Business Acquisitions (Tables) - Titan

9 Months Ended

Jan. 31, 2019

Acquisition of Titan

Schedule of preliminary allocation of the consideration transferred

The following table summarizes the preliminary allocation of the consideration transferred, and subsequent measurement period purchase price adjustments recorded, based on currently available information (in thousands):

	As Previously
	Reported
	October 31, 2018		Adjustments		January 31, 2019
Cash	$	5,573	$	—	$	5,573
Trade accounts and notes receivable		84,039		970		85,009
Inventories		60,272		—		60,272
Prepaid and other current assets		8,334		—		8,334
Property and equipment		37,263		—		37,263
Goodwill		196,969		(3,171)		193,798
Intangible assets		289,423		(2,469)		286,954
Accounts payable and accrued expenses		(40,833)		(970)		(41,803)
Contingent consideration		(12,039)		—		(12,039)
Deferred income taxes		(14,337)		2,085		(12,252)
Fair value of consideration transferred	$	614,664	$	(3,555)	$	611,109

Schedule of preliminary components of intangible assets acquired

The following table summarizes the preliminary components of intangible assets acquired in connection with the acquisition of Titan (dollars in thousands):

			Weighted
			Average
			Amortization
	Fair Value		Period (Years)
Customer relationships	$	246,954	15
Tradenames		30,870	15
Developed technology		5,402	5
Non-compete agreements		2,856	3
Other		872	3
Total intangible assets	$	286,954

Schedule of unaudited pro forma consolidated net sales and net income

The following table represents the unaudited pro forma consolidated net sales and net income for the Company for the periods indicated (in thousands):

	Three Months Ended					Nine Months Ended
	January 31,					January 31,
	2019		2018			2019	2018
Net sales	$	723,902	$	693,205	$	2,381,039	$	2,238,185
Net income		5,815		16,513		35,894		54,188