Acquisitions Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

The final calculation of consideration transferred is as follows:



(in thousands, except share and per share data)
Number of SBS shares outstanding on the closing date of the Merger	26,186,111
SBS common stock price per share on the closing date of the Merger	$	16.99
Deemed (for accounting purposes only) issuance of BMC stock to SBS shareholders	444,902
Fair value of SBS equity awards	8,488
Total consideration transferred	$	453,390

Unaudited pro forma financial information is as follows:



	Pro Forma Year Ended December 31,
(in thousands)	2015		2014
Net sales	$	2,890,163	$	2,819,398
Net income	15,098		56,710
Basic net income per share	0.23		0.87
Diluted net income per share	0.23		0.86

The final allocated fair values of acquired assets and assumed liabilities is summarized as follows:



(in thousands)
Cash and cash equivalents	$	6,342
Accounts receivable	124,526
Inventories	115,888
Other current assets	26,504
Property and equipment	125,717
Customer relationships	129,800
Trademarks	4,500
Non-compete agreements	6,112
Favorable lease agreements	5,050
Other long-term assets	1,302
Accounts payable	(77,062		)
Accrued expenses and other liabilities	(40,652		)
Unfavorable lease agreements	(4,550		)
Current portion of capital lease obligations	(3,275		)
Other current liabilities	(6,664		)
Long-term debt	(67,713		)
Deferred income taxes	(75,006		)
Long-term portion of capital lease obligations	(11,612		)
Other long-term liabilities	(5,666		)
Identifiable net assets acquired	253,541
Goodwill	199,849
Total net assets acquired	$	453,390

The final allocated fair values of acquired assets and assumed liabilities is summarized as follows:



(in thousands)
Accounts receivable	$	8,343
Inventories	6,702
Prepaid expenses and other current assets	122
Property and equipment	5,524
Customer relationships	39,900
Non-compete agreements	400
Accounts payable and other accrued liabilities	(3,058		)
Identifiable net assets acquired	57,933
Goodwill	44,417
Total net assets acquired	$	102,350

The final allocated fair values of acquired assets and assumed liabilities is summarized as follows:



(in thousands)
Cash	$	2,344
Accounts receivable	19,452
Inventories	10,665
Prepaid expenses and other current assets	952
Property and equipment	11,643
Customer relationships	10,000
Trademarks	850
Other long-term assets	59
Accounts payable	(7,464		)
Accrued payable and other accrued liabilities	(4,087		)
Deferred taxes	(4,364		)
Identifiable net assets acquired	40,050
Goodwill	9,429
Total net assets acquired	$	49,479