Acquisitions (Tables)

3 Months Ended

Oct. 31, 2019

Schedule of purchase price allocated to the assets acquired and assumed liabilities based on estimated fair values

The following table presents our purchase price allocations of our material acquisitions:



	2020			2019
Purchase Price Allocation	Hu-Friedy			Omnia			CES Business⁽¹⁾
	(Preliminary)			(Preliminary)			(Final)
Purchase Price:
Cash paid	$	658,933		$	16,598		$	17,047
Fair value of contingent consideration	35,100			—			—
Common stock issued	60,000			3,210			—
Total	$	754,033		$	19,808		$	17,047

Allocation:
Property and equipment	38,571			1,285			539
Intangible assets:
Customer relationships	226,000			10,206			8,100
Technology	32,000			1,257			—
Brand names	112,000			1,600			—
Goodwill	276,483			11,340			6,137
Deferred income taxes	—			(2,346		)	—
Inventories	60,596			—			—
Other working capital	43,483			1,673			2,271
Contingent consideration	(35,100		)	—			—
Long-term debt	—			(5,207		)	—
Total	$	754,033		$	19,808		$	17,047

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(1)

The excess purchase price over net assets acquired was assigned to goodwill, all of which is deductible for income tax purposes.

Schedule of pro forma summary of operations

The following pro forma summary of operations presents our operations as if the Hu-Friedy acquisition had occurred as of the beginning of fiscal 2019. In addition to including the results of operations of this acquisition, the pro forma information gives effect to amortization of the step-up in inventory, depreciation of the step-up in property and equipment, the interest on additional borrowings, the amortization of intangible assets and the issuance of shares of common stock. On an actual basis, the Hu-Friedy acquisition contributed $18,725 to our consolidated net sales for the three months ended October 31, 2019.



	Three Months Ended October 31,
Pro Forma Summary of Operations	2019		2018
Net sales	$	296,454	$	279,428
Net income	$	952	$	19,619
Earnings per common share:
Basic	$	0.02	$	0.46
Diluted	$	0.02	$	0.46