Correction of Immaterial Errors To Prior Period Financial Statements (Tables)

9 Months Ended

Mar. 31, 2017

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)



	Three Months Ended March 31, 2016
	As Reported			Adjustment			As Revised
Net sales	$	749,862		$	(13,199	)	$	736,663
Cost of sales	576,653			102			576,755
Gross profit	173,209			(13,301		)	159,908
Selling, general and administrative expenses	93,915			(15,025		)	78,890
Amortization of acquired intangibles	4,586			(33		)	4,553
Acquisition related expenses, restructuring and integration charges and other	5,701			(384		)	5,317
Operating income	69,007			2,141			71,148
Interest and other financing expense, net	6,920			—			6,920
Other (income)/expense, net	378			—			378
Gain on fire insurance recovery	(9,013		)				(9,013		)
Income before income taxes and equity in earnings of equity- method investees	70,722			2,141			72,863
Provision for income taxes	21,576			2,338			23,914
Equity in net income of equity-method investees	161			—			161
Net income	$	48,985		$	(197	)	$	48,788

Net income per common share:
Basic	$	0.47		$	—		$	0.47
Diluted	$	0.47		$	—		$	0.47

Weighted average common shares outstanding:
Basic	103,265			103,265			103,265
Diluted	104,087			104,087			104,087

* Net income per common share may not add in certain periods due to rounding

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (CONTINUED)



	Nine Months Ended March 31, 2016
	As Reported			Adjustment			As Revised
Net sales	$	2,189,639		$	(41,812	)	$	2,147,827
Cost of sales	1,686,820			(3,043		)	1,683,777
Gross profit	502,819			(38,769		)	464,050
Selling, general and administrative expenses	262,776			(39,355		)	223,421
Amortization/impairment of acquired intangibles	13,994			(98		)	13,896
Acquisition related expenses, restructuring and integration charges and other	11,852			(617		)	11,235
Operating income	214,197			1,301			215,498
Interest and other financing expense, net	19,760			(73		)	19,687
Other (income)/expense, net	8,771			73			8,844
Gain on fire insurance recovery	(9,013		)	—			(9,013		)
Income before income taxes and equity in earnings of equity- method investees	194,679			1,301			195,980
Provision for income taxes	57,337			2,509			59,846
Equity in net income of equity-method investees	108			—			108
Net income	137,234			(1,208		)	136,026

Net income per common share:
Basic	$	1.33		$	(0.01	)	$	1.32
Diluted	$	1.32		$	(0.01	)	$	1.31

Weighted average common shares outstanding:
Basic	103,030			103,030			103,030
Diluted	104,168			104,168			104,168

* Net income per common share may not add in certain periods due to rounding

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)



	Three Months Ended March 31, 2016									Nine Months Ended March 31, 2016
	As Reported			Adjustment			As Revised			As Reported			Adjustment			As Revised

Net income	$	48,985		$	(197	)	$	48,788		$	137,234		$	(1,208	)	$	136,026

Other comprehensive income (loss):
Foreign currency translation adjustments	$	(20,296	)	$	193		(20,103		)	$	(86,380	)	690			(85,690		)
Change in deferred gains (losses) on cash flow hedging instruments	(1,209		)	—			(1,209		)	(164		)	—			(164		)
Change in unrealized gain (loss) on available for sale investment	20			—			20			(112		)	—			(112		)
Total other comprehensive income (loss)	$	(21,485	)	$	193		$	(21,292	)	$	(86,656	)	$	690		$	(85,966	)

Total comprehensive income	$	27,500		$	(4	)	$	27,496		$	50,578		$	(518	)	$	50,060

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)



	Nine Months Ended March 31, 2016
	As Reported			Adjustment			As Revised
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	137,234		$	(1,208	)	$	136,026
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	47,494			605			48,099
Deferred income taxes	(9,377		)	(155		)	(9,532		)
Equity in net income of equity-method investees	108			—			108
Stock-based compensation	10,005			—			10,005
Contingent consideration expense	1,511			—			1,511
Gain on fire insurance recovery and other, net	(8,401		)	—			(8,401		)
Other non-cash items, including unrealized currency (gains)/loss, net	7,403			—			7,403
Increase (decrease) in cash attributable to changes in operating assets and liabilities, net of amounts applicable to acquisitions:
Accounts receivable	(29,201		)	(1,260		)	(30,461		)
Inventories	(11,397		)	621			(10,776		)
Other current assets	(650		)	22,691			22,041
Other assets and liabilities	1,111			—			1,111
Accounts payable and accrued expenses	(13,986		)	(21,294		)	(35,280		)
Net cash provided by operating activities	$	131,854		$	—		$	131,854

SEGMENT NET SALES AND OPERATING INCOME (UNAUDITED)

⁽¹⁾ The information previously reported for the three months ended March 31, 2016 has been adjusted to reflect the Company’s

new operating and reporting structure effective in the first quarter of fiscal 2017. See Note 1, Business, and Note 16, Segment

Information, for additional details surrounding the formation of Cultivate.

⁽¹⁾ The information previously reported for the nine months ended March 31, 2016 has been adjusted to reflect the Company’s

new operating and reporting structure effective in the first quarter of fiscal 2017. See Note 1, Business, and Note 16, Segment

Information, for additional details surrounding the formation of Cultivate.