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Acquisitions (Tables)
9 Months Ended
Sep. 30, 2018
Business Combinations [Abstract]  
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 Boat Holdings net assets acquired and the determination of net assets (in thousands):
Cash and cash equivalents
$
16,534

Trade receivables
17,602

Inventory
39,990

Other current assets
3,938

Property, plant and equipment
36,769

Customer relationships
341,080

Trademarks / trade names
210,680

Non-compete agreements
2,630

Goodwill
207,126

Accounts payable
(30,017
)
Other liabilities assumed
(23,140
)
Total fair value of net assets acquired
823,192

Less cash acquired
(16,534
)
Total consideration for acquisition, less cash acquired
$
806,658

Unaudited pro forma information
The following unaudited pro forma information represents the Company’s results of operations as if the fiscal 2018 acquisition of Boat Holdings had occurred at the beginning of fiscal 2017 (in thousands, except per share data).
 
Three months ended September 30,
 
Nine months ended September 30,
 
2018
 
2017
 
2018
 
2017
Net sales
$
1,651,415

 
$
1,593,659

 
$
4,802,580

 
$
4,410,691

Net income
99,224

 
81,473

 
268,660

 
149,517

 
 
 
 
 
 
 
 
Basic earnings per share
$
1.60

 
$
1.30

 
$
4.27

 
$
2.38

Diluted earnings per common share
$
1.56

 
$
1.28

 
$
4.16

 
$
2.34