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ACQUISITIONS (Tables)
 6 Months Ended
Jun. 30, 2012
Purchase Price Allocation for Carrier Enterprise III

The table below presents the allocation of the total consideration to tangible and intangible assets acquired, liabilities assumed and the noncontrolling interest from the acquisition of our 60% controlling interest in Carrier Enterprise III based on the respective fair values as of April 27, 2012:

 

Cash

    $ 10   

Accounts receivable

      45,872   

Inventories

      55,024   

Other current assets

      481   

Property and equipment

      2,517   

Goodwill and intangible assets

      219,978   

Other assets

      978   

Accounts payable and accrued expenses

      (44,208 ) 

Noncontrolling interest

      (105,244 ) 
  

 

 

  

Total preliminary purchase price

    $ 175,408   
  

 

 

  
Schedule of Unaudited pro Forma Financial Information from Joint Venture

The unaudited pro forma financial information, combining our results of operations with the operations of Carrier Enterprise II and Carrier Enterprise III as if the joint ventures had been consummated on January 1, 2011, is as follows:

 

     Quarter Ended
June 30,		      Six Months Ended
June 30,		  
     2012      2011      2012      2011  

Revenues

    $ 1,036,245       $ 1,009,234       $ 1,740,222       $ 1,663,275   

Net income

      60,428         59,583         73,601         74,937   

Less: net income attributable to noncontrolling interest

      21,629         21,059         26,710         27,355   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income attributable to Watsco, Inc.

    $ 38,799       $ 38,524       $ 46,891       $ 47,582   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted earnings per share for Common and Class B common stock

    $ 1.13       $ 1.12       $ 1.36       $ 1.39