ACQUISITIONS Business Combinations On April 1, 2020, we completed our acquisition (the Fusion Acquisition) of 100% of the equity interests of Fusion Packaging, Inc. (Fusion) for a purchase price of approximately $163.8 million (net of $1.0 million of cash acquired), which was funded by a draw on our revolving credit facility and cash on hand. Fusion, based in Dallas, TX, is a global leader in the design, engineering and distribution of luxury packaging for the beauty industry. As part of the Fusion Acquisition, we are also obligated to pay to the selling equity holders of Fusion certain contingent consideration based on 2022 cumulative financial performance metrics as defined in the purchase agreement. Based on a projection as of the acquisition date, we estimated the aggregate fair value for this contingent consideration arrangement to be $19.1 million utilizing a Black-Scholes valuation model. As of September 30, 2020, we have estimated the aggregate fair value for this contingent consideration arrangement to be $22.1 million. As of the acquisition date, $2.8 million was held in restricted cash pending the finalization of a working capital adjustment and indemnity escrow. During the third quarter of 2020, $2.0 million related to the working capital escrow was released from restriction, resulting in a refund from seller of $294 thousand and a corresponding decrease to our purchase price and associated goodwill balance. Fusion contributed net sales of $37.9 million and pretax loss of $1.5 million since acquisition for the period ended September 30, 2020 which have been included in the Condensed Consolidated Financial Statements within our Beauty + Home segment. Included in pretax loss is $5.7 million of fair value adjustment amortization for inventory sold during 2020 and contingent consideration liability adjustments. On October 31, 2019, we completed our acquisition (the Noble Acquisition) of 100% of the equity interests of Noble International Holdings, Inc., Genia Medical, Inc. and JBCB Holdings, LLC (collectively referred to as Noble). Noble, based in Orlando, FL, is a leading provider in developing patient-centric advanced drug delivery system training devices including autoinjector, prefilled syringe, onbody and respiratory devices for the worlds leading biopharmaceutical companies and original equipment manufacturers. The purchase price was approximately $62.3 million (net of $1.6 million of cash acquired) and was funded by cash on hand. As part of the Noble Acquisition, we are also obligated to pay to the selling equity holders of Noble certain contingent consideration based on 2024 cumulative financial performance metrics defined in the purchase agreement. Based on projection as of the acquisition date, we estimated the aggregate fair value for this contingent consideration arrangement to be $2.9 million utilizing the Black-Scholes valuation model. As of September 30, 2020, we have estimated the aggregate fair value for this contingent consideration arrangement to be $4.2 million. As of December 31, 2019, $5 million was held in restricted cash pending the finalization of a working capital adjustment and indemnity escrow. During the first quarter of 2020, $1.0 million related to the working capital escrow was released from restriction, resulting in an additional $463 thousand payment due to the seller and a corresponding increase to our purchase price and associated goodwill balance. The results of Nobles operations have been included in the Condensed Consolidated Financial Statements within our Pharma segment since the date of acquisition. 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 (net of $1.8 million of cash acquired) and was funded by cash on hand. The results of Nanopharms operations have been included in the Condensed Consolidated Financial Statements within our Pharma segment since the date of acquisition. On May 31, 2019, we completed our acquisition (the Gateway Acquisition) of all of the outstanding equity interests 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 equity holder 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. During the second quarter 2020, $1.5 million of the contingent consideration accrual was paid as a result of the business meeting their first performance target. During the third quarter 2020, an additional $1.3 million was paid out in full satisfaction of the remaining earn out consideration and a gain of $235 thousand was realized. The results of Gateways operations have been included in the Condensed Consolidated Financial Statements within our Pharma segment since the date of acquisition. The following table summarizes the assets acquired and liabilities assumed as of the acquisition date at estimated fair value.  2020 2019 Assets   Cash and equivalents $ 1,010 $ 3,427 Accounts receivable 4,380 3,504 Inventories 386  Prepaid and other 1,090 2,478 Property, plant and equipment 2,885 4,267 Goodwill 99,644 59,143 Intangible assets 79,900 52,980 Operating lease right-of-use assets 4,744  Other miscellaneous assets 65 430 Liabilities   Accounts payable, accrued and other liabilities 5,641 5,388 Deferred income taxes  2,592 Operating lease liabilities 4,207  Deferred and other non-current liabilities 322 1,598 Net assets acquired $ 183,934 $ 116,651  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:  2020 2019  Weighted-Average Useful Life (in Years) Estimated Fair Value of Assets Weighted-Average Useful Life (in Years) Estimated Fair Value of Assets Acquired technology 4 $ 4,600 8 $ 9,160 Customer relationships 13 62,300 11 39,379 Trademarks and trade names 4 10,300 4 2,457 License agreements and other 0.25 2,700 1 1,984 Total  $ 79,900  $ 52,980  Goodwill in the amount of $99.6 million was recorded related to the Fusion Acquisition which is included in the Beauty + Home segment and $59.1 million was recorded related to the 2019 acquisitions, all of which are included in the Pharma segment. 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 unique relationships, brand equity and proprietary technology that has been established creating niches such as turnkey solutions for the beauty market related to the Fusion Acquisition, analytical services for drug developers related to the Nanopharm Acquisition and Gateway Acquisition and patient onboarding related to the Noble Acquisition, as well as the abilities of the acquired companies to maintain their competitive advantage from a technical viewpoint. Goodwill will not be amortized, but will be tested for impairment at least annually. For the Fusion Acquisition, goodwill of $82.3 million will be deductible for tax purposes. For the 2019 acquisitions, goodwill of $31.1 million will be deductible for tax purposes. The unaudited pro forma results presented below include the effects of the Fusion Acquisition as if it had occurred as of January 1, 2019. 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 September 30, 2020 Nine Months Ended September 30, 2020  2020 2019 2020 2019 Net Sales $ 759,153 $ 719,008 $ 2,187,974 $ 2,244,834 Net Income Attributable to AptarGroup Inc. 63,724 57,191 160,077 196,195 Net Income per common share  basic 0.99 0.89 2.49 3.09 Net Income per common share  diluted 0.95 0.86 2.41 2.97  Asset Acquisition On August 2, 2019, we completed our asset acquisition (the Bapco Acquisition) of the remaining 80% ownership interest in the capital stock of Bapco Closures Holdings Limited (Bapco), for $3.8 million (net of $2.9 million of cash acquired). The 20% ownership investment previously held in Bapco is now included within the intangible assets acquired. Bapco, located in Leeds, UK, provides innovative closures sealing technology that provides package integrity and tamper evidence. The results of Bapcos operations have been included in the Condensed Consolidated Financial Statements within our Food + Beverage segment since the date of acquisition.