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ACQUISITIONS (Tables)
 9 Months Ended
Sep. 30, 2013
Business Combination Allocation Of Purchase Price [Line Items]  
Purchase Price Allocation
The aggregate purchase price of $377.0 million was allocated to the opening balance sheet of Walker at May 8, 2012, the date of acquisition, 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
 
148,498
Total assets
$
452,870
 
 
 
Current liabilities
$
(74,722)
Deferred income taxes
 
(1,100)
Total liabilities
$
(75,822)
 
 
 
 
$
377,048
 
 
 
Acquisition, net of cash acquired
$
366,066
Intangible Assets
Intangible assets of $162.8 million were recorded as a result of the acquisition.  The intangible assets 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):
 
 
 
Nine Months Ended
September 30, 2012
 
Sales
 
$
1,182,073
 
Operating income
 
$
70,537
 
Net income
 
$
44,641
 
Basic and diluted net income per share
 
$
0.65
 
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
 
1,796
Total assets
$
14,393
 
 
 
Current liabilities
$
(462)
Total liabilities
$
(462)
 
 
 
Acquisition
$
13,931
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