XML 34 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
ACQUISITIONS (Tables)
3 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Business Acquisition [Line Items]    
Business Acquisition, Pro Forma Information [Table Text Block]
 
 
   Three Months Ended June 30,
 
 
2013
 
2012
Net Sales
 
$
948,879

 
$
957,289

Net income
 
79,199

 
81,384

Earnings per share—basic
 
$
1.56

 
$
1.65

Earnings per share—diluted
 
$
1.50

 
$
1.56

 
GPECS [Member]
   
Business Acquisition [Line Items]    
Business Combination, Separately Recognized Transactions [Table Text Block]  
The table below presents the provisional estimated fair value of assets acquired and liabilities assumed on the acquisition date based on the best information it has received to date, in accordance with ASC 805. The Company is awaiting final appraisal of tangible assets, intangible assets and certain contingent liabilities related to the GPECS acquisition. Accordingly, the Company has adjusted the value of intangible assets, property and equipment and contingent liabilities to draft appraisals. During the three months ended June 30, 2013, the Company recognized an increase of $29,511 in the provisional value of intangible assets as a result of the recognition of a definite-lived technology intangible asset and changes in the fair value of customer relationships acquired. Additionally, the Company recognized other immaterial adjustments to various assets acquired and liabilities assumed as of the acquisition date. These purchase price adjustments decreased the provisionally recognized goodwill by $27,963 and have been reflected retrospectively as of March 31, 2013 in the accompanying Consolidated Balance Sheet. The effect on net income for the period March 18, 2013 through March 31, 2013 was not material. Therefore, the allocation of the purchase price of the GPECS acquisition is not complete and the amounts below report the Company's best estimate of the fair value based on the information available at this time:
 
March 18, 2013
Accounts receivable
$
15,888

Inventory
41,219

Prepaid expenses and other
568

Property and equipment
26,906

Goodwill
94,793

Intangibles assets
109,100

Deferred taxes
34,936

  Total assets
$
323,410

 
 
Accounts payable
$
16,000

Accrued expenses
15,771

Acquired contract liabilities, net
80,000

Other noncurrent liabilities
2,989

  Total liabilities
$
114,760

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]  
The following table is a summary of the fair value estimates of the identifiable intangible assets and their estimated useful lives:
 
Estimated Useful Life
Estimated Fair Value
Technology
10 years
$
19,100

Customer relationships
20 years
90,000

 
 
$
109,100

Primus Corporation [Member]
   
Business Acquisition [Line Items]    
Business Combination, Separately Recognized Transactions [Table Text Block]
The table below presents the provisional estimated fair value of assets acquired and liabilities assumed on the acquisition date based on the best information it has received to date, in accordance with ASC 805. These estimates will be revised as the Company receives final appraisal of tangible and intangible assets, certain liabilities assumed and other information related to the Primus acquisition. Accordingly, the amounts below report the Company's best estimate of the fair value based on the information available at this time:
 
May 6, 2013
Cash
$
2,201

Accounts receivable
17,349

Inventory
19,102

Prepaid expenses and other
883

Property and equipment
47,244

Goodwill
5,532

Intangibles assets
4,168

Other noncurrent assets
5,546

  Total assets
$
102,025

 
 
Accounts payable
$
10,027

Accrued expenses
23,704

Deferred taxes
4,764

  Total liabilities
$
38,495

 
Embee Incorporated [Member]
   
Business Acquisition [Line Items]    
Business Combination, Separately Recognized Transactions [Table Text Block]  
The table below presents the provisional estimated fair value of assets acquired and liabilities assumed on the acquisition date based on the best information it has received to date, in accordance with ASC 805:

 
December 19, 2012
Cash
$
750

Accounts receivable
6,956

Inventory
411

Prepaid expenses and other
507

Property and equipment
14,360

Goodwill
69,740

Intangible assets
55,501

Deferred taxes
509

Other assets
6,738

  Total assets
$
155,472

 
 
Accounts payable
$
1,591

Accrued expenses
2,458

Other noncurrent liabilities
9,560

  Total liabilities
$
13,609

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
The following table is a summary of the fair value estimates of the identifiable intangible assets and their estimated useful lives:
 
Estimated Useful Life
Estimated Fair Value
Tradename
Indefinite-lived
$
13,400

Customer relationships
10 years
42,101

 
 
$
55,501