Acquisitions of and Investments in Businesses and Technologies (Tables)

12 Months Ended

Jan. 31, 2020

Schedule of Business Acquisitions, by Acquisition

The aggregate purchase price for these acquisitions was allocated to the estimated fair value of assets acquired and liabilities assumed as follows:


Cash and cash equivalents	$	833
Accounts receivable, net	5
Inventory	963
Other current assets	279
Property, plant and equipment, net	376
Goodwill	56,022
Intangible assets, net	31,800
Other long-term assets	1,394
Deferred income taxes	(4,158)
Accounts payable and other current liabilities	(1,462)
Debt, including lease liabilities for operating leases	(7,587)
Fair value of consideration transferred, including noncontrolling interest	78,465

Less: redeemable noncontrolling interest	24,315
Fair value of purchase price consideration transferred, excluding noncontrolling interest	$	54,150

Business Acquisition, Pro Forma Information

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 fiscal 2019 (unaudited):


(Unaudited)
	For the years ended January 31,
	2020		2019
Net sales	$	383,418	$	406,886
Net income attributable to Raven Industries, Inc.	$	29,685	$	48,210

Earnings per common share
Basic	$	0.82	$	1.34
Diluted	$	0.82	$	1.32

Schedule of Changes in Fair Value of Liability for Consideration

Changes in the fair value of the liability for acquisition-related contingent consideration are as follows:


	For the years ended January 31,
	2020		2019
Beginning balance	$	4,172	$	3,046
Fair value of contingent consideration acquired	310		1,742
Change in fair value of the liability	412		708
Contingent consideration earn-out paid	(1,960)		(1,324)
Ending balance	$	2,934	$	4,172

Classification of liability in the Consolidated Balance Sheets
Accrued Liabilities	$	763	$	1,796
Other Liabilities, long-term	2,171		2,376
Ending balance	$	2,934	$	4,172