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Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2015
Business Combinations [Abstract]  
Final Allocation of Purchase Price to Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the purchase price to fair values of assets acquired and liabilities assumed as of the date of the acquisition.

 

(In millions)       

Accounts receivable

    $ 31.0   

Inventories

      28.4   

Property, plant and equipment

      28.9   

Goodwill

      450.5   

Identifiable intangible assets

      200.0   

Other assets

      18.7   
  

 

 

  

Total assets

      757.5   

Deferred tax liabilities

      80.2   

Other liabilities and accruals

      28.7   
  

 

 

  

Net assets acquired

    $ 648.6   

Proforma Consolidated Financial Information

The following unaudited pro forma summary presents consolidated financial information as if Norcraft had been acquired on January 1, 2014. The unaudited pro forma financial information is based on historical results of operations and financial position of the Company and Norcraft. The unaudited pro forma financial information does not necessarily represent the results that would have occurred had the acquisition occurred on January 1, 2014. In addition, the unaudited pro forma information should not be deemed to be indicative of future results.

 

(In millions, except per share amounts)    Six Months Ended
June 30,		      Three Months Ended
June 30,		  
     2015      2014      2015      2014  

Net sales

    $ 2,258.3       $ 2,096.8       $ 1,213.1       $ 1,124.2   

Income from continuing operations

      134.9         126.2         90.1         91.6   

Basic earnings per common share

    $ 0.85       $ 0.76       $ 0.57       $ 0.56   

Diluted earnings per common share

    $ 0.83       $ 0.74       $ 0.56       $ 0.54