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Cincinnati Sub-Zero Acquisition (Tables) - Cincinnati Sub-Zero Products, LLC | 12 Months Ended
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Dec. 31, 2017
Summary of Preliminary Allocation | The purchase price allocation was finalized during the fourth quarter of 2016. The allocation as of April 1, 2016 was as follows:
Accounts receivable |  | $ | 10,790 |
Inventory |  |  | 16,284 |
Prepaid expenses and other assets |  |  | 1,143 |
Property and equipment |  |  | 12,919 |
Customer relationships |  |  | 11,700 |
Technology |  |  | 3,200 |
Trade name |  |  | 6,370 |
Goodwill |  |  | 24,622 | a
Assumed liabilities |  |  | (13,435 | )
Net assets acquired |  |  | 73,593 |
Cash acquired |  |  | 985 |
Purchase price |  | $ | 74,578 |
| (a) | The amount of recorded goodwill includes $2,000 of consideration owed to the seller for a tax gross up.
Supplemental Pro Forma Information | The unaudited pro forma combined historical results including the amounts of CSZ’s revenue and earnings that would have been included in the Company’s consolidated statements of income had the acquisition date been January 1, 2016 or January 1, 2015 are as follows:
|  | Three Months Ended December 31, |  |  | Twelve Months Ended December 31, |
|  | 2015 |  |  | 2016 |  |  | 2015 |
Product revenues |  | $ | 232,324 |  |  | $ | 933,505 |  |  | $ | 919,651 |
Net income |  | $ | 27,272 |  |  | $ | 74,485 |  |  | $ | 94,833 |
Basic earnings per share |  | $ | 0.75 |  |  | $ | 2.04 |  |  | $ | 2.63 |
Diluted earnings per share |  | $ | 0.75 |  |  | $ | 2.04 |  |  | $ | 2.60 |
Schedule of Intangible Assets, Net | Intangible assets, net consisted of the following:
|  | December 31, 2016
|  | Gross Value |  |  | Accumulated Amortization |  |  | Net Value |  |  | Useful Life
Customer relationships |  | $ | 11,700 |  |  | $ | 585 |  |  | $ | 11,115 |  |  | 15 yrs
Technology |  |  | 3,200 |  |  |  | 390 |  |  |  | 2,810 |  |  | 5 -7 yrs
Trade name |  |  | 6,370 |  |  |  | — |  |  |  | 6,370 |  |  | Indefinite
Total |  | $ | 21,270 |  |  | $ | 975 |  |  | $ | 20,295 |  |  |
Summary of Amortization Expense | Amortization expense of $325 and $975 for the three and twelve months ended December 31, 2016 was recorded as follows
|  | Three Months Ended December 31, 2016 |  | Twelve Months Ended December 31, 2016 |
Product revenues |  | $ | 195 |  | $ | 585 |
Research and development expenses |  |  | 130 |  |  | 390 |
Estimate of Total Intangible Asset Amortization | Amortization expense for the prospective five years is as follows:
2017 |  | $ | 1,300 |
2018 |  | $ | 1,300 |
2019 |  | $ | 1,300 |
2020 |  | $ | 1,300 |
2021 |  | $ | 1,135 |
Summary of Property and Equipment | Property and equipment consist of the following:
Asset category |  | Useful life |  | Amount |
Land |  | Indefinite |  | $ | 1,630 |
Buildings |  | 20 yrs |  |  | 6,024 |
Machinery and equipment |  | 5-7 yrs |  |  | 3,718 |
Computer hardware and software |  | 3-5 yrs |  |  | 586 |
Assets under construction |  |  |  |  | 961 |
|  |  |  | $ | 12,919 |

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