ACQUISITIONS

9 Months Ended

Sep. 28, 2013

Business Combinations [Abstract]

ACQUISITIONS

ACQUISITIONS

In an agreement dated August 9, 2012, the Company acquired all of the outstanding shares of Cerus Industrial Corporation ("Cerus").

Preliminary goodwill decreased by $0.1 million in the third quarter ended September 28, 2013, due to an escrow refund received by the Company. The final purchase price assigned to the major identifiable assets and liabilities for the Cerus acquisition is as follows:

(In millions)
Assets:
Current assets	$	3.8
Property, plant, and equipment	0.3
Intangible assets	17.3
Goodwill	5.4
Total assets	26.8
Liabilities	(2.4		)
Total purchase price	$	24.4

The fair values of the identifiable assets, property, plant, and equipment, and liabilities are final as of the third quarter ended September 28, 2013. The Company utilized management estimates and consultation with an independent third-party valuation firm to assist in the valuation.

The fair values of the identifiable intangible assets and property, plant, and equipment for the 2012 Pioneer Pump Holdings, Inc. ("PPH") acquisition were final as of the first quarter ended March 30, 2013. The Company utilized management estimates and consultation with an independent third-party valuation firm to assist in the valuation. No adjustments were required as a result of the final valuation to the preliminary amounts previously disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2012.

Transaction costs were expensed as incurred under the guidance of FASB ASC Topic 805, Business Combinations. Transaction costs included in the "Selling, general, and administrative expenses" line of the Company's condensed consolidated statement of income were$0.3 million for the nine months ended September 28, 2013 and September 29, 2012.