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Business Combinations (Tables)
12 Months Ended
Dec. 31, 2012
Business Combination  
Schedule of identifiable intangible assets and their corresponding discount and royalty rates

 

 

Identifiable intangible asset
  Method   Discount Rate   Royalty Rate  

US trademarks

  Relief from royalty     15.0 %   5.0 %

International trademarks

  Relief from royalty     17.0 %   5.0 %

Customer relationships

  Excess earnings     15.5 %      

International distributor relationships

  Lost profits     17.5 %      

US non-compete agreements

  Lost profits     15.5 %      

International non-compete agreements

  Lost profits     17.5 %      

Patents

  Relief from royalty     16.5 %   3.0 %

US backlog

  Excess earnings     14.0 %      

International backlog

  Excess earnings     16.0 %      
Schedule of estimates of fair value of intangible assets acquired and goodwill resulting from acquisition

 

 

 
  Estimated
Fair Value
  Estimated
Useful
Life (Years)

Consideration

         

Cash paid

  $ 125,203    

Receivable from sellers

    (1,659 )  

Contingent consideration arrangement

    88,100    
         

Total consideration transferred

  $ 211,644    
         

Recognized amounts of identifiable assets acquired and liabilities assumed:

         

Trade accounts receivable, net of allowances of $1,130

  $ 12,809    

Inventories

    7,545    

Other assets

    367    

Trade accounts payable

    (5,544 )  

Other liabilities

    (507 )  
         

Net tangible assets acquired

    14,670    

Identifiable intangible assets:

         

Trademarks

    47,200   20

Customer relationships

    21,300   8

International distributor relationships

    800   2

Non-compete agreements

    5,300   5

Patents

    6,600   14

Backlog

    1,830   1

Goodwill

    113,944   Non-amortizable
         

Total purchase price

  $ 211,644    
         
Schedule of reconciliation of preliminary purchase price allocation to final purchase price allocation

 

 

 
  As of
Acquisition
  Adjustments   As of
December 31,
2011
 

Consideration

                   

Cash paid

  $ 122,524   $ 2,679   $ 125,203  

Receivable from sellers

        (1,659 )   (1,659 )

Contingent consideration arrangement

    84,300     3,800     88,100  
                   

 

        $ 4,820        
                   

Trade accounts payable

  $ (5,590 ) $ 46   $ (5,544 )

Goodwill

    109,170     4,774     113,944  
                   

 

        $ 4,820        
                   
Schedule of pro forma information

 

 

 
  December 31,  
 
  2011   2010  

Net sales

  $ 1,419,557   $ 1,049,389  

Income from operations

  $ 297,835   $ 246,130