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ACQUISITION OF SUPREME INDUSTRIES, INC. (Tables) | 3 Months Ended
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Mar. 31, 2018
Business Combinations [Abstract] |
Purchase Price Allocation | The aggregate purchase price of $360.4 million was allocated to the opening balance sheet of Supreme at September 27, 2017, the date of acquisition, which is still preliminary and subject to adjustment as follows (in thousands):
Supreme Opening Balance Sheet as of 9/27/17 |  |  |  |
(in thousands) |  |  |  |
Cash |  | $ | 36,878 |
Accounts receivable |  |  | 25,196 |
Inventories |  |  | 33,727 |
Prepaid expense and other |  |  | 21,730 |
Property, plant, and equipment |  |  | 59,891 |
Intangibles |  |  | 161,200 |
Goodwill |  |  | 169,621 |
Other assets |  |  | 127 |
Total assets acquired |  | $ | 508,370 |
Current portion of long term debt |  | $ | 7,167 |
Accounts payable |  |  | 10,546 |
Other accrued liabilites |  |  | 55,428 |
Deferred income taxes |  |  | 71,946 |
Long term liabilities |  |  | 2,918 |
Total liabilities assumed |  | $ | 148,005 |
Net assets acquired |  | $ | 360,365 |
Acquisition, net of cash acquired |  | $ | 323,487 |
Intangible Assets |
Intangibles |  |  |  |  |  |
|  | Amount |  | Useful Life |
Tradename |  | $ | 20,000 |  | 20 years |
Customer relationships |  |  | 139,000 |  | 15 years |
Backlog |  |  | 2,200 |  | Less than 1 year |
|  | $ | 161,200 |  |  |
Pro Forma Information | The following unaudited pro forma information is shown below as if the acquisition of Supreme had been completed as of the beginning of the earliest period presented (in thousands):
|  | Three Months Ended March 31, |
|  | 2017 |
Sales |  | $ | 427,559 |
Net income |  | $ | 18,493 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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