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Business Combinations (Tables)
12 Months Ended
Dec. 31, 2014
Business Combinations [Abstract]  
Purchase Price Allocations For Acquisitions
The purchase price allocations for the acquisitions completed during 2014 and 2013 are as follows (in thousands):
 
 
Year Ended
 
Year Ended
 
December 31, 2014
 
December 31, 2013
 
Keystone
Specialty
 
Other Acquisitions
 
Total
 
Sator
 
Other Acquisitions
 
Total
Receivables
$
48,473

 
$
75,330

 
$
123,803

 
$
61,639

 
$
38,685

 
$
100,324

Receivable reserves
(7,748
)
 
(7,383
)
 
(15,131
)
 
(8,563
)
 
(3,246
)
 
(11,809
)
Inventory
150,696

 
123,815

 
274,511

 
71,784

 
26,455

 
98,239

Income taxes receivable
14,096

 

 
14,096

 

 

 

Prepaid expenses and other current assets
8,085

 
4,050

 
12,135

 
7,184

 
1,933

 
9,117

Property and equipment
38,080

 
27,026

 
65,106

 
19,484

 
14,015

 
33,499

Goodwill
237,729

 
177,974

 
415,703

 
142,721

 
92,726

 
235,447

Other intangibles
78,110

 
51,135

 
129,245

 
45,293

 
12,353

 
57,646

Other assets
6,159

 
2,793

 
8,952

 
2,049

 
1,251

 
3,300

Deferred income taxes
(26,591
)
 
313

 
(26,278
)
 
(14,100
)
 
(564
)
 
(14,664
)
Current liabilities assumed
(63,513
)
 
(52,961
)
 
(116,474
)
 
(49,593
)
 
(36,799
)
 
(86,392
)
Debt assumed

 
(32,441
)
 
(32,441
)
 

 
(664
)
 
(664
)
Other noncurrent liabilities assumed
(11,675
)
 
(10,573
)
 
(22,248
)
 
(5,074
)
 

 
(5,074
)
Contingent consideration liabilities

 
(5,854
)
 
(5,854
)
 

 
(3,854
)
 
(3,854
)
Other purchase price obligations
(13,351
)
 
(333
)
 
(13,684
)
 

 
(214
)
 
(214
)
Notes issued
(31,500
)
 
(13,535
)
 
(45,035
)
 

 
(7,482
)
 
(7,482
)
Settlement of pre-existing balances

 
(5,052
)
 
(5,052
)
 

 

 

Cash used in acquisitions, net of cash acquired
$
427,050

 
$
334,304

 
$
761,354

 
$
272,824

 
$
134,595

 
$
407,419

Pro Forma Effect Of Businesses Acquired
The following pro forma summary presents the effect of the businesses acquired during the year ended December 31, 2014 as though the businesses had been acquired as of January 1, 2013, the businesses acquired during the year ended December 31, 2013 as though they had been acquired as of January 1, 2012 and the businesses acquired during the year ended December 31, 2012 as though they had been acquired as of January 1, 2011. The pro forma adjustments are based upon unaudited financial information of the acquired entities (in thousands, except per share data):
 
Year Ended December 31,
 
2014
 
2013
 
2012
Revenue, as reported
$
6,740,064

 
$
5,062,528

 
$
4,122,930

Revenue of purchased businesses for the period prior to acquisition:
 
 
 
 
 
Keystone Specialty
3,443

 
696,960

 

Sator

 
126,309

 
369,934

Other acquisitions
302,853

 
695,596

 
440,938

Pro forma revenue
$
7,046,360

 
$
6,581,393

 
$
4,933,802

 
 
 
 
 
 
Net income, as reported
$
381,519

 
$
311,623

 
$
261,225

Net income of purchased businesses for the period prior to acquisition, and pro forma purchase accounting adjustments:
 
 
 
 
 
Keystone Specialty
637

 
40,460

 

Sator

 
5,712

 
6,032

Other acquisitions
11,490

 
19,367

 
18,363

Pro forma net income
$
393,646

 
$
377,162

 
$
285,620

 
 
 
 
 
 
Earnings per share-basic, as reported
$
1.26

 
$
1.04

 
$
0.88

Effect of purchased businesses for the period prior to acquisition:
 
 
 
 
 
Keystone Specialty
0.00

 
0.14

 

Sator

 
0.02

 
0.02

Other acquisitions
0.04

 
0.06

 
0.06

Pro forma earnings per share-basic (1) 
$
1.30

 
$
1.26

 
$
0.97

 
 
 
 
 
 
Earnings per share-diluted, as reported
$
1.25

 
$
1.02

 
$
0.87

Effect of purchased businesses for the period prior to acquisition:
 
 
 
 
 
Keystone Specialty
0.00

 
0.13

 

Sator

 
0.02

 
0.02

Other acquisitions
0.04

 
0.06

 
0.06

Pro forma earnings per share-diluted (1) 
$
1.29

 
$
1.24

 
$
0.95


(1) The sum of the individual earnings per share amounts may not equal the total due to rounding.