Business Acquisitions and Investments (Tables)

3 Months Ended

Mar. 01, 2014

Summary of estimated fair values of assets and liabilities assumed during acquisition

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition of CLARCOR Industrial Air:



Accounts receivable		$	30,171
Inventories		41,959
Other current assets		1,059
Plant assets		22,784
Goodwill		72,697
Intangible assets		133,020
	Total assets acquired	301,690
Total liabilities		43,984
	Net assets acquired	$	257,706

Schedule of intangible assets acquired

A summary of the intangible assets acquired, weighted-average useful lives and amortization methods is shown in the following table:



	Estimated		Weighted average	Amortization
Identifiable intangible assets	Value		Useful life	Method
Trade names	$	35,100	Indefinite	Not amortized
Customer relationships	77,300		13 years	Straight-line
Developed technology	19,900		13 years	Straight-line
GE Transitional Trademark License	50		Less than 1 Year	Accelerated
Backlog	670		Less than 1 Year	Accelerated
	$	133,020

Schedule of pro forma information



	Three Months Ended				Three Months Ended
	March 1, 2014				March 2, 2013
	As reported		Pro forma		As reported		Pro forma
Net sales	$	312,685	$	328,112	$	256,271	$	307,335
Operating profit	31,266		39,020		33,815		26,761
Net earnings attributable to CLARCOR	24,321		30,085		23,462		18,157
Diluted earnings per share	$	0.48	$	0.59	$	0.47	$	0.36