XML 57 R37.htm IDEA: XBRL DOCUMENT v2.3.0.15
Business Combination (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended9 Months Ended3 Months Ended9 Months Ended1 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Dec. 31, 2010
Sep. 30, 2011
Sanuk.
Sep. 30, 2010
Sanuk.
Sep. 30, 2011
Sanuk.
Y
Sep. 30, 2010
Sanuk.
Jul. 02, 2011
Sanuk.
Jul. 31, 2011
Sanuk.
Contingent consideration performance criteria
Y
Jul. 31, 2011
Sanuk.
EBITDA performance criteria
multiplier
Jul. 31, 2011
Sanuk.
Gross profit performance criteria
multiplier
Sep. 30, 2011
Sanuk.
US tradenames
Sep. 30, 2011
Sanuk.
International tradenames
Sep. 30, 2011
Sanuk.
Customer relationships
Y
Sep. 30, 2011
Sanuk.
International distributor relationships
Y
Sep. 30, 2011
Sanuk.
US non-compete agreements
Sep. 30, 2011
Sanuk.
International non-compete agreements
Sep. 30, 2011
Sanuk.
Patents
Y
Sep. 30, 2011
Sanuk.
US backlog
Sep. 30, 2011
Sanuk.
International backlog
Sep. 30, 2011
Sanuk.
Backlog
Y
Sep. 30, 2011
Sanuk.
Tradenames
Y
Sep. 30, 2011
Sanuk.
Non-compete agreements
Y
Business combinations                         
Initial cash paid         $ 119,800               
Working capital adjustments paid at closing         6,800               
Contingent consideration disclosures                         
Performance evaluation period (in years)          5              
Multiplier applied to performance criteria in 2011 (EBITDA) or 2015 (Gross profit)           105            
Maximum additional participation payment, 2011           30,000             
Contingent consideration performance percentage applied to gross profit in 2012 (as a percent)            51.80%            
Contingent consideration performance percentage applied to gross profit in 2013 (as a percent)            36.00%            
Contingent consideration performance percentage applied to gross profit in 2015 (as a percent)            8.00%            
Revenue since acquisition date       15,578                 
Operating income (loss) since acquisition date       (307)                 
Income (loss) from operations90,66166,314108,058108,351   1,459                 
Amortization expense       2,990                 
Accretion expense       1,389                 
Transaction costs     4,000 4,000                 
Contingent consideration, discount rate to determine fair value (as a percent)       5.00%                 
Contingent consideration, discount rate to be used after 2011 to determine fair value (as a percent)       7.00%                 
Discount rate             15.00%17.00%15.50%17.50%15.50%17.50%16.50%14.00%16.00%   
Royalty rate             5.00%5.00%    3.00%     
Estimated fair value of assets aquired and liabilities assumed                         
Cash paid     126,615 126,615                 
Estimated working capital adjustments     (4,091) (4,091)                 
Contingent consideration arrangement     84,300 84,300                 
Recognized amounts of identifiable assets acquired and liabilities assumed:                         
Trade accounts receivable, net of allowances     12,809 12,809                 
Allowances     1,130 1,130                 
Inventories     7,545 7,545                 
Other current assets     367 367                 
Trade accounts payable     (5,590) (5,590)                 
Other liabilities     (507) (507)                 
Net tangible assets acquired     14,624 14,624                 
Maximum measurement period of contingent consideration payments included in the purchase price (in years)       5                 
Identifiable intangible assets:                         
Identifiable intangible assets:               21,300800  6,600  1,83047,2005,300
Goodwill115,271 115,271 6,507109,170 109,170                 
Total purchase price     206,824 206,824                 
Estimated Useful Life (Years)               102  14  1205
Pro forma results                         
Revenue     414,358288,644815,706609,005                
Operating income     95,02165,994120,066106,882                
Deferred Purchase Factoring Agreement                         
Open accounts receivable sold held by CIT Commercial Services     6,100 6,100                 
Collection fees     $ 69 $ 69