68 comprehensive income in a single continuous financial statement, which was previously presented within the Consolidated Statements of Changes in T otal Equity . In September 201 1, the F ASB issued ASU No. 201 1-08 accounting guidance related to the testing of goodwill for impairment ASC 350 - Intangibles-Goodwill and Other . Under this guidance, entities will have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying value. This guidance will become ef fective for the Company on December 31, 2012. The adoption of this guidance is not expected to have a material impact on the consolidated financial statements. In February 2013, the F ASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income”. The objective of this ASU is to improve reporting by requiring entities to report the ef fect of significant reclassifications out of accumulated other comprehensive income on the respective line items in the statement of operations. The amendments in this ASU are required to be applied retrospectively and are ef fective for reporting periods beginning after December 15, 2012. The adoption of this ASU will not have any impact on the Company's consolidated financial statements other than revising the presentation relating to items reclassified from accumulated other comprehensive income to the statement of operations. 3. Acquisitions and Divestitur es Alcan Cable North America On September 4, 2012 , the Company completed the acquisition of the North American business of Alcan Cable North America for $ 151.0 million , subject to additional customary adjustments of $20.3 million as anticipated in the purchase agreement, primarily related to estimated working capital levels at closing. The Company paid $171.3 million in cash to the sellers at closing in consideration for the North American business and expensed $3.3 million in fees and expenses related to the acquisition, reported within SG&A. The final purchase price is subject to further customary adjustments primarily related to working capital levels. The Company estimates the final purchase price adjustments to range from no additional payment to an additional payment of $ 1 1 million . Alcan Cable North America employs over 750 employees in North America and is a leading supplier of aluminum strip products and a leading supplier of both electrical and mechanical rod alloys around the globe.  The acquisition is expected to create syner gies, expand the range of product of ferings, increase production capacity and complement the Company's current investments in Mexico. In 201 1 , the last full year before the acquisition, Alcan Cable North America reported net sales of approximately $610 million . Alcan Cable North America will be consolidated in the North American operating segment. The following table represents a preliminary purchase price allocation based on the estimated fair values, or other measurements as applicable, of the assets acquired and the liabilities assumed, in millions: September 4, 2012 Cash $ — Accounts receivable (1) 74.7 Inventories 70.7 Property , plant and equipment 72.7 Intangible assets 5.9 Goodwill 3.5 Other current and noncurrent assets 2.2 T otal assets $ 229.7 Current liabilities $ 57.1 Other liabilities 1.3 T otal liabilities $ 58.4 (1) Accounts receivable is gross contractual value. As of the acquisition date, the fair value of accounts receivable approximated carrying value. The primary factors that contributed to the acquisition price in excess of the fair value of net assets acquired and the establishment of goodwill was the expansion of product lines and production capacity in the United States and Canada as well as the strategic benefit of adding additional presence in the Mexican market. The resulting goodwill is amortizable for tax purposes. The amount of net sales and operating income included in the Company's actual consolidated results of operations from the acquisition of Alcan Cable North America were $195.0 million and $12.7 million , respectively , for the year ended December 31, 2012 . T able of Contents