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Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2017
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the fair values of identifiable assets acquired and liabilities assumed at the date of the acquisitions:

In thousands
 
Texel
 
Gutsche
Cash and cash equivalents
 
$
1,610

 
$
9,400

Accounts receivable
 
13,355

 
7,736

Inventories
 
17,525

 
6,417

Prepaid expenses and other current assets
 
2,469

 
1,125

Non-current environmental indemnification receivable (Note 14)
 
925

 
—

Property, plant and equipment, net
 
31,525

 
7,969

Investment in joint venture
 
616

 
—

Goodwill (Note 4)
 
28,655

 
19,759

Other intangible assets, net (Note 4)
 
22,887

 
15,622

Other long term assets
 
—

 
1,545

   Total assets acquired
 
$
119,567

 
$
69,573

 
 
 
 
 
Current liabilities
 
$
(8,520
)
 
$
(8,376
)
Long-term environmental remediation liability (Note 14)
 
(925
)
 
—

Deferred tax liabilities
 
(7,413
)
 
(470
)
Other long-term liabilities
 
—

 
(2,742
)
   Total liabilities assumed
 
(16,858
)
 
(11,588
)
   Net assets acquired
 
$
102,709

 
$
57,985
Unaudited Pro Forma Operating Results
The following table reflects the actual operating results of the Company for the quarter and six months ended June 30, 2017 and the unaudited pro forma operating results of the Company for the quarter and six months ended June 30, 2016, which give effect to the acquisitions of Texel and Gutsche as if they had occurred on January 1, 2015. The pro forma information includes the historical financial results of the Company and the acquired businesses. The pro forma results are not necessarily indicative of the operating results that would have occurred had the acquisitions been effective January 1, 2015, nor are they intended to be indicative of results that may occur in the future. The pro forma information does not include the effects of any synergies related to the acquisitions.
 
 
Quarter Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
 
(Actual)
 
(Unaudited Pro Forma)
 
(Actual)
 
(Unaudited Pro Forma)
In thousands
 
2017
 
2016
 
2017
 
2016
Net sales
 
$
174,879

 
$
173,834

 
$
340,366

 
$
329,982

Net income
 
$
13,125

 
$
13,537

 
$
24,794

 
$
23,239


 

 

 
 
 
 
Earnings per share:
 

 

 
 
 
 
  Basic
 
$
0.77

 
$
0.80

 
$
1.46

 
$
1.38

  Diluted
 
$
0.76

 
$
0.79

 
$
1.44

 
$
1.36