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BUSINESS ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2012
BUSINESS ACQUISITIONS [Abstract] |
Estimated fair values of assets acquired and liabilities assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed during 2012 and 2011 in connection with the acquisitions described above (in thousands):
Cash |  | $ 12,377
Accounts Receivable, net |  | 50,645
Inventory |  | 17,805
Property and equipment |  | 36,303
Goodwill and intangibles |  | 108,842
Other assets |  | 2,839
Assets acquired |  | 228,811
Current liabilities assumed |  | (32,166)
Non-current liabilities assumed |  | (15,296)
Net assets acquired |  | $ 181,349
Pro forma unaudited results of operations | The pro forma unaudited results of operations for the Company on a consolidated basis for the twelve months ended December 31, 2012 and 2011, assuming the acquisition of businesses completed in 2012 and 2011 were consummated as of January 1, 2011 are as follows (in thousands, except per share data):
| Years Ended December 31,
| 2012 |  | 2011
Net sales | $ 1,177,091 |  | $ 1,062,540
Net income | $ 54,033 |  | $ 41,359
Per share data |  |  |
Basic earnings | $ 3.75 |  | $ 2.88
Diluted earnings | $ 3.55 |  | $ 2.72
The pro forma unaudited results of operations for the Company on a consolidated basis for the years ended December 31, 2010 and 2011, assuming the acquisitions of businesses completed in 2011 were consummated as of January 1, 2010 follows (in thousands, except per share data):
| Years Ended December 31,
| 2011 |  | 2010
Net sales | $ 903,240 |  | $ 778,267
Net income | $ 35,511 |  | $ 22,898
Per share data |  |  |
Basic earnings | $ 2.48 |  | $ 1.65
Diluted earnings | $ 2.35 |  | $ 1.56

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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=7659399&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 54 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141 -Paragraph 55 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 141R -Paragraph 68 -Subparagraph r(2, 3) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6927-128479 + Details
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