Business Combinations (Tables)

12 Months Ended

Aug. 31, 2011

Business Acquisition, Pro Forma Information [Table Text Block]

The following unaudited pro forma summary presents the effect on the consolidated financial results of the Company of the businesses acquired during the year ended August 31, 2009 as though the businesses had been acquired as of the beginning of fiscal 2008 (in thousands):



	2009			2008
Revenues	$	1,794,139		$	3,597,062
Operating income (loss)	$	(54,276	)	$	429,792
Net income (loss)	$	(34,225	)	$	277,041
Net income (loss) attributable to SSI	$	(35,091	)	$	271,684

The following unaudited pro forma summary presents the effect on the consolidated financial results of the Company of the businesses acquired during the year ended August 31, 2011 as though the businesses had been acquired as of the beginning of fiscal 2010 (in thousands):



	2011		2010
Revenues	$	3,539,677	$	2,466,547
Operating income⁽¹⁾	$	204,613	$	149,328
Net income⁽¹⁾	$	134,921	$	82,481
Net income attributable to SSI⁽¹⁾	$	127,954	$	78,106

_____________________________


(1)	Excludes nonrecurring executive compensation paid to the management of acquired companies that will not be incurred in the future.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following is a summary of the aggregate fair values of assets acquired and liabilities assumed for acquisitions completed during the years ended August 31 (in thousands):



Assets:	2011			2009
Cash and cash equivalents	$	285		$	336
Accounts receivable	5,490			935
Inventories	21,988			5,185
Prepaid expenses and other current assets	777			934
Deferred tax assets	830			456
Property, plant and equipment	59,065			23,466
Intangible assets	7,182			8,974
Other assets	16			2,065
Goodwill	245,894			60,853
Liabilities:
Short-term liabilities	(22,291		)	(1,097		)
Environmental liabilities	(1,069		)	(2,290		)
Long-term debt and capital lease obligations	(1,224		)	(1,837		)
Deferred tax liability - long-term	(2,467		)	(1,487		)
Net assets acquired⁽¹⁾	$	314,476		$	96,493

_____________________________


(1)	The acquisitions completed in fiscal 2010 were not material, individually or in the aggregate, to the Company’s financial position or results of operations.

Schedule Of Intangible Assets Acquired As Part Of Business Combination [Table Text Block]

The following table presents the fair value of intangible assets acquired with the acquisitions completed during the year ended August 31, 2011 (dollars in thousands):



	Weighted Average Life In Years	Gross Carrying Amount
Covenants not to compete	4.8	$	6,062
Other intangible assets subject to amortization⁽¹⁾	1.5	863
Indefinite-lived intangible assets⁽²⁾	Indefinite	257
Total	4.4	$	7,182

_____________________________


(1)	Other intangible assets subject to amortization include supply contracts, permits and licenses and leasehold interests.


(2)	Indefinite-lived intangible assets include tradenames and real property options.

The following table presents the intangible assets associated with the acquisitions completed during the year ended August 31, 2009 (dollars in thousands):



	Weighted Average Life In Years	Gross Carrying Amount
Covenants not to compete	18.0	$	5,646
Other intangible assets subject to amortization⁽¹⁾	4.5	3,328
Total	13.0	$	8,974

_____________________________


(1)	Other intangible assets subject to amortization include tradenames, employment agreements, permits and licenses and supply contracts.

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References+ Details