Acquisitions (Tables) (TWB)

3 Months Ended

Aug. 31, 2013

TWB

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of TWB, we identified and valued the following identifiable intangible assets:

(in thousands)			Useful  Life (Years)
Category	Amount
Customer relationships	$	17,438		5-6
Trade names		4,120		Indefinite
Non-compete agreement		470		Indefinite
Total acquired identifiable intangible assets	$	22,028

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred for our 55% controlling interest in TWB and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Consideration Transferred:
Cash consideration	$	17,869
Fair value of previously held interest in TWB		72,369
Total consideration	$	90,238
Estimated Fair Value of Assets Acquired and Liabilities Assumed:
Cash and cash equivalents	$	70,826
Accounts receivable		52,012
Inventories		20,403
Prepaid expenses and other current assets		4,027
Intangible assets		22,028
Other noncurrent assets		103
Property, plant and equipment		52,390
Total identifiable assets		221,789
Accounts payable		(50,642	)
Accrued liabilities		(6,431	)
Deferred taxes		(2,109	)
Net assets		162,607
Noncontrolling interest		(72,369	)
Total consideration	$	90,238