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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2019
Business Combinations [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed | The following table reflects the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date (in thousands):
Cash | $ | 87 |
Accounts receivable | 6,278 |
Inventory | 17,731 |
Prepaid and other assets | 1,451 |
Property, plant and equipment | 13,439 |
Intangible assets | 14,095 |
Deferred tax liability | (4,265) |
Other liabilities assumed | (8,302) |
Net assets assumed | $ | 40,514 |
Goodwill | 12,097 |
Acquisition Price | $ | 52,611 |
The following table reflects the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date (in thousands):
Accounts receivable | $ | 13,966 |
Inventory | 72,972 |
Prepaid and other assets | 5,180 |
Rental Equipment | 1,133 |
Property, plant and equipment | 44,552 |
Intangible assets | 149,015 |
Deferred tax liability | (7,628) |
Other liabilities assumed | (32,275) |
Net assets assumed | $ | 246,915 |
Goodwill | 102,662 |
Total Acquisition Price net cash | 349,577 |
Plus: Cash | 4,735 |
Total Consideration | 354,312 |
Schedule of Business Acquisition, Pro Forma Information | The unaudited pro forma statement of income of the Company is as follows:
|  | (Unaudited) Year Ended December 31, |  |
(In thousands, except per share amounts) |  | 2019 |  | 2018
Net sales |  | $ | 1,329,901 |  |  |  | $ | 1,214,285 |
Net income |  | $ | 69,417 |  |  |  | $ | 56,697 |
Diluted earnings per share |  | $ | 5.88 |  |  | $ | 4.82 |

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