ACQUISITIONS (Tables)

9 Months Ended

Jun. 30, 2018

Business Acquisition, Pro Forma Information

The following unaudited proforma summary from continuing operations presents consolidated information as if the Company acquired ClosetMaid on October 1, 2016:

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The calculation of the preliminary purchase price allocation, which is pending finalization of tax-related items and completion of the related final valuation, is as follows:




Accounts receivable ⁽¹⁾	$	30,400
Inventories	12,586
Property, plant and equipment	35,226
Goodwill ⁽²⁾	81,634
Intangible assets ⁽²⁾	36,000
Other current and non-current assets	2,541
Total assets acquired	198,387

Accounts payable and accrued liabilities	12,000
Long-term liabilities	680
Total liabilities assumed	12,680
Total	$	185,707

⁽¹⁾ Includes $30,818 of gross accounts receivable of which $418 was not expected to be collected. The fair value of accounts receivable approximated book value acquired.

⁽²⁾As of June 30, 2018, the Company did not recognize an estimate of identifiable indefinite lived intangible assets apart from goodwill but preliminarily allocated $36,000 to identifiable definite lived intangible assets and recognized amortization expense consistent with an estimated ten year life from the date of acquisition through June 30, 2018. The company expects to finalize the valuation of the acquired identifiable indefinite and definite lived intangible assets during the fourth quarter.

The calculation of the preliminary purchase price allocation, which is pending finalization of tax-related items and completion of the related final valuation, is as follows:




Accounts receivable ⁽¹⁾	$	32,234
Inventories ⁽²⁾	28,411
Property, plant and equipment	48,072
Goodwill	69,551
Intangible assets	74,580
Other current and non-current assets	3,852
Total assets acquired	256,700

Accounts payable and accrued liabilities	68,251
Long-term liabilities	2,720
Total liabilities assumed	70,971
Total	$	185,729

Schedule of Goodwill And Intangible Assets Acquired as Part of Business Combination

The amounts assigned to goodwill and major intangible asset classifications, all of which are tax deductible, for the ClosetMaid acquisition are as follows:



			Average Life (Years)
Goodwill	$	69,551	N/A
Indefinite-lived intangibles	47,740		N/A
Definite-lived intangibles	26,840		21
Total goodwill and intangible assets	$	144,131

Proforma
For the three months ended June 30, 2017
(unaudited)

Proforma
For the nine months ended June 30, 2017
(unaudited)

Income from continuing operations