ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2020

Business Acquisition, Schedule of Consideration Transferred

The total preliminary estimated fair value of consideration transferred for the Merger consisted of the following:


	(In thousands)
Cash portion attributable to common stock outstanding	$	2,476,010
Cash portion attributable to options and restricted stock units outstanding	87,375
Fair value of cash consideration	2,563,385
Common stock consideration	313,512
Series A preferred stock consideration	573,786
Fair value of equity consideration	887,298
Extinguishment of Anixter obligations, including accrued and unpaid interest	1,248,403
Total purchase consideration	$	4,699,086
Supplemental cash flow disclosure related to acquisitions:
Cash paid for acquisition	$	3,811,788
Less: Cash acquired	(103,463)
Cash paid for acquisition, net of cash acquired	$	3,708,325

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table sets forth the preliminary allocation of the purchase consideration to the respective fair value of assets acquired and liabilities assumed for the acquisition of Anixter:



	(In thousands)
Assets
Cash and cash equivalents	$	103,463
Trade accounts receivable	1,309,894
Other accounts receivable	116,386
Inventories	1,424,768
Prepaid expenses and other current assets	53,462
Property, buildings and equipment	215,513
Operating lease assets	262,238
Intangible assets	1,832,700
Goodwill	1,367,981
Other assets	114,258
Total assets	$	6,800,663

Liabilities
Accounts payable	$	920,163
Accrued payroll and benefit costs	69,480
Short-term debt and current portion of long-term debt	13,225
Other current liabilities	221,574
Long-term debt	77,822
Operating lease liabilities	200,286
Deferred income taxes	392,165
Other noncurrent liabilities	206,862
Total liabilities	$	2,101,577

Fair value of net assets acquired, including goodwill and intangible assets	$	4,699,086

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table sets forth the preliminary identifiable intangible assets and their estimated weighted-average useful lives:


Identifiable Intangible Assets	Estimated Fair Value		Weighted-Average Estimated Useful Life in Years
	(In thousands)
Customer relationships	$	1,093,700	15
Trademarks	735,000		Indefinite
Non-compete agreements	4,000		1
Total identifiable intangible assets	$	1,832,700

Business Acquisition, Pro Forma Information


	Three Months Ended						Six Months Ended
(In thousands)	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Pro forma net sales	$	3,678,504	$	4,384,752	$	7,691,263	$	8,425,934
Pro forma net income attributable to common stockholders	29,421		71,180		47,410		97,898

Schedule of Business Acquisitions, by Acquisition

The following table sets forth the consideration paid for the acquisition of SLS:


	Six Months Ended
	June 30
	2019
	(In thousands)
Fair value of assets acquired	$	34,812
Fair value of liabilities assumed	7,070
Cash paid for acquisition	$	27,742