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Acquisition (Tables) | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Allocated fair value of assets acquired and liabilities assumed | The allocated fair value of assets acquired and liabilities assumed are summarized as follows (in thousands):
Trade accounts receivable | $ | 109,494 |
Inventories | 79,705 |
Property, plant and equipment | 253,708 |
Other intangible assets | 245,000 |
Other assets | 40,396 |
Trade accounts payable and accrued liabilities | (81,783 | )
Deferred income taxes | (122,544 | )
Other liabilities | (25,340 | )
Total identifiable net assets | 498,636 |
Goodwill | 523,456 |
Cash paid at closing, net of cash acquired | $ | 1,022,092 |
Business acquisition, pro forma information | The unaudited pro forma financial information for the three and six months ended June 30, 2017 and 2016 is not intended to represent or be indicative of our consolidated results of operations or financial condition that would have been reported had the SDS acquisition been completed as of the beginning of the periods presented, nor should it be taken as indicative of our future consolidated results of operations or financial condition.
| Three Months Ended |  | Six Months Ended
| June 30, 2017 |  | June 30, 2016 |  | June 30, 2017 |  | June 30, 2016
| (Dollars in thousands, except per share data)
Net sales | $ | 1,029,398 |  |  | $ | 1,026,040 |  |  | $ | 1,981,187 |  |  | $ | 1,963,011 |
Net income | $ | 42,089 |  |  | $ | 41,430 |  |  | $ | 80,846 |  |  | $ | 48,851 |
Earnings per share: |  |  |  |  |  |  |
Basic net income per share | $ | 0.38 |  |  | $ | 0.34 |  |  | $ | 0.73 |  |  | $ | 0.40 |
Diluted net income per share | $ | 0.38 |  |  | $ | 0.34 |  |  | $ | 0.73 |  |  | $ | 0.40 |

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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=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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