XML 41 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2020
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition [Table Text Block]
The following presents the preliminary allocation of purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at their acquisition dates:
Total
Current assets, net of cash acquired$25,699  
Property, plant and equipment3,783  
Goodwill145,337  
Intangible assets97,244  
Current liabilities(18,380) 
Other liabilities(14,844) 
Net assets acquired$238,839  
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
The amounts assigned to goodwill and major intangible asset classifications were as follows:
Amount allocatedUseful life
(in years)
Goodwill - tax deductible$33,159  na
Goodwill - non deductible112,178  na
Customer intangibles79,295  12
Trademarks6,171  15
Other intangibles11,778  6-9
$242,581  
Pro forma results of operations
The following unaudited pro forma information illustrates the impact of 2020 and 2019 acquisitions on the Company’s revenue and earnings from operations for the three and six months ended June 30, 2020 and 2019, respectively.
The unaudited pro forma information assumes that the 2020 and 2019 acquisitions had taken place at the beginning of the prior year, 2019 and 2018, respectively. Unaudited pro forma earnings are adjusted to reflect the comparable impact of additional depreciation and amortization expense, net of tax, resulting from the fair value measurement of intangible and tangible assets relating to the year of acquisition.

The unaudited pro forma effects for the three and six months ended June 30, 2020 and 2019 were as follows:
 Three Months Ended June 30,Six Months Ended June 30,
 2020201920202019
Revenue:  
As reported$1,499,175  $1,810,706  $3,155,114  $3,535,463  
Pro forma1,502,018  1,828,174  3,165,053  3,575,903  
Net earnings:
As reported$124,766  $198,085  $301,045  $303,790  
Pro forma128,377  198,659  308,844  304,881