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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2012
Business Combinations [Abstract]  
Redeemable Noncontrolling Interest
 
 
Year ended December 31, 2012
 
 
(dollars in thousands)
Beginning balance, February 24, 2012
 
$
25,630

Distributions to noncontrolling interests
 
(1,260
)
Net income attributable to noncontrolling interests
 
2,410

Ending balance, December 31, 2012
 
$
26,780

Schedule of Purchase Price Allocation
 
 
February 24, 2012
 
 
(dollars in thousands)
Consideration
 
 
Initial cash paid net of working capital adjustment
 
$
59,200

Contingent consideration (a)
 
8,490

Total consideration
 
$
67,690

Recognized amounts of identifiable assets acquired and liabilities assumed
 
 
Receivables
 
$
8,760

Inventories
 
4,200

Intangible assets other than goodwill (b)
 
48,400

Other assets
 
2,450

Accounts payable and accrued liabilities
 
(4,270
)
Long-term liabilities
 
(1,610
)
Total identifiable net assets
 
57,930

Redeemable noncontrolling interest
 
(25,630
)
Goodwill (c)
 
35,390

 
 
$
67,690

__________________________
(a) The contingent consideration represented the Company's best estimate, based on its review, at the time of purchase, of the underlying potential obligations estimated at a range of $8 million to $9 million, of certain Seller tax-related liabilities for which the Company has indemnified the Sellers as part of the purchase agreement. During 2012, the Company paid $4.9 million of additional purchase price related to the contingent consideration. The remaining liability range of $3.1 million to $4.1 million continues to represent the Company's best estimate of the remaining potential obligation at December 31, 2012.
(b) Consists of $33.0 million of customer relationships with an estimated 10 year useful life, $7.9 million of trademarks/trade names with an indefinite useful life and $7.5 million of technology and other intangible assets with an estimated 8 year useful life.
(c)
Business Combination, Results Of Operations Of Acquiree Since Acquisition
The results of operations of Arminak are included in the Company's results beginning February 24, 2012. The actual amounts of net sales and net income of Arminak included in the accompanying consolidated statement of income are summarized as follows:
 
 
Year ended December 31, 2012
 
 
(dollars in thousands)
Net sales
 
$
65,860

Net income
 
$
8,030

Business Acquisition, Pro Forma Information
The following table summarizes the supplemental pro forma results of the combined entity as if the acquisition had occurred on January 1, 2011. The supplemental pro forma information presented below is for informational purposes and is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated on January 1, 2011:
 
 
Pro forma Combined (a)
 
 
Year ended December 31,
 
 
2012
 
2011
 
 
(dollars in thousands)
Net sales
 
$
1,280,940

 
$
1,144,020

Net income attributable to TriMas Corporation
 
$
35,850

 
$
54,540

___________________________
(a) The supplemental pro forma results reflect certain adjustments, such as adjustments for acquisition costs incurred and purchase accounting adjustments related to step-up in value and subsequent amortization of inventory and intangible assets.