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ACQUISITION OF SUPREME INDUSTRIES, INC. (Tables)

3 Months Ended

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 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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
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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)
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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

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