米国における企業買収時のPurchase Price Allocationの状況（CFOより）

Purchase Price Allocation to Goodwill Drops

フーリハン・ローキーという会社（オリックスと関係のある会社のようです）が2012年の買収取引（取得側の会社が米国の上場会社であるもの）511件を調べた結果によると、取得対価（買収価格＋引き受けた債務額）のうち、多くの部分が無形資産とのれんだったそうです。

In early September, Houlihan Lokey released its twelfth annual benchmarking report on purchase price allocation, which looked at 511 transactions in which the acquiring company was based in the United States and publicly held. The study uses purchase consideration ― the sum of the purchase price paid and liabilities assumed in connection with a business combination.

The report found that intangible assets and goodwill ― the purchase consideration that is above the value of the current and tangible assets of the target company ― did make up a large chunk of the price acquirers paid last year.

金融機関を除き、32％が無形資産、31％がのれんに配分されています。前年と比べて無形資産への配分割合は上昇、のれんへの配分割合は下落しているそうです。

Excluding financial-institution transactions, which have uniquely large allocations to intangible assets, the percentage of the purchase consideration allocated to intangible assets increased to 32 percent on average in 2012, up from 26 percent in 2011. The percentage of purchase consideration allocated to goodwill, on the other hand, dropped to 31 percent on average in 2012, compared with 38 percent in 2011.

無形資産は具体的には以下のようなものだそうです（計上される例が多いもの）。

The intangible-assets acquirers most frequently identified were customer-related intangible assets (53 percent of deals), trademarks and trade names (41 percent), developed technology (39) and in-process research and development (9 percent). Other intangible assets typically included, among others, were non-compete agreements, licenses, permits and other contracts or agreements, according to Houlihan Lokey.

日本企業のデータもどこかで調べて公表してほしいものです。取得価額の配分をきちんとやっているのかという点も気になります。

M&Aにおける取得原価配分（PPA）－日本基準（新日本監査法人）