Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Summary of preliminary fair values of net assets acquired and determination of final net assets

The following table summarizes the preliminary fair values assigned to the TAP net assets acquired and the determination of final net assets (in thousands):



Cash and cash equivalents	$	3,017
Trade receivables	18,212
Inventory	144,912
Property, plant and equipment	32,814
Customer relationships	87,500
Trademarks / trade names	175,500
Goodwill	264,333
Other assets	18,434
Deferred revenue	(7,944		)
Other liabilities assumed	(64,913		)
Total fair value of net assets acquired	671,865
Less cash acquired	(3,017		)
Total consideration for acquisition, less cash acquired	$	668,848

Unaudited pro forma information

The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2016 acquisition of TAP had occurred at the beginning of fiscal 2015 (in thousands, except per share data). These performance results may not be indicative of the actual results that would have occurred under the ownership and management of the Company.



	For the Years Ended December 31,
	2016		2015
Net sales	$	5,161,688	$	5,389,173
Net income	240,400		431,991
Basic earnings per share	$	3.74	$	6.54
Diluted earnings per common share	$	3.69	$	6.40