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ACQUISITIONS (Tables)
 3 Months Ended
Mar. 31, 2013
Business Combination Allocation Of Purchase Price [Line Items]  
Purchase Price Allocation

The aggregate purchase price of $375.0 million was allocated to the opening balance sheet of Walker at May 8, 2012, the date of acquisition, which is still preliminary and subject to adjustment as, follows (in thousands):

 

Cash $10,982 
Current assets  93,409 
Property, plant and equipment  32,541 
Intangibles  162,800 
Deferred income taxes  4,640 
Goodwill  146,444 
Total assets $450,816 
     
Current liabilities $(74,722)
Deferred income taxes  (1,100)
Total liabilities $(75,822)
     
  $374,994 
     
Acquisition, net of cash acquired $364,012
Intangible Assets

Intangible assets of $162.8 million were recorded as a result of the acquisition. The intangible assets preliminarily consist of the following (in thousands):

 

  Amount  Useful Life
Backlog $900  Less than 1 year
Tradenames and Trademarks  27,600  20 years
Technology  15,300  12 years
Customer relationships  119,000  10 years
  $162,800   
Unaudited Pro Forma Information

The following unaudited pro forma information is shown below as if the acquisition of Walker had been completed as of the beginning of the earliest period presented (in thousands, except per share amounts):

 

  Three Months Ended
March 31, 2012		 
Sales $375,013 
Operating income $20,686 
Net income $12,515 
Basic and Diluted net income per share $0.18 
Beall Corporation
  
Business Combination Allocation Of Purchase Price [Line Items]  
Purchase Price Allocation

The aggregate consideration paid by the Company for the acquired assets and the assumed liabilities was $13.9 million, subject to post-closing purchase price adjustments related to the acquired working capital, and was preliminarily allocated to the opening balance sheet as follows (in thousands):

 

Current assets   $ 1,023  
Property, plant and equipment     2,714  
Intangibles     8,860  
Goodwill     1,725  
Total assets   $ 14,322  
         
Current liabilities   $ (462 )
Total liabilities   $ (462 )
         
Acquisition   $ 13,860
Intangible Assets

Intangible assets of $8.9 million were recorded as a result of the purchase of the Beall assets. The intangible assets preliminarily consist of the following (in thousands):

 

    Amount     Useful Life
Tradenames and Trademarks   $ 1,622     20 years
Technology     1,217     8 years
Customer relationships     6,021     8 years
    $ 8,860