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Acquisitions (Tables) | 6 Months Ended
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Dec. 31, 2019
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the purchase price allocation based on the estimated fair values of the assets acquired and liabilities of Pursuit assumed at the acquisition date:
Consideration: |
Cash consideration paid | $ | 100,073 |
Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value: |
Inventories | $ | 8,332 |
Other current assets | 350 |
Property, plant and equipment | 17,454 |
Identifiable intangible assets | 57,900 |
Current liabilities | (3,488 | )
Fair value of assets acquired and liabilities assumed | 80,548 |
Goodwill | 19,525 |
Total purchase price | $ | 100,073 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The fair value estimates for the Company's identifiable intangible assets acquired as part of the acquisition are as follows:
| Estimates of Fair Value |  | Estimated Useful Life (in years)
Definite-lived intangibles: |  |  |
Dealer relationships | $ | 25,400 |  |  | 20
Total definite-lived intangibles | 25,400 |  |  |
Indefinite-lived intangible: |  |  |
Trade name | 32,500 |  |  |
Total intangible assets | $ | 57,900 |  |  |
Business Acquisition, Pro Forma Information | The unaudited interim pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal year 2019 or the results that may occur in the future:
| Three Months Ended December 31, |  | Six Months Ended December 31,
| 2019 |  | 2018 |  | 2019 |  | 2018
Net sales | $ | 180,112 |  |  | $ | 172,219 |  |  | $ | 352,192 |  |  | $ | 330,918 |
Net income | 17,598 |  |  | 15,553 |  |  | 34,280 |  |  | 31,083 |
Net income attributable to Malibu Boats, Inc. | 16,722 |  |  | 14,784 |  |  | 32,581 |  |  | 29,394 |
Basic earnings per share | $ | 0.81 |  |  | $ | 0.71 |  |  | $ | 1.57 |  |  | $ | 1.42 |
Diluted earnings per share | $ | 0.81 |  |  | $ | 0.70 |  |  | $ | 1.57 |  |  | $ | 1.41 |

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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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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