of a working capital adjustment. These funds were released from restriction in January 2019, which resulted in a refund of $964 thousand and a corresponding reduction of our purchase price and the associated goodwill balance in the amount of the refund. The following table summarizes the assets acquired and liabilities assumed related to the CSP Technologies Acquisition as of the acquisition date at estimated fair value. ? ? ? ? ? ? ? ? August 27, 2018 Assets ? ? ? ? Cash and equivalents ? $ 24,053 ? Accounts receivable ? 20,847 ? Inventories ? 42,169 ? Prepaid and other ? 3,995 ? Property, plant and equipment ? 99,194 ? Goodwill ? 278,020 ? Intangible assets ? 177,120 ? Other miscellaneous assets ? 1,039 ? Liabilities ? ? ? ? Current maturities of long-term obligations ? 129 ? Accounts payable and accrued liabilities ? 31,989 ? Long-term obligations ? 6,037 ? Deferred income taxes ? 38,442 ? Retirement and deferred compensation plans ? ? 1,038 ? Deferred and other non-current liabilities ? 15,344 ? Net assets acquired ? $ 553,458 ? ? The following table is a summary of the fair value estimates of the acquired identifiable intangible assets and weighted-average useful lives as of the acquisition date related to the CSP Technologies Acquisition: ? ? ? ? ? ? ? ? ? ? Weighted-Average ? Estimated ? ? Useful Life ? Fair Value ? ? (in years) ? of Asset Acquired technology 12 ? $ 46,700 ? Customer relationships 16 ? 113,300 ? Trademarks and trade names ? 9 ? ? 14,600 ? License agreements and other 11 ? 2,520 ? Total ? ? ? $ 177,120 ? ? Goodwill, net of working capital settlement, in the amount of $277.1 million was recorded for the CSP Technologies Acquisition, of which $173.4 million and $103.7 million is included in the Pharma and Food + Beverage segments, respectively. Goodwill is calculated as the excess of the consideration transferred over the net assets acquired and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill largely consists of leveraging our commercial presence in selling the CSP Technologies line of products in markets where CSP Technologies did not previously operate and the ability of CSP Technologies to maintain its competitive advantage from a technical viewpoint. Goodwill will not be amortized, but will be tested for impairment at least annually. We do not expect any of the goodwill will be deductible for tax purposes. The unaudited pro forma results presented below include the effects of the CSP Technologies Acquisition as if it had occurred as of January 1, 2017. The unaudited pro forma results reflect certain adjustments related to the acquisition, such as intangible asset amortization, fair value adjustments for inventory and financing costs related to the change in our debt structure. The pro forma results do not include any synergies or other expected benefits of the acquisition. Accordingly, the unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been completed on the date indicated. ? ? ? ? ? ? ? ? ? ? ? ? Three Months Ended ? ? Six Months Ended ? ? ? ? June 30, 2018 ? ? June 30, 2018 ? ? ? ? ? ? ? ? ? Net Sales ? $ 748,106 ? $ 1,485,536 ? Net Income Attributable to AptarGroup Inc. ? 50,476 ? 110,592 ? Net Income per common share  basic ? 0.81 ? 1.78 ? Net Income per common share  diluted ? 0.78 ? 1.71 ? ? On May 1, 2018, we acquired 100% of the common stock of Reboul, a French manufacturer specializing in stamping, decorating and assembling metal and plastic packaging for the cosmetics and luxury markets, for a purchase price of approximately $3.6 million (exclusive of $112 thousand of cash acquired) (the Reboul Acquisition). The results of Rebouls operations have been included in the consolidated financial statements within our Beauty + Home segment since the date of acquisition. In May 2018, we invested $10.0 million in preferred equity stock of Reciprocal Labs Corporation, doing business as Propeller Health, which was accounted for at cost. No impairment charges were recorded during 2018 or 2019 against this investment. During the fourth quarter of 2018, we recorded a gain of approximately $6.5 million by adjusting the carrying amount to its expected proceeds as this investment was ultimately sold during January 2019.