Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Assets Acquired and Liabilities Assumed

The following table presents the assets acquired and liabilities assumed, based on their fair values and purchase consideration as of the acquisition date (in millions):



	July 10, 2017
Accounts receivable	$	43.2
Inventories	35.5
Deposits and prepayments	10.2
Other receivables	0.4
Property and equipment	43.1
Goodwill (tax deductible)	36.8
Other intangible assets	22.6
Less: Capital lease liability	(15.8		)
Less: Accrued liabilities	(2.0		)
Total consideration	$	174.0

Schedule of Intangible Assets Acquired

Based on the Company’s final valuation, intangible assets acquired include the following (in millions, except useful life data):



	Fair Value		Useful Life in Years
Customer relationships	$	19.7	9-11
Non-competition agreements	0.1		4-6
Trade names	2.8		1-2
Total other intangible assets	$	22.6

Schedule of Pro Forma Information

The following unaudited pro forma information presents the combined results of operations as if the asset acquisition of Farner-Bocken had occurred as of January 1, 2016, giving effect on a pro forma basis to purchase accounting adjustments such as depreciation of property and equipment, amortization of intangible assets, and acquisition-related costs. The pro forma data is for informational purposes only and may not necessarily reflect the actual results of operations had the assets of Farner-Bocken been operated as part of the Company since January 1, 2016. Furthermore, the pro forma results do not intend to project the future results of operations of the Company (in millions, except per share amounts):



	(Unaudited) Year Ended December 31,
	2017⁽¹⁾		2016⁽¹⁾
	Pro forma		Pro forma
Net sales	$	16,427.9	$	15,973.6
Net income	38.1		63.6
Basic and diluted earnings per share	0.82		1.37

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(1)

Includes consolidated results of Farner-Bocken.