Business Acquisitions and Investments (Tables)

9 Months Ended

Aug. 30, 2014



	Three Months Ended										Three Months Ended
	August 30, 2014										August 31, 2013
	As reported		CLARCOR Engine Mobile Solutions			CLARCOR Industrial Air			Pro forma		As reported		CLARCOR Engine Mobile Solutions			CLARCOR Industrial Air			Pro forma
Net sales	$	400,152	$	—		$	—		$	400,152	$	289,126	$	27,384		$	63,019		$	379,529
Operating profit	62,226		—			171		(b)	62,397		41,985		8,325		(d)	6,467		(f)	56,777
Net earnings attributable to CLARCOR	41,703		—			125			41,828		28,707		4,849			4,586			38,142
Diluted earnings per share	$	0.82	$	—		$	—		$	0.82	$	0.57	$	0.10		$	0.09		$	0.76

	Nine Months Ended										Nine Months Ended
	August 30, 2014										August 31, 2013
	As reported		CLARCOR Engine Mobile Solutions			CLARCOR Industrial Air			Pro forma		As reported		CLARCOR Engine Mobile Solutions			CLARCOR Industrial Air			Pro forma
Net sales	$	1,099,479	$	46,837		$	15,422		$	1,161,738	$	832,980	$	77,843		$	163,618		$	1,074,441
Operating profit	144,639		17,677		(a)	8,814		(c)	171,130		125,201		17,602		(e)	3,213		(g)	146,016
Net earnings attributable to CLARCOR	100,576		10,485			6,551			117,612		85,220		9,650			1,956			96,826
Diluted earnings per share	$	1.98	$	0.21		$	0.13		$	2.32	$	1.69	$	0.19		$	0.04		$	1.92


(a)	Includes adjustments to remove transaction costs of $3,035 and cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $1,368, which have been pushed back to the nine months ended August 31, 2013 for pro forma presentation. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(b)	Includes adjustments to cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $126, which have been pushed back to the three and nine month periods ended August 31, 2013 for pro forma presentation.


(c)	Includes adjustments to remove transaction costs of $2,089 and cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $4,342, which have been pushed back to the nine months ended August 31, 2013 for pro forma presentation. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(d)	Includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(e)	Includes adjustments to push back transaction costs of $3,075 and cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $1,368. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(f)	Includes adjustments to push back cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $126. Also includes adjustments to intangible asset amortization, depreciation expense and interest expenese.


(g)	Includes adjustments to push back transaction costs of $3,740 and cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $4,468. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.

Stanadyne [Member]

Business Acquisition [Line Items]

Summary of intangible assets acquired

A summary of the intangible assets acquired is shown in the following table:



	Estimated		Weighted average	Amortization
Identifiable intangible assets	Value		Useful life	Method
Customer relationships	$	135,250	13 years	Straight-line
Developed technology	11,000		10 years	Straight-line
Trademarks	180		Indefinite	Not amortized
	$	146,430

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 Engine Mobile Solutions:



Accounts receivable		$	19,548
Inventories		7,367
Deferred income taxes		4,121
Property, plant and equipment		10,176
Goodwill		194,618
Intangible assets		146,430
	Total assets acquired	382,260
Current liabilities		8,476
Other noncurrent liabilities		2,000
Deferred income taxes		44,065
	Net assets acquired	$	327,719

Schedule of results of acquiree

Net sales and operating profit for CLARCOR Engine Mobile Solutions subsequent to the date it was acquired by the Company for the three and nine months ended August 30, 2014 (which, in the case of the nine-month period ended August 30, 2014, includes the period from May 1, 2014, to August 30, 2014) were as follows:



	Three Months Ended		Nine Months Ended
	August 30, 2014		August 30, 2014
Net sales	$	28,014	$	37,006
Operating profit	7,275		5,348

Air Filtrations Segment of General Electric [Member]

Business Acquisition [Line Items]

Summary 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

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		$	34,453
Inventories		41,884
Other current assets		837
Property, plant and equipment		22,903
Goodwill		74,324
Intangible assets		133,020
	Total assets acquired	307,421
Total liabilities		47,109
	Net assets acquired	$	260,312

Schedule of results of acquiree

Net sales and operating profit for CLARCOR Industrial Air subsequent to the date it was acquired by the Company for the three and nine months ended August 30, 2014 (which, in the case of the nine-month period ended August 30, 2014, includes the period from December 16, 2013 to August 30, 2014) were as follows:



	Three Months Ended		Nine Months Ended
	August 30, 2014		August 30, 2014
Net sales	$	59,842	$	172,205
Operating profit	5,038		8,810

Bekaert [Member]

Business Acquisition [Line Items]

Schedule of results of acquiree

Net sales and operating loss for the Bekaert business subsequent to the date it was acquired by the Company for the three and nine months ended August 30, 2014 were as follows:



	Three Months Ended			Nine Months Ended
	August 30, 2014			August 30, 2014
Net sales	$	2,809		$	9,111
Operating loss	(125		)	(679		)