Business Acquisitions and Investments (Tables)

6 Months Ended

May 31, 2014



	Three Months Ended										Three Months Ended
	May 31, 2014										June 1, 2013
	As reported		CLARCOR Engine Mobile Solutions			CLARCOR Industrial Air			Pro forma		As reported		CLARCOR Engine Mobile Solutions			CLARCOR Industrial Air				Pro forma
Net sales	$	386,642	$	19,781		$	—		$	406,423	$	287,583	$	26,272		$	49,535			$	363,390
Operating profit	51,147		10,209		(a)	1,020		(b)	62,376		49,401		7,677		(d)	4,079			(f)	61,157
Net earnings attributable to CLARCOR	34,552		6,240			746			41,538		33,051		4,381			2,840				40,272
Diluted earnings per share	$	0.68	$	0.12		$	0.01		$	0.82	$	0.66	$	0.09		$	0.06			$	0.80

	Six Months Ended										Six Months Ended
	May 31, 2014										June 1, 2013
	As reported		CLARCOR Engine Mobile Solutions			CLARCOR Industrial Air			Pro forma		As reported		CLARCOR Engine Mobile Solutions			CLARCOR Industrial Air				Pro forma
Net sales	$	699,327	$	46,837		$	15,422		$	761,586	$	543,854	$	50,459		$	100,600			$	694,913
Operating profit (loss)	82,413		17,677		(a)	8,643		(c)	108,733		83,216		9,277		(e)	(2,898		)	(g)	89,595
Net earnings attributable to CLARCOR	58,873		10,485			6,426			75,784		56,513		4,801			(2,401		)		58,913
Diluted earnings per share	$	1.16	$	0.21		$	0.13		$	1.49	$	1.12	$	0.10		$	(0.05	)		$	1.17


(a)	Includes adjustments to remove transaction costs of $3,035 and cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $1,368, which have been pushed back to the three months ended March 2, 2013 for pro forma presentation. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(b)	Includes adjustments to cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $664, which have been pushed back to the six months ended June 1, 2013 for pro forma presentation.


(c)	Includes adjustments to remove transaction costs of $2,089 and cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $4,216, which have been pushed back to the period ended March 2, 2013 for pro forma presentation. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(d)	Includes adjustments to push back cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $144. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(e)	Includes adjustments to push back transaction costs of $3,740 and cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $4,342. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(f)	Includes adjustments to intangible asset amortization, depreciation expense and interest expense.


(g)	Includes adjustments to push back transaction costs of $3,075 and cost of sales related to the step-up of inventory to its estimated acquisition-date fair value of $1,368. Also includes adjustments to intangible asset amortization, depreciation expense and interest expense.

Stanadyne [Member]

Business Acquisition [Line Items]

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]



	Estimated		Weighted average	Amortization
Identifiable intangible assets	Value		Useful life	Method
Customer relationships	$	136,100	13 years	Straight-line
Developed technology	11,000		10 years	Straight-line
Trademarks	180		Indefinite	Not amortized
	$	147,280

Summary of estimated fair values of assets and liabilities assumed during acquisition

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition of CLARCOR Engine Mobile Solutions:



Accounts receivable		$	19,548
Inventories		7,367
Deferred income taxes		4,121
Property, plant and equipment		10,176
Goodwill		193,144
Intangible assets		147,280
	Total assets acquired	381,636
Current liabilities		8,476
Deferred income taxes		45,148
	Net assets acquired	$	328,012

Air Filtrations Segment of General Electric [Member]

Business Acquisition [Line Items]

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]



	Estimated		Weighted average	Amortization
Identifiable intangible assets	Value		Useful life	Method
Trade names	$	35,100	Indefinite	Not amortized
Customer relationships	77,300		13 years	Straight-line
Developed technology	19,900		13 years	Straight-line
GE Transitional Trademark License	50		Less than 1 Year	Accelerated
Backlog	670		Less than 1 Year	Accelerated
	$	133,020

Summary of estimated fair values of assets and liabilities assumed during acquisition

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition of CLARCOR Industrial Air:



Accounts receivable		$	34,453
Inventories		41,884
Other current assets		837
Property, plant and equipment		22,903
Goodwill		74,324
Intangible assets		133,020
	Total assets acquired	307,421
Total liabilities		47,109
	Net assets acquired	$	260,312

Schedule of results of acquiree

Net sales and operating profit for CLARCOR Industrial Air subsequent to the date it was acquired by the Company for the three and six months ended May 31, 2014 were as follows:



	Three Months Ended		Six Months Ended
	May 31, 2014		May 31, 2014
Net sales	$	66,985	$	112,363
Operating profit	4,820		3,772

Bekaert [Member]

Business Acquisition [Line Items]

Schedule of results of acquiree

Net sales and operating loss for the Bekaert business subsequent to the date it was acquired by the Company for the three and six months ended May 31, 2014 were as follows:



	Three Months Ended			Six Months Ended
	May 31, 2014			May 31, 2014
Net sales	$	3,526		$	6,303
Operating loss	(303		)	(554		)