Acquisitions (Tables)

3 Months Ended

Apr. 04, 2015

Components Of Intangible Assets Included As Part Of The PTS Acquisition

The components of Intangible Assets included as part of the PTS acquisition was as follows (in millions):



	Weighted Average Amortization Period (Years)	Gross Value
Amortizable intangible assets
Customer Relationships	17.0	$	484.7
Technology	14.5	63.6
	16.7	548.3
Non-amortizable intangible assets
Trademarks	-	121.9
Intangible assets		$	670.2

Power Transmission Solutions

Business Acquisition [Line Items]

Schedule Of Purchase Price Allocation

The preliminary purchase price allocation for PTS was as follows (in millions):



	As of January 30, 2015
Current assets	$	10.2
Trade receivables	71.3
Inventories	108.5
Property, plant and equipment	188.6
Intangible assets	670.2
Goodwill	561.8
Total assets acquired	$	1,610.6
Accounts payable	53.9
Current liabilities assumed	22.7
Long-term liabilities assumed	126.0
Net assets acquired	$	1,408.0

Pro Forma Financial Information

The following supplemental pro forma financial information presents the financial results for the three months ended April 4, 2015 and March 29, 2014, as if the acquisition of PTS had occurred at the beginning of fiscal year 2014. As a practical expedient, the Company has used the audited stand-alone financial statements of PTS for the period ending September 30, 2014 to estimate pro-forma results for the three months ended March 29, 2014. The pro forma financial information includes, where applicable, adjustments for: (i) the estimated amortization of acquired intangible assets, (ii) estimated additional interest expense on acquisition related borrowings, (iii) the income tax effect on the pro forma adjustments using an estimated effective tax rate. The pro forma financial information excludes, where applicable, adjustments for: (i) the estimated impact of inventory purchase accounting adjustments and (ii) the estimated closing costs on the acquisition. The pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been achieved had the acquisition been completed as of the date indicated or the results that may be obtained in the future (in millions, except per share amounts):



	Three Months Ended
	April 4, 2015		March 29, 2014
Pro forma net sales	$	960.3	$	953.0
Pro forma net income	38.1		52.8

Basic earnings per share as reported	$	0.81	$	0.97
Pro forma basic earnings per share	0.85		1.17

Diluted earnings per share as reported	$	0.81	$	0.96
Pro forma diluted earnings per share	0.85		1.16

Benshaw and Hy-Bon

Business Acquisition [Line Items]

Pro Forma Financial Information

The following supplemental pro forma information presents the financial results for the three months ended March 29, 2014, as if the acquisitions of Benshaw and Hy-Bon had occurred at the beginning of fiscal year 2014. Based upon the timing of the Company's fiscal 2014 acquisitions, financial results for the three months ended April 4, 2015 included the financial results of the acquisitions of Benshaw and Hy-Bon.

The pro forma amounts do not include any estimated cost synergies or other effects of the integration of the acquisitions. Accordingly, the pro forma amounts are not necessarily indicative of the results that actually would have occurred had the acquisitions been completed on the dates indicated. Pro forma amounts are also not necessarily indicative of any future consolidated operating results of the Company (see Note 5 of Notes to the Condensed Consolidated Financial Statements for amortization expense related to intangible assets acquired) (in millions, except per share amounts).



	Three Months Ended
	March 29, 2014
Pro forma net sales	$	820.9
Pro forma net income	43.5

Basic earnings per share as reported	$	0.97
Pro forma basic earnings per share	0.97

Diluted earnings per share as reported	$	0.96
Pro forma diluted earnings per share	0.96

Benshaw

Business Acquisition [Line Items]

Schedule Of Purchase Price Allocation

The purchase price allocation for Benshaw was as follows (in millions):



	As of June 30, 2014
Current assets	$	0.5
Trade receivables	10.4
Inventories	22.4
Property, plant and equipment	4.5
Intangible assets, subject to amortization	14.6
Goodwill	9.9
Total assets acquired	62.3
Accounts payable	3.7
Current liabilities assumed	2.2
Long-term liabilities assumed	5.4
Net assets acquired	$	51.0

Hy-Bon

Business Acquisition [Line Items]

Schedule Of Purchase Price Allocation

The purchase price allocation for Hy-Bon was as follows (in millions):



	As of February 7, 2014
Current assets	$	1.7
Trade receivables	11.5
Inventories	14.3
Property, plant and equipment	8.1
Intangible assets, subject to amortization	13.4
Goodwill	40.6
Other assets	0.1
Total assets acquired	89.7
Accounts payable	5.5
Current liabilities assumed	5.1
Long-term liabilities assumed	1.1
Net assets acquired	$	78.0