Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Business Acquisition [Line Items]

Schedule of Purchase Price Allocation

The following table summarizes the fair value of consideration paid for Allfast, and the assets acquired and liabilities assumed (dollars in thousands):

	October 17, 2014
Consideration
Cash paid, net of cash acquired	$	351,220
Deferred purchase price(a)	15,730
Total consideration	$	366,950
Recognized amounts of identifiable assets acquired and liabilities assumed
Receivables	$	8,950
Inventories	19,850
Intangible assets other than goodwill(b)	165,000
Prepaid expenses and other assets	340
Property and equipment, net	26,490
Accounts payable and accrued liabilities	(2,620		)
Total identifiable net assets	218,010
Goodwill(c)	148,940
	$	366,950

___________________________

^(a) Of the deferred purchase price, approximately $8.7 million, represented the Company's best estimate of the underlying obligations for certain tax amounts the Company agreed to reimburse the previous owner in order to acquire additional tax attributes. During 2015, the Company paid $5.2 million of such amount and the remaining $3.5 million liability was removed, with a corresponding reduction to goodwill, due to the finalization of the Seller's tax liability. In addition, deferred purchase price included approximately $7.0 million of other liabilities, which the Company agreed to pay on behalf of the previous owner, all of which was paid out as of December 31, 2016.

^(b) Consisted of approximately $83.0 million of customer relationships with an estimated useful life of 18 years, $33.0 million of technology and other intangible assets with an estimated useful life of 15 years and $49.0 million of trademark/trade name with an indefinite useful life.

^(c) All of the goodwill was assigned to the Company's Aerospace reportable segment and was expected to be deductible for tax purposes.

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, 2013. 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, 2013 (dollars in thousands):

	Pro forma Combined (a)
	Year ended December 31,
	2014		2013
Net sales	$	936,440	$	853,590
Net income attributable to TriMas Corporation	$	49,590	$	56,550

___________________________

^(a) The supplemental pro forma results reflect certain material adjustments, as follows:

1. Pre-tax pro forma adjustments for amortization expense of $6.0 million and $6.8 million for the years ended December 31, 2014 and December 31, 2013 on the intangible assets associated with the acquisition.

2. Pre-tax pro forma adjustments of $4.9 million and $7.1 million for the years ended December 31, 2014 and December 31, 2013, respectively, to reflect interest expense incurred on the incremental term loan A and revolver borrowings incurred in order to fund the acquisition.

Redeemable Noncontrolling Interest

As part of purchasing the remaining membership interest, the Company finalized the calculation of the redeemable noncontrolling interest as of March 11, 2014. Changes in the carrying amount of redeemable noncontrolling interest are summarized as follows (dollars in thousands):

	Redeemable Noncontrolling interest
Balance, December 31, 2013	$	29,480
Distributions to noncontrolling interests	(580		)
Net income attributable to noncontrolling interests	810
Balance, March 11, 2014	$	29,710