ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The final purchase price assigned to the major identifiable assets and liabilities for the Headwater acquisitions on an aggregated basis is as follows:



(In millions)
Cash	$	2.7
Receivables	29.9
Inventory	56.0
Other current assets	5.1
Total current assets	93.7
Property, plant, and equipment	9.8
Intangible assets	5.7
Goodwill	33.9
Other assets	0.2
Total assets	143.3
Accounts payable	(19.6		)
Accrued liabilities and other current liabilities	(11.4		)
Current maturities of long-term debt	(31.6		)
Total current liabilities	(62.6		)
Long-term debt	(2.0		)
Other long-term liabilities	(0.7		)
Total liabilities	(65.3		)
Total	78.0
Less: Fair value of original equity interest	(20.6		)
Total purchase price	$	57.4

Business Acquisition, Pro Forma Information

The unaudited proforma condensed consolidated financial statements do not give effect to any cost savings or incremental costs that may result from the integration of the Headwater acquisitions with the Company.



FRANKLIN ELECTRIC CO., INC.
PROFORMA CONDENSED CONSOLIDATED STATEMENTS OF INCOME

	Second Quarter Ended				Six Months Ended
(in millions, except per share amounts)	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017

Revenue:
As reported	$	344.0	$	305.3	$	639.6	$	525.6
Proforma	344.0		315.2		639.6		585.5
Net income:
As reported	$	30.5	$	29.9	$	51.7	$	45.6
Proforma	30.5		30.3		51.7		46.9
Basic earnings per share:
As reported	$	0.65	$	0.64	$	1.10	$	0.97
Proforma	0.65		0.65		1.10		1.00
Diluted earnings per share:
As reported	$	0.64	$	0.64	$	1.09	$	0.97
Proforma	0.64		0.64		1.09		0.99