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ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Summary of Purchase Price
The purchase price, as adjusted, has been determined to be as follows (in thousands):
Cash$217,511  
Share consideration76,905  
Total purchase price$294,416  
Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities
The purchase price was allocated based on the Company’s final estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):
Accounts receivable$26,224  
Inventory29,044  
Other assets5,620  
Other liabilities(23,018) 
Deferred income tax(13,881) 
Goodwill and other intangibles270,427  
Total allocated value$294,416  
The purchase price was allocated based on the Company’s estimate of the fair values of the assets acquired and liabilities assumed, as follows (in thousands):
Accounts receivable$3,115  
Inventory5,424  
Other assets458  
Other liabilities(2,056) 
Goodwill and other intangibles2,131  
Total allocated value  $9,072  
Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings The following unaudited pro forma financial information presents the results of the Company as if the acquisition of Filament had occurred on January 1, 2017.
The unaudited pro forma results do not include any revenue or cost reductions that may be achieved through the business combination or the impact of non-recurring items directly related to the business combination.
Year ended December 31,
20182017
(In thousands, except per share data)
Net sales$730,353  $747,549  
Income before income taxes and equity in earnings2,439  14,151  
Net (loss) income(267) 5,794  
Basic and diluted (loss) income per common share$(0.01) $0.28