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Acquisitions (Tables) | 6 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary purchase price allocation based on the estimated fair values of the assets acquired and liabilities assumed at the acquisition date:
Consideration: |
Cash consideration paid | $ | 150,675 |
Recognized preliminary amounts of identifiable assets acquired and (liabilities assumed), at fair value: |
Cash | $ | 248 |
Accounts receivable | 3,204 |
Inventories | 7,756 |
Other current assets | 194 |
Property, plant and equipment | 22,618 |
Identifiable intangible assets | 102,600 |
Other assets | 4,410 |
Current liabilities | (6,611) |
Deferred tax liabilities | (28,528) |
Other liabilities | (4,405) |
Fair value of assets acquired and liabilities assumed | 101,486 |
Goodwill | 49,189 |
Total purchase price | $ | 150,675 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The preliminary 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 | $ | 47,900 |  |  | 20
Total definite-lived intangibles | 47,900 |  |  |
Indefinite-lived intangible: |  |  |
Trade name | 54,700 |  |  |
Total intangible assets | $ | 102,600 |  |  |
Business Acquisition, Pro Forma Information | The following unaudited pro forma consolidated results of operations for the three and six months ended December 31, 2020 and 2019, assumes that the acquisition of Maverick Boat Group occurred as of July 1, 2019. The unaudited interim pro forma financial information combines historical results of Malibu and Maverick Boat Group, with adjustments for depreciation and amortization attributable to preliminary fair value estimates on acquired tangible and intangible assets for the respective periods. Non-recurring pro forma adjustments associated with the fair value step up of inventory were included in the reported pro forma cost of sales and earnings. 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 2020 or the results that may occur in the future:
| Three Months Ended December 31, |  | Six Months Ended December 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
Net sales | $ | 224,348 |  |  | $ | 211,113 |  |  | $ | 432,651 |  |  | $ | 417,001 |
Net income | 23,287 |  |  | 19,102 |  |  | 46,500 |  |  | 36,200 |
Net income attributable to Malibu Boats, Inc. | 22,335 |  |  | 18,179 |  |  | 44,572 |  |  | 34,457 |
Basic earnings per share | $ | 1.08 |  |  | $ | 0.88 |  |  | $ | 2.16 |  |  | $ | 1.66 |
Diluted earnings per share | $ | 1.06 |  |  | $ | 0.88 |  |  | $ | 2.13 |  |  | $ | 1.66 |

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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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- 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 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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