Acquisitions

12 Months Ended

Jun. 29, 2013

Business Combinations [Abstract]

Acquisitions

Acquisitions

In the second quarter of fiscal year 2013, we completed an acquisition in our rental operations business. The results of the acquired business have been included in our Consolidated Financial Statements since the date of acquisition. The acquisition extends our rental operations footprint into five of the top 100 North American markets which we did not previously serve. The acquisition date fair value of the consideration transferred totaled $18,488, which consisted entirely of cash.

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed at the acquisition date.

Accounts receivable and inventory	$	2,206
Property, plant and equipment	3,291
Customer lists	2,250
Accrued expenses	(253		)
Goodwill	10,994
Net assets acquired	$	18,488

The $2,250 that was assigned to customer lists is subject to a weighted-average useful life of approximately 8 years. The $10,994 of goodwill has been assigned to the U.S. Rental operations reporting unit within the United States operating segment. The goodwill recognized is attributable primarily to expected synergies and the assembled workforce of the acquired business. All of the goodwill is expected to be deductible for income tax purposes.

The proforma effects of this acquisition, had it been acquired at the beginning of the fiscal year, was not material. The amount of revenue related to the acquired business that has been included in our Consolidated Statements of Operations for fiscal year 2013 was $5,831. The amount of earnings, after deducting integration costs and the related interest on the additional borrowings, was not material during the period.