Business Acquisitions and Investments (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Preliminary Fair Value of Total Consideration

The following table summarizes the preliminary fair value of the total consideration at October 26, 2017:

(in thousands)	Total Acquisition Date Fair Value
Cash consideration (net of $3.3 million cash received)	$	56,859
Contingent cash consideration		7,982
Seller liability assumed		896
Working capital adjustment		1,539
Total consideration assigned to net assets acquired	$	67,276

Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of October 26, 2017 (in thousands):

	October 26, 2017 (As initially reported)		Measurement period adjustments (Recorded in thirteen weeks ending March 31, 2018)			October 26, 2017 (As adjusted)
Current assets (net of $3.3 million cash received)	$	21,756	$	85		$	21,841
Property, plant and equipment		1,615		-			1,615
Intangible assets		20,440		-			20,440
Goodwill		35,624		(85	)		35,539
Total assets acquired		79,435		-			79,435
Current liabilities		5,691		-			5,691
Long-term liabilities		6,468		-			6,468
Total liabilities assumed		12,159		-			12,159
Net assets acquired	$	67,276	$	-		$	67,276

Schedule of Valuation of Intangible Assets Acquired and Related Amortization Periods

The valuation of the intangible assets acquired and related amortization periods are as follows:

(in thousands)	Valuation		Amortization Period (in years)
Customer relationships	$	14,840	8-12
Tradenames		5,600	15
Total	$	20,440

Schedule of Pro Forma Financial Information

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of the operations that actually would have been achieved had the acquisition been consummated as of that time:


(in thousands)	April 1, 2017
Net sales	$	229,773
Net income	$	29,208
Diluted earnings per share	$	0.85