Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

The Company acquired these businesses in six separate transactions for net cash consideration of $365,550. The following presents the allocation of acquisition cost to the assets acquired and liabilities assumed, based on their estimated fair values:



Current assets, net of cash acquired	$	72,619
Property, plant and equipment	6,610
Goodwill	205,656
Intangible assets	166,685
Current liabilities	(34,103		)
Non-current liabilities	(51,917		)
Net assets acquired	$	365,550

Schedule of acquired intangible assets

The amounts assigned to goodwill and major intangible asset classifications for the 2014 acquisitions are as follows:



	Amount allocated		Useful life (in years)
Goodwill - Tax deductible	$	12,042	na
Goodwill - Non deductible	193,614		na
Customer intangibles	134,116		13
Trademarks	14,087		12
Technology	3,267		10
Other intangibles	15,215		7
	$	372,341

Pro forma results of operations

The following unaudited pro forma information illustrates the effect on the Company’s revenue and earnings from continuing operations for the three and nine months ended September 30, 2014 and 2013, assuming that the 2014 and 2013 acquisitions had taken place at the beginning of the prior year. As a result, the supplemental pro forma earnings for the three and nine months ended September 30, 2014 reflect adjustments to earnings from continuing operations as reported in the Unaudited Condensed Consolidated Statements of Earnings to exclude $2,527 and $3,723 for nonrecurring expense related to the fair value adjustments to acquisition-date inventory (after-tax) and $874 and $2,432 of acquisition-related costs (after tax) and to reflect such items in 2013. The 2014 and 2013 supplemental pro forma earnings are also adjusted to reflect the comparable impact of additional depreciation and amortization expense (net of tax) resulting from the fair value measurement of tangible and intangible assets relating to 2014 and 2013 acquisitions.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Revenue from continuing operations:
As reported	$	2,092,467	$	1,940,211	$	6,024,852	$	5,636,599
Pro forma	2,103,041		2,017,881		6,093,575		5,887,229
Earnings from continuing operations:
As reported	$	232,825	$	226,235	$	626,592	$	651,506
Pro forma	237,010		230,382		638,159		654,180
Basic earnings per share from continuing operations:
As reported	$	1.40	$	1.33	$	3.74	$	3.79
Pro forma	1.43		1.35		3.81		3.81
Diluted earnings per share from continuing operations:
As reported	$	1.38	$	1.31	$	3.69	$	3.75
Pro forma	1.41		1.33		3.76		3.76