2. Acquisitions

During the six months ended June 30, 2016, the Company acquired three businesses within the Fluids segment for net cash consideration of $475,236.

The following acquisitions were made during the six months ended June 30, 2016.



2016 Acquisitions
Date	Type	Company / Product Line Acquired	Location (Near)	Segment
January 7	Stock	Tokheim Group S.A.S.	Dundee, UK	Fluids
Manufacturer of fuel dispensers, retail automation systems and payment solutions.
May 25	Stock	Fairbanks Environmental LTD	Skelmersdale, UK	Fluids
Provider of monitoring and optimization software and tools centered around fuel management and on-site services.
June 13	Stock	ProGauge	Milan, Italy	Fluids
Provider of automatic tank gauge solutions, including a variety of tank probes, consoles, and related software and calibration services for service stations to measure and monitor fuel tank levels.

The following presents the allocation of acquisition cost to the assets acquired and liabilities assumed, based on their estimated fair values:



	Total
Current assets, net of cash acquired	$	101,243
Property, plant and equipment	31,240
Goodwill	301,577
Intangible assets	192,065
Other non-current assets	5,564
Current liabilities	(105,699		)
Non-current liabilities	(50,754		)
Net assets acquired	$	475,236

The amounts assigned to goodwill and major intangible asset classifications for the 2016 acquisitions are as follows:



	Amount allocated		Useful life (in years)
Goodwill - Non deductible	$	301,577	na
Customer intangibles	101,898		10
Trademarks	24,866		15
Other intangibles	65,301		10
	$	493,642

The goodwill identified by these acquisitions reflect the benefits expected to be derived from product line expansion and operational synergies. Upon consummation of the acquisitions, with the exception of a minor noncontrolling interest in the Tokheim China subsidiary, these businesses are now wholly-owned by Dover.

The Company has substantially completed the purchase price allocations for the 2016 acquisitions. As additional information is obtained about these assets and liabilities within the measurement period (not to exceed one year from the date of acquisition), the Company will refine its estimates of fair value to allocate the purchase price more accurately. Purchase price allocation adjustments may arise through working capital adjustments, asset appraisals or to reflect additional facts and circumstances in existence as of the acquisition date. Identified measurement period adjustments will be recorded, including any related impacts to net earnings, in the reporting period in which the adjustments are determined and may be significant. See Note 6 Goodwill and Other Intangible Assets for purchase price adjustments.

The unaudited Condensed Consolidated Statements of Earnings include the results of these businesses from the date of acquisition.

Pro Forma Information

The following unaudited pro forma information illustrates the impact of both 2016 and 2015 acquisitions on the Company’s revenue and earnings from continuing operations for the three and six months ended June 30, 2016 and 2015. In 2015, the Company acquired four businesses in separate transactions for net cash consideration of $567,843.

The 2016 and 2015 pro forma information assumes that the 2016 and 2015 acquisitions had taken place at the beginning of the prior year. 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 2016 and 2015 acquisitions.



	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Revenue from continuing operations:
As reported	$	1,686,345	$	1,758,628	$	3,308,618	$	3,474,129
Pro forma	1,690,286		1,884,970		3,324,674		3,725,932
Earnings from continuing operations:
As reported	$	118,290	$	155,634	$	217,646	$	272,824
Pro forma	120,556		165,251		229,031		286,930
Basic earnings per share from continuing operations:
As reported	$	0.76	$	0.98	$	1.40	$	1.70
Pro forma	0.78		1.04		1.48		1.79
Diluted earnings per share from continuing operations:
As reported	$	0.76	$	0.97	$	1.39	$	1.69
Pro forma	0.77		1.03		1.46		1.77