Table:
|  | Preliminary | Measurement |  |
| --- | --- | --- | --- |
|  | Allocation | Period | Final Allocation |
| (In millions) | As of August 1, 2018 | Adjustments | As of September 30, 2019 |
| Total consideration transferred | $ 70.8 | $ 3.3 | $ 74.1 |
| Assets: |  |  |  |
| Cash and cash equivalents | 2.9 | 0.4 | 3.3 |
| Trade receivables, net | 30.8 | — | 30.8 |
| Inventories, net | 7.1 | — | 7.1 |
| Prepaid expenses and other current assets | 0.7 | — | 0.7 |
| Property and equipment, net | 3.5 | (0.4) | 3.1 |
| Identifiable intangible assets, net | 18.6 | 0.7 | 19.3 |
| Goodwill | 21.6 | 1.0 | 22.6 |
| Other non-current assets | 0.7 | (0.4) | 0.3 |
| Total assets | $ 85.9 | $ 1.3 | $ 87.2 |
| Liabilities: |  |  |  |
| Current portion of long-term debt | — | 0.1 | 0.1 |
| Accounts payable | 13.8 | (2.2) | 11.6 |
| Other current liabilities | 1.3 | (0.1) | 1.2 |
| Long-term debt, less current portion | — | 0.2 | 0.2 |
| Total liabilities | $ 15.1 | $ (2.0) | $ 13.1 |
Paragraphs:
Acquisition of AFP
On August 1, 2018, the Company acquired AFP, Inc., a privately held fabricator of foam, corrugated, molded pulp and wood packaging solutions, to join its Product Care division. This acquisition expands our protective packaging offerings in the electronic, transportation and industrial markets with custom engineered applications. We acquired 100% of AFP shares for an estimated consideration of $74.1 million, excluding $3.3 million of cash acquired.
The following table summarizes the consideration transferred to acquire AFP and the final allocation of the purchase price among the assets acquired and liabilities assumed.
Question:
What is the liability to asset ratio as of August 1, 2018?
Answer: 15.1/85.9 = 17.58