Acquisition (Tables)

3 Months Ended

Mar. 31, 2015

Acquisition [Abstract]

Summary of Fair Value Adjustments for Assets and Liabilities Assumed

The total estimated purchase price has been allocated to assets acquired (including identifiable intangible assets and goodwill) and liabilities assumed (including deferred taxes on identifiable intangible assets that are not deductible for income tax purposes), as follows (in thousands):

Description	Fair Value
Cash	$	686
Accounts Receivable		11,104
Inventory		55,544
Prepaid expenses and other current assets		2,641
Property and equipment		11,461
Customer relationships		85,700
Trade name		7,500
Goodwill		101,720
Accounts payable		(8,688	)
Accrued expenses and other current liabilities		(4,450	)
Long-term deferred tax liability		(35,861	)
	$	227,357
Cash consideration	$	192,357
Acquisition date fair value of earn-out obligation		35,000
Total	$	227,357

Business Acquisition, Pro Forma Information

The following unaudited pro forma results of operations assume the Aviation Acquisition had occurred on January 1, 2014 (in thousands except per share amounts):

	Three Months ended March 31,
	2015		2014
Revenue	$	128,196	$	148,997
Income from continuing operations	$	5,383	$	7,143
Basic earnings per share	$	1.00	$	1.34
Diluted earnings per share	$	1.00	$	1.33