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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Summary of preliminary fair values of net assets acquired and determination of final net assets | The following table summarizes the preliminary fair values assigned to the TAP net assets acquired and the determination of final net assets (in thousands):
Cash and cash equivalents | $ | 3,017 |
Trade receivables | 18,214 |
Inventory | 145,612 |
Property, plant and equipment | 32,814 |
Customer relationships | 87,000 |
Trademarks / trade names | 175,500 |
Goodwill | 264,324 |
Other assets | 18,578 |
Deferred revenue | (7,944 | )
Other liabilities assumed | (65,750 | )
Total fair value of net assets acquired | 671,365 |
Less cash acquired | (3,017 | )
Total consideration for acquisition, less cash acquired | $ | 668,348 |
Unaudited pro forma information | These performance results may not be indicative of the actual results that would have occurred under the ownership and management of the Company.
| Three months ended June 30, 2016 |  | Six months ended June 30, 2016
Net sales | $ | 1,328,647 |  |  | $ | 2,499,277 |
Net income | $ | 78,018 |  |  | $ | 129,067 |
Basic earnings per share | $ | 1.21 |  |  | $ | 1.99 |
Diluted earnings per common share | $ | 1.19 |  |  | $ | 1.97 |

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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=65885119&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=73530397&loc=d3e4845-128472 + Details
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