Initial purchase price allocation and subsequent purchase price adjustments for acquisitions |
The initial purchase price allocation for acquisitions in 2017 and 2016 are as follows: | | | | | | | | | | | | 2017 |
| | 2016 |
| Assets: | | | | | Accounts receivable | | $ | 263,616 |
| | $ | 6,793 |
| Inventories | | 302,422 |
| | 12,041 |
| Prepaid expenses | | 18,342 |
| | 1,350 |
| Deferred income taxes | | 4,658 |
| | — |
| Plant and equipment | | 376,826 |
| | 5,647 |
| Intangible and other assets | | 1,526,909 |
| | 26,849 |
| Goodwill | | 2,677,489 |
| | 31,134 |
| | | 5,170,262 |
| | 83,814 |
| Liabilities: | | | | | Notes payable | | 20,162 |
| | 720 |
| Accounts payable, trade | | 84,753 |
| | 2,536 |
| Accrued payrolls and other compensation | | 45,942 |
| | 1,310 |
| Accrued domestic and foreign taxes | | 5,435 |
| | 604 |
| Other accrued liabilities | | 80,515 |
| | 1,804 |
| Long-term debt | | 296,240 |
| | 1,743 |
| Pensions and other postretirement benefits | | 33,929 |
| | — |
| Deferred income taxes | | 520,389 |
| | 7,545 |
| Other liabilities | | 11,878 |
| | — |
| Noncontrolling interests | | 1,822 |
| | — |
| | | 1,101,065 |
| | 16,262 |
| Net assets acquired | | $ | 4,069,197 |
| | $ | 67,552 |
|
|
Business acquisition, pro forma information |
The following unaudited pro forma information gives effect to the Company's acquisition of Clarcor as if the acquisition had occurred on July 1, 2015, and Clarcor had been included in the Company's results of operations for 2017 and 2016.
| | | | | | | | | | 2017 |
| | 2016 |
| Net sales | $ | 12,935,834 |
| | $ | 12,772,097 |
| Net income attributable to common shareholders | 1,027,693 |
| | 748,634 |
| Diluted earnings per share | 7.58 |
| | 5.47 |
|
|