Acquisitions (Tables)

9 Months Ended

Mar. 31, 2017

The following summarizes changes to the goodwill balance for the nine months ended March 31, 2017

	Carrying amount
Beginning balance July 1, 2016	$	195.3
Acquisitions (see note 2)		119.7
Adjustments to acquisitions (see note 2)		0.8
Translation adjustments		(0.8	)
Ending balance March 31, 2017	$	315.0

Pro Forma Results of Acquisitions

Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operation of the combined company would have been if the acquisition had occurred at the beginning of the period presented nor are they indicative of future results of operations and are not necessarily indicative of results that might have been achieved had the acquisition been consummated as of July 1, 2015.

	Three months ended				Nine months ended
	March 31,				March 31,
	2017		2016		2017			2016
Revenue	$	196.9	$	207.4	$	582.3		$	610.0
Income from operations		12.9		31.5		25.3			97.1
Net income (loss)		4.2		23.6		(9.1	)		66.6
Net income (loss) per share, basic	$	0.06	$	0.33	$	(0.13	)	$	0.95
Net income (loss) per share, diluted	$	0.06	$	0.32	$	(0.13	)	$	0.91

Assurex [Member]

Allocation of Consideration Transferred

The preliminary purchase price allocation as of March 31, 2017 is as follows:

	Estimated Fair Value
Current assets	$	18.2
Intangible assets		295.6
Equipment		1.8
Goodwill		119.7
Current liabilities		(18.6	)
Deferred tax liability		(65.1	)
Total fair value purchase price	$	351.6
Less: Contingent consideration		(130.0	)
Less: Cash acquired		(5.5	)
Total cash consideration transferred	$	216.1

Changes in Carrying Amount of Goodwill

Change in goodwill from the date of acquisition is shown below:

	Carrying
	amount
Balance September 30, 2016	$	116.3
Fair value adjustment to equipment and intangibles		1.7
Working capital adjustment		3.1
Change in deferred tax liability		(1.4	)
Ending balance March 31, 2017	$	119.7

Sividon Diagnostics GmbH [Member]

Allocation of Consideration Transferred

Management estimated the fair value of tangible and intangible assets and liabilities in accordance with the applicable accounting guidance for business combinations and utilized the services of third-party valuation consultants. The preliminary allocation of the consideration transferred is based on a preliminary valuation and is subject to potential adjustments. Balances subject to adjustment primarily include tax-related matters, including tax basis of acquired assets and liabilities in the foreign jurisdiction. During the measurement period, the Company may record adjustments to the provisional amounts recognized in the Company’s initial accounting for the acquisition. The Company expects the allocation of the consideration transferred to be final within the measurement period (up to one year from the acquisition date). Based upon updated fair value calculations as of the purchase date there was a decrease in contingent consideration of $0.4 and intangibles of $0.4 which increased goodwill by $0.8 during the nine months ended March 31, 2017.

	Estimated Fair
	Value
Current assets	$	2.7
Intangible assets		45.8
Equipment		0.3
Goodwill		18.5
Current liabilities		(15.4	)
Total fair value purchase price	$	51.9
Less: Contingent consideration		(10.9	)
Less: Cash acquired		(2.0	)
Total cash consideration transferred	$	39.0