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Business Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2019
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The purchase price allocation is preliminary, pending completion of the full valuation report and a final working capital adjustment to be agreed upon between the Company and the sellers. A summarized preliminary purchase price allocation is as follows:
Cash consideration paid | $ | 169,218 |
Equity consideration | 123,146 |
Purchase price holdback/ other accrued liabilities | 31,518 |
Total purchase price consideration | $ | 323,882 |
Schedule of Fair Value of Assets Acquired and Liabilities Assumed | The preliminary purchase price allocation at January 1, 2019, is as follows:
Cash and cash equivalents | $ | 21,923 |
Accounts receivable | 320,467 |
Inventories | 456,963 |
Commodity derivative assets - current | 82,595 |
Other current assets | 27,473 |
Commodity derivative assets - noncurrent | 13,576 |
Goodwill | 113,617 |
Other intangible assets | 116,200 |
Right of use asset | 42,972 |
Equity method investments | 28,728 |
Other assets, net | 2,211 |
Property, plant and equipment, net | 173,388 |
| 1,400,113 |
Short-term debt | 218,901 |
Trade and other payables | 303,321 |
Commodity derivative liabilities - current | 29,024 |
Customer prepayments and deferred revenue | 99,530 |
Accrued expense and other current liabilities | 63,263 |
Other long-term liabilities, including commodity derivative liabilities - noncurrent | 3,174 |
Long-term lease liabilities | 25,810 |
Long-term debt, including current maturities | 161,688 |
Deferred income taxes | 15,577 |
| 920,288 |
Fair value of acquired assets and assumed liabilities | $ | 479,825 |
Removal of preexisting ownership interest, including associated cumulative translation adjustment | (159,459 | )
Pre-tax loss on derecognition of preexisting ownership interest | 3,516 |
Total purchase price consideration | $ | 323,882 |
Schedule of Intangible Assets Acquired | Details of the intangible assets acquired are as follows:
|  | Estimated useful life |
Customer relationships | $ | 95,200 |  | 10 years |
Noncompete agreements | 21,000 |  | 3 years |
| $ | 116,200 |  | 8 years | *
Schedule of Pro Forma Financial Information | Pro Forma Financial Information The summary pro forma financial information for the periods presented below gives effect to the LTG acquisition as if it had occurred at January 1, 2018.
| Three Months Ended March 31 |
| 2019 |  | 2018
Net sales | $ | 1,974,092 |  |  | $ | 1,928,312 |
Net loss | (10,753 | ) |  | (10,396 | )

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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 finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + 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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- 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=84161108&loc=d3e4845-128472 + Details
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