Acquisitions of and Investments in Businesses and Technologies (Tables)

12 Months Ended

Jan. 31, 2015

Total purchase price allocated to the estimated fair values of assets acquired and liabilities assumed

The total purchase price was allocated to the estimated fair values of assets acquired and liabilities assumed as follows:



Cash	$	1,600
Accounts receivable	4,808
Inventory	7,555
Deferred income taxes	520
Other current assets	24
Property, plant and equipment, net	17,088
Goodwill	27,216
Customer relationships and other definite-lived intangibles	10,200
Short-term and long-term debt	(11,341		)
Current liabilities	(4,084		)
Other liabilities	(5,344		)
Total purchase price	$	48,242

Pro forma consolidated condensed financial results of operations

The following pro forma consolidated condensed financial results of operations are presented as if the acquisitions described above had been completed at the beginning of the period presented (unaudited):



	(Unaudited)
	For the year ended January 31,
	2015		2014
Net sales	$	408,906	$	431,917
Net income attributable to Raven Industries, Inc.	34,424		45,747

Earnings per common share:
Basic	$	0.90	$	1.20
Diluted	$	0.90	$	1.20

These unaudited pro forma consolidated financial results have been prepared for comparative purposes only and include certain adjustments, such as amortization and acquisition cost. The pro forma information does not purport to be indicative of the results of operations that actually would have resulted had these business combinations occurred at the beginning of each period presented, or of future results of the consolidated entities.

Changes in the net carrying value of the investment in SST

Changes in the net carrying value of the investment in SST were as follows:



	As of January 31,
	2015			2014			2013
Balance at beginning of year	$	3,684		$	4,063		$	4,409
Income from equity investment	28			116			156
Amortization of intangible assets	(495		)	(495		)	(477		)
Dividend received	—			—			(25		)
Balance at end of year	$	3,217		$	3,684		$	4,063