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ACQUISITION OF SUPREME INDUSTRIES, INC. (Tables) | 12 Months Ended
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Dec. 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, as follows (in thousands):
| Acquisition Date
Cash | $ | 36,878 |
Accounts receivable | 25,196 |
Inventories | 33,471 |
Prepaid expense and other | 23,916 |
Property, plant, and equipment | 59,891 |
Intangible assets | 161,200 |
Goodwill | 167,714 |
Other assets | 127 |
Total assets acquired | 508,393 |
Current portion of long-term debt | 7,167 |
Accounts payable | 10,546 |
Other accrued liabilities | 55,518 |
Deferred income taxes | 71,880 |
Long-term liabilities | 2,918 |
Total liabilities assumed | 148,029 |
Net assets acquired | $ | 360,364 |
Acquisition, net of cash acquired | $ | 323,486 |
Intangible Assets | Intangible assets of $161.2 million were recorded as a result of the acquisition and consist of the following (in thousands):
| 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):
| Year Ended December 31,
| 2017 |  | 2016
Sales | $ | 1,998,043 |  |  | $ | 2,139,404 |
Net income | $ | 117,786 |  |  | $ | 124,323 |

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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://fasb.org/us-gaap/role/ref/legacyRef -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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