Acquistions Acquisitions

3 Months Ended

Mar. 31, 2017

Business Combinations [Abstract]

Business Combination Disclosure

Acquisitions

In March 2017, the Company acquired an 89.5% ownership interest for $72.5 million in a company engaged in providing textile solutions world-wide. The fair value of the assets acquired and liabilities assumed have been estimated based on a preliminary valuation. The fair values of the assets and liabilities will be adjusted, as needed, following completion of the final valuation.

The following table summarizes the initial estimated fair value of net assets acquired and liabilities assumed for the business combination completed in 2017:

(In thousands)	2017
Cash and cash equivalents	$	1,154
Real estate, furniture and equipment	6,434
Goodwill and other intangibles assets	62,406
Other assets	9,417
Total assets acquired	79,411
Other liabilities assumed	(1,911		)
Noncontrolling interest	(5,000		)
Net assets acquired	$	72,500

In February 2016, the Company acquired an 85% ownership interest for $42.3 million in a company engaged in the distribution of promotional merchandise.