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ACQUISITION OF PERFORMANCE CHEMICALS & INGREDIENTS COMPANY (Tables) | 6 Months Ended
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Jun. 30, 2014
ACQUISITION OF PERFORMANCE CHEMICALS & INGREDIENTS COMPANY [Abstract] |
Estimated fair values of the assets acquired and liabilities assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed.
Cash and cash equivalents |  | $ | 2,635 |
Accounts receivable, net |  |  | 25,674 |
Inventories |  |  | 32,000 |
Property, plant and equipment, net |  |  | 75,850 |
Customer relationships |  |  | 130,300 |
Trade names |  |  | 31,100 |
Developed technology |  |  | 3,200 |
Other assets |  |  | 3,955 |
Indemnification asset |  |  | 1,650 |
Trade accounts payable |  |  | (10,427 | )
Accrued expenses |  |  | (6,326 | )
Deferred income taxes |  |  | (77,500 | )
Goodwill |  |  | 357,131 |
Total purchase price |  | $ | 569,242
Acquisition of unaudited pro forma information | The following unaudited pro forma information has been prepared as if the acquisition had occurred on January 1, 2013.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | Net Sales |  |  | Net Earnings |  |  | Net Sales |  |  | Net Earnings |
SensoryEffects actual results included in the Company’s consolidated income statement from May 7, 2014 through June 30, 2014 |  | $ | 36,395 |  |  | $ | (457 | ) |  | $ | 36,395 |  |  | $ | (457 | )
2014 Supplemental pro forma combined financial information |  | $ | 157,635 |  |  | $ | 14,726 |  |  | $ | 302,242 |  |  | $ | 26,483 |
Basic earnings per share |  |  |  |  |  | $ | .49 |  |  |  |  |  |  | $ | .88 |
Diluted earnings per share |  |  |  |  |  | $ | .47 |  |  |  |  |  |  | $ | .85 |
2013 Supplemental pro forma combined financial information |  | $ | 130,248 |  |  | $ | 11,115 |  |  | $ | 264,164 |  |  | $ | 21,227 |
Basic earnings per share |  |  |  |  |  | $ | .38 |  |  |  |  |  |  | $ | .72 |
Diluted earnings per share |  |  |  |  |  | $ | .36 |  |  |  |  |  |  | $ | .69 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472 + Details
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