Acquisitions and Divestiture (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table presents the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed from the Company's acquisition of Interface. The final determination of the fair value of certain assets and liabilities will be completed within the one year measurement period as required by the FASB ASC Topic 805, “Business Combinations.” As the Company finalizes the fair value of assets acquired and liabilities assumed, additional purchase price adjustments may be recorded during the measurement period within one year of the acquisition date. Fair value estimates are based on a complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions. The judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company's results of operations. The finalization of the purchase accounting assessment may result in a change in the

valuation of assets acquired and liabilities assumed and may have a material impact on the Company's results of operations and financial position.



In thousands
Accounts receivable	$	25,182
Inventories	17,013
Prepaid expenses and other current assets	2,382
Property, plant and equipment	40,902
Goodwill (Note 5)	130,346
Other intangible assets (Note 5)	106,900
Other assets	308
Total assets acquired, net of cash acquired	$	323,033

Current liabilities	$	(11,319	)
Deferred tax liabilities	(24,678		)
Benefit plan liabilities (Note 12)	(19,002		)
Other long-term liabilities	(1,031		)
Total liabilities assumed	(56,030		)
Total purchase price, net of cash acquired	$	267,003

Schedule of Unaudited Pro Forma Operating Results

The following table reflects the unaudited actual results of the Company for the quarter and six months ended June 30, 2019 and the pro forma operating results of the Company for the quarter and six months ended June 30, 2018, which gives effect to the acquisition of Interface as if it had occurred on January 1, 2017. The pro forma information includes the historical financial results of the Company and Interface. The pro forma results are not necessarily indicative of the operating results that would have occurred had the acquisition been effective January 1, 2017, 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 acquisition.



	Quarter Ended June 30,					Six Months Ended June 30,
	(Actual)			(Pro Forma)		(Actual)			(Pro Forma)
In thousands	2019			2018		2019			2018
Net sales	$	220,811		$	226,404	$	438,836		$	457,481
Net (loss) income	$	(6,946	)	$	11,589	$	(3,056	)	$	22,518

Earnings per share:
Basic	$	(0.40	)	$	0.67	$	(0.18	)	$	1.31
Diluted	$	(0.40	)	$	0.67	$	(0.18	)	$	1.30

Basic	17,267			17,196		17,260			17,178
Diluted	17,267			17,335		17,260			17,334