XML 48 R33.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Acquisitions Acquisitions (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2016
Business Combinations [Abstract] |
Summary of the Components of the Purchase Price Allocations | The following table summarizes the components of the purchase price allocations for the fiscal 2014 acquisitions (as revised):
| Tilda |  | Rudi’s |  | Total
Purchase price: |  |  |  |  |
Cash paid, net of cash acquired | $ | 123,822 |  |  | $ | 50,807 |  |  | $ | 174,629 |
Equity issued | 148,353 |  |  | 11,168 |  |  | 159,521 |
Vendor Loan Note | 32,958 |  |  | — |  |  | 32,958 |
| $ | 305,133 |  |  | $ | 61,975 |  |  | $ | 367,108 |
Allocation: |  |  |  |  |
Current assets, excluding cash acquired | $ | 88,470 |  |  | $ | 8,158 |  |  | $ | 96,628 |
Property, plant and equipment | 39,806 |  |  | 3,774 |  |  | 43,580 |
Identifiable intangible assets | 124,549 |  |  | 27,514 |  |  | 152,063 |
Assumed liabilities | (93,743 | ) |  | (6,690 | ) |  | (100,433 | )
Deferred income taxes | (26,527 | ) |  | 1,932 |  |  | (24,595 | )
Goodwill | 172,578 |  |  | 27,287 |  |  | 199,865 |
| $ | 305,133 |  |  | $ | 61,975 |  |  | $ | 367,108 |
The following table summarizes the components of the purchase price allocations for the fiscal 2016 acquisitions:
| Mona |  | Orchard House |  | Total
Purchase Price: |  |  |  |  |
Cash paid, net of cash acquired | $ | 24,948 |  |  | $ | 114,113 |  |  | $ | 139,061 |
Equity issued | 16,308 |  |  | — |  |  | 16,308 |
Fair value of contingent consideration | — |  |  | 2,225 |  |  | 2,225 |
| $ | 41,256 |  |  | $ | 116,338 |  |  | $ | 157,594 |
Allocation: |  |  |  |  |
Current assets, excluding cash acquired | $ | 17,526 |  |  | $ | 18,960 |  |  | $ | 36,486 |
Property, plant and equipment | 16,583 |  |  | 18,594 |  |  | 35,177 |
Other long term assets | 226 |  |  | — |  |  | 226 |
Identifiable intangible assets | 14,803 |  |  | 54,888 |  |  | 69,691 |
Deferred taxes | (1,012 | ) |  | (9,463 | ) |  | (10,475 | )
Assumed liabilities | (27,651 | ) |  | (23,660 | ) |  | (51,311 | )
Goodwill | 20,781 |  |  | 57,019 |  |  | 77,800 |
| $ | 41,256 |  |  | $ | 116,338 |  |  | $ | 157,594 |
The following table summarizes the components of the purchase price allocations for the fiscal 2015 acquisitions (as revised):
| HPPC |  | Belvedere |  | Empire |  | Total
Carrying value of pre-existing interest, after fair value adjustments: | $ | 36,074 |  |  | $ | — |  |  | $ | 9,786 |  |  | $ | 45,860 |
Purchase Price: |  |  |  |  |  |  |
Cash paid, net of cash acquired | 20,310 |  |  | 13,988 |  |  | 57,595 |  |  | 91,893 |
Equity issued | 19,690 |  |  | — |  |  | — |  |  | 19,690 |
Fair value of contingent consideration | — |  |  | 1,603 |  |  | — |  |  | 1,603 |
| $ | 76,074 |  |  | $ | 15,591 |  |  | $ | 67,381 |  |  | $ | 159,046 |
Allocation: |  |  |  |  |  |  |
Current assets, excluding cash acquired | $ | 50,464 |  |  | $ | 10,542 |  |  | $ | 19,774 |  |  | $ | 80,780 |
Property, plant and equipment | 29,599 |  |  | 2,598 |  |  | 12,334 |  |  | 44,531 |
Other assets | 7,288 |  |  | — |  |  | — |  |  | 7,288 |
Identifiable intangible assets | 20,700 |  |  | 5,850 |  |  | 34,800 |  |  | 61,350 |
Deferred taxes | 490 |  |  | (3,890 | ) |  | (14,764 | ) |  | (18,164 | )
Assumed liabilities | (42,332 | ) |  | (1,825 | ) |  | (15,987 | ) |  | (60,144 | )
Goodwill | 9,865 |  |  | 2,316 |  |  | 31,224 |  |  | 43,405 |
| $ | 76,074 |  |  | $ | 15,591 |  |  | $ | 67,381 |  |  | $ | 159,046 |
Summary of Unaudited Pro Forma Results of Continuing Operations | The following table provides unaudited pro forma results of continuing operations for the fiscal years ended June 30, 2016 and 2015, as if the acquisitions of Orchard House and Mona had been completed at the beginning of fiscal 2015. The information has been provided for illustrative purposes only and does not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that will be achieved by the combined company in the future. The pro forma information has been adjusted to give effect to items that are directly attributable to the transactions and are expected to have a continuing impact on the combined results.
| Fiscal Year Ended June 30,
| 2016 |  | 2015
Net sales from continuing operations | $ | 2,973,872 |  |  | $ | 2,947,536 |
Net income from continuing operations | $ | 51,270 |  |  | $ | 177,435 |
Net income per common share from continuing operations - diluted | $ | 0.49 |  |  | $ | 1.71 |
The following table provides unaudited pro forma results of continuing operations for the fiscal year ended June 30, 2014, as if the acquisitions completed in fiscal 2014 (Rudi’s and Tilda) had been completed at the beginning of fiscal year 2014. The information has been provided for illustrative purposes only and does not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that will be achieved by the Company in the future. The pro forma information has been adjusted to give effect to items that are directly attributable to the transactions and are expected to have a continuing impact on the combined results, which include amortization expense associated with acquired identifiable intangible assets and interest expense associated with bank borrowings to fund the acquisitions.
| Fiscal Year Ended June 30, 2014 (Revised)
Net sales from continuing operations | $ | 2,264,751 |
Net income from continuing operations | $ | 141,605 |
Net income per common share from continuing operations - diluted | $ | 1.40 |
The following table provides unaudited pro forma results of continuing operations for the fiscal years ended June 30, 2015 and 2014, as if the acquisitions completed in fiscal 2015 (HPPC, Belvedere and Empire) had been completed at the beginning of fiscal year 2014. The information has been provided for illustrative purposes only and does not purport to be indicative of the actual results that would have been achieved by the Company for the periods presented or that will be achieved by the combined company in the future. The pro forma information has been adjusted to give effect to items that are directly attributable to the transactions and are expected to have a continuing impact on the combined results, which include amortization expense associated with acquired identifiable intangible assets and the impact of reversing our previously recorded equity in HPPC’s net income as prior to the date of acquisition, HPPC was accounted for under the equity-method of accounting.
| Fiscal Year Ended June 30,
| 2015 (Revised) |  | 2014 (Revised)
Net sales from continuing operations | $ | 2,718,466 |  |  | $ | 2,512,384 |
Net income from continuing operations | $ | 168,196 |  |  | $ | 138,286 |
Net income per common share from continuing operations - diluted | $ | 1.63 |  |  | $ | 1.38 |

X
- 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) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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=65885119&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=65885119&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration