Business Combinations Assets Acquired (Tables)

12 Months Ended

Jun. 30, 2014

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

The following table summarizes the consideration transferred, assets acquired, and liabilities assumed in connection with the acquisition of Reliance based on their preliminary estimated fair values at the acquisition date, which are subject to adjustment:



	Reliance Acquisition
	2014
Accounts receivable	$	20,573
Inventories	22,932
Other current assets	6,731
Property	13,294
Identifiable intangible assets	73,211
Goodwill	79,074
Total assets acquired	215,815
Accounts payable and accrued liabilities	16,099
Deferred income taxes	19,906
Net assets acquired	$	179,810

Purchase price	$	188,477
Reconciliation of fair value transferred:
Cash acquired	(1,369		)
Working capital adjustments	(8,173		)
Debt assumed	875
Total Consideration	$	179,810

The following table summarizes the fair values of assets acquired and liabilities assumed for these acquisitions:



	2013
Accounts receivable	$	7,514
Inventories	23,723
Other current assets	217
Property	1,090
Identifiable Intangibles assets	19,814
Goodwill	24,324
Total assets acquired	76,682
Accounts payable and accrued liabilities	1,867
Other current liabilities	6,192
Net assets acquired	$	68,623

Purchase price	$	68,623

Business Acquisition, Pro Forma Information [Table Text Block]

The following unaudited pro forma consolidated results of operations have been prepared as if the acquisition occurred at the beginning of fiscal 2013:



Pro forma, year ended June 30:	2014		2013
Sales	$	2,576,220	$	2,600,453
Operating income	$	175,462	$	187,419
Net income	$	122,293	$	128,779
Diluted net income per share	$	2.89	$	3.03