3. Acquisitions

The following acquisitions were made during the six months ended June 30, 2014.



2014 Acquisitions
Date	Type	Company / Product Line Acquired	Location (Near)	Segment
January 1	Stock	Heidelberg CSAT GmbH	Germany	Engineered Systems
Manufacturer of digital printing systems that are installed in-packaging-line for the identification of pharmaceutical and medical products.

February 3	Stock	MS Printing Solutions	Italy	Engineered Systems
Manufacturer of innovative digital ink jet printing systems for the textile and specialty material industries.

June 11	Asset	Timberline Manufacturing Company	Beaumont, Texas	Energy
Manufacturer of chemical injection and metering solutions for oil and gas producers.

The Company acquired these businesses in three separate transactions for net cash consideration of $143,087. The following presents the allocation of acquisition cost to the assets acquired and liabilities assumed, based on their estimated fair values:



Current assets, net of cash acquired	$	30,281
Property, plant and equipment	1,550
Goodwill	83,162
Intangible assets	60,300
Current liabilities	(18,048		)
Non-current liabilities	(14,158		)
Net assets acquired	$	143,087

The amounts assigned to goodwill and major intangible asset classifications for the 2014 acquisitions are as follows:



	Amount allocated		Useful life (in years)
Goodwill - Tax deductible	$	10,755	na
Goodwill - Non deductible	72,407		na
Customer intangibles	38,697		10
Trademarks	8,462		14
Technology	2,767		10
Other intangibles	10,374		7
	$	143,462

The businesses were acquired to complement and expand upon existing operations within the Energy Segment and the Printing & Identification platform of the Engineered Systems segment. The goodwill identified by these acquisitions reflects the benefits expected to be derived from product line expansion and operational synergies. Upon consummation of the acquisitions, each of these entities is now wholly-owned by Dover.

The Company has substantially completed the purchase price allocations for the 2014 acquisitions. However, if additional information is obtained about these assets and liabilities within the measurement period (not to exceed one year from the date of acquisition), including through asset appraisals and learning more about the newly acquired businesses, the Company will refine its estimates of fair value to allocate the purchase price more accurately; however, any such revisions are not expected to be significant.

The unaudited condensed consolidated statements of earnings include the results of these businesses from the dates of acquisition. The aggregate revenue of the 2014 acquisitions included in the Company’s consolidated revenue totaled $20,800 and $36,400 for the three and six months ended June 30, 2014, respectively. The aggregate earnings of the 2014 acquisitions included in the Company’s consolidated earnings totaled $2,400 and $2,600 for the three and six months ended June 30, 2014, respectively.

Pro Forma Information

The following unaudited pro forma information illustrates the effect on the Company’s revenue and earnings from continuing operations for the three and six months ended June 30, 2014 and 2013, assuming that the 2014 and 2013 acquisitions had taken place at the beginning of the prior year. As a result, the supplemental pro forma earnings for the three and six months ended June 30, 2014 reflect adjustments to earnings from continuing operations as reported in the Unaudited Condensed Consolidated Statements of Earnings to exclude $161 and $1,109 for nonrecurring expense related to the fair value adjustments to acquisition-date inventory (after-tax) and $421 and $1,557 of acquisition-related costs (after tax) and to reflect such items in 2013. The 2014 and 2013 supplemental pro forma earnings are also adjusted to reflect the comparable impact of additional depreciation and amortization expense (net of tax) resulting from the fair value measurement of tangible and intangible assets relating to 2014 and 2013 acquisitions.



	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Revenue from continuing operations:
As reported	$	2,047,738	$	1,932,411	$	3,932,385	$	3,696,388
Pro forma	2,050,410		1,993,941		3,942,186		3,825,825
Earnings from continuing operations:
As reported	$	217,443	$	258,058	$	393,767	$	425,271
Pro forma	218,407		259,875		397,402		425,209
Basic earnings per share from continuing operations:
As reported	$	1.31	$	1.51	$	2.34	$	2.47
Pro forma	1.31		1.52		2.36		2.47
Diluted earnings per share from continuing operations:
As reported	$	1.29	$	1.49	$	2.31	$	2.44
Pro forma	1.29		1.50		2.33		2.44