Business Combinations Business Combinations (Tables)

9 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Business Acquisition, Pro Forma Information [Table Text Block]

The following unaudited pro forma consolidated results of operations have been prepared as if the Reliance and Knox acquisitions (including the related acquisition costs) had occurred at the beginning of the first quarter of fiscal 2014:



March 31, 2014	Three Months Ended		Nine Months Ended
Pro forma financial information:
Sales	$	672,883	$	1,974,698
Operating income	$	45,407	$	135,330
Net income	$	32,657	$	89,978
Diluted net income per share	$	0.77	$	2.12

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the consideration transferred, assets acquired, and liabilities assumed in connection with the acquisition of Knox based on their estimated fair values at the acquisition date, including preliminary estimates of certain assets which are subject to adjustment:



	Knox Acquisition
Accounts receivable	$	20,100
Inventories	18,900
Property	4,000
Identifiable intangible assets	58,500
Goodwill	63,400
Total assets acquired	164,900
Accounts payable and accrued liabilities	8,500
Deferred income taxes	23,900
Net assets acquired	$	132,500

Purchase price	132,800
Reconciliation of fair value transferred:
Working Capital Adjustments	(300		)
Total Consideration	$	132,500

None of the goodwill acquired is expected to be deductible for income tax purposes. The goodwill recognized is attributable primarily to expected synergies and other benefits that the Company believes will result from the acquisition of Knox.