Business Combinations (Tables)

12 Months Ended

Jun. 30, 2020

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the consideration transferred, assets acquired, and liabilities assumed in connection with the acquisition of FCX based on their estimated fair values at the acquisition date.



	FCX Acquisition
	2018
Cash	$	11,141
Accounts receivable	80,836
Inventories	44,669
Other current assets	1,753
Property	8,282
Identifiable intangible assets	305,420
Goodwill	440,012
Other assets	775
Total assets acquired	$	892,888
Accounts payable and accrued liabilities	54,035
Other liabilities	2,677
Deferred tax liabilities	54,395
Net assets acquired	$	781,781

Purchase price	$	784,281
Reconciliation of fair value transferred:
Working Capital Adjustments	(2,500		)
Total Consideration	$	781,781

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The change in the carrying amount of goodwill for FCX since the acquisition is as follows:



Balance at 1/31/2018	$	440,012
Impairment	131,000
Balance at 6/30/2020	$	309,012

Goodwill acquired of $161,452 was deductible for income tax purposes at the time of the acquisition. Subsequent to the goodwill impairment recorded during the year ended June 30, 2020, $112,922 remains deductible for income tax purposes as of June 30, 2020.

Net sales, operating income and net income from the FCX acquisition included in the Company’s results since January 31, 2018, the date of the acquisition, are as follows:



	2020 (1)			2019		January 31, 2018 to June 30, 2018
Net sales	$	490,743		$	549,833	$	249,752
Operating income	(97,300		)	38,186		16,845
Net income	(91,739		)	28,075		8,758