Acquisitions (Tables)

6 Months Ended

Jun. 30, 2014

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

Schedule of acquired intangible assets

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

Pro forma results of operations

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