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Business Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2012
Business Acquisitions [Abstract] |
Allocation of purchase price to the assets acquired and liabilities assumed | The allocation of purchase price to assets acquired and liabilities assumed is based upon their fair values. The following table presents the allocation of purchase price to assets acquired and liabilities assumed (in thousands):
Purchase price: |  |  |  |  | $ | 38,594 |
Assets acquired and liabilities assumed: |  |  |  |  |  |  |
Receivables |  | $ | 9,114 |  |  |  |  |
Inventory |  |  | 22,736 |  |  |  |  |
Other current assets |  |  | 60 |  |  |  |  |
Property, plant and equipment, net |  |  | 1,427 |  |  |  |  |
Intangible assets |  |  | 8,870 |  |  |  |  |
Goodwill |  |  | 9,703 |  |  |  |  |
Current liabilities |  |  | (13,316 | ) |  |  |  |
Net assets acquired |  |  |  |  |  | $ | 38,594 |
The following table presents the allocation of the purchase price to the assets acquired and liabilities assumed, based on their fair values (in thousands):
|  | BLD Products, Ltd. |  |  | Forecast Trading Corporation |
Purchase price: |  |  |  |  | $ | 26,984 |  |  |  |  |  | $ | 44,250 |
Assets acquired and liabilities assumed: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivables |  | $ | 1,944 |  |  |  |  |  |  | $ | 6,300 |  |  |  |  |
Inventory |  |  | 3,826 |  |  |  |  |  |  |  | 10,120 |  |  |  |  |
Other current assets (1) |  |  | 3 |  |  |  |  |  |  |  | 700 |  |  |  |  |
Property, plant and equipment, net |  |  | 1,965 |  |  |  |  |  |  |  | 3,840 |  |  |  |  |
Other assets |  |  | - |  |  |  |  |  |  |  | 10 |  |  |  |  |
Intangible assets |  |  | 7,200 |  |  |  |  |  |  |  | 15,300 |  |  |  |  |
Goodwill |  |  | 12,867 |  |  |  |  |  |  |  | 11,820 |  |  |  |  |
Current liabilities |  |  | (821 | ) |  |  |  |  |  |  | (3,840 | ) |  |  |  |
Net assets acquired |  |  |  |  |  | $ | 26,984 |  |  |  |  |  |  | $ | 44,250 |
| (1) | The other current assets balance for Forecast Trading Corporation includes $0.7 million of cash acquired.
Business Acquisition, Pro Forma Information | The following table summarizes certain supplemental pro forma financial information which was prepared as if (i) the acquisitions of the Engine Control business of BLD Products, Ltd., acquired in April 2011, and Forecast Trading Corporation, acquired in October 2011, had occurred as of January 1, 2010 and (ii) the acquisition of substantially all of the assets of CompressorWorks, Inc., acquired in April 2012, had occurred as of January 1, 2011. The unaudited pro forma financial information was prepared for comparative purposes only and does not purport to be indicative of what would have occurred had the acquisitions been made at that time or of results which may occur in the future. Supplemental unaudited pro forma financial information for the acquisitions is as follows (in thousands):
|  | December 31, 2012 |  |  | December 31, 2011 |
|  | Reported |  |  | Pro Forma |  |  | Reported |  |  | Pro Forma |
Revenues |  | $ | 948,916 |  |  | $ | 968,658 |  |  | $ | 874,625 |  |  | $ | 963,751 |
Net earnings |  |  | 41,353 |  |  |  | 43,262 |  |  |  | 62,401 |  |  |  | 64,331 |

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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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