Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

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



	Total
Current assets, net of cash acquired	$	364,018
Property, plant and equipment	154,762
Goodwill	908,313
Intangible assets	621,651
Other assets	21,402
Current liabilities assumed	(276,675		)
Other liabilities assumed	(231,734		)
Net assets acquired	$	1,561,737

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



	Total
Current assets, net of cash acquired	$	76,323
Property, plant and equipment	38,849
Goodwill	315,701
Intangible assets	229,829
Other assets	1,934
Current liabilities assumed	(31,814		)
Other liabilities assumed	(62,979		)
Net assets acquired	$	567,843

Schedule Of Acquired Intangible Assets By Major Class Text Block [Table Text Block]

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



	Engineered Systems		Fluids		Total		Average Useful life (in years)
Goodwill - non deductible	$	126,140	$	782,173	$	908,313	n/a
Customer intangibles	98,182		316,116		414,298		8-14
Trademarks	12,012		88,507		100,519		11-15
Patents	13,682		23,000		36,682		7-11
Other intangibles and assets	528		69,624		70,152		4-11
	$	250,544	$	1,279,420	$	1,529,964

Pro forma results of operations

The following unaudited pro forma results of operations reflect the 2016 acquisitions as if they had occurred on January 1, 2015 and the 2015 acquisitions as if they had occurred on January 1, 2014. The pro-forma information is not necessarily indicative of the results that actually would have occurred nor does it indicate future operating results. The supplemental pro forma earnings reflect adjustments to earnings from continuing operations as reported in the Consolidated Statements of Earnings to exclude $11,439 of nonrecurring expense related to the fair value adjustments to acquisition-date inventory (after-tax) and $14,674 of acquisition-related costs (after-tax) from the year ended December 31, 2016. The supplemental pro forma earnings for the 2015 period were similarly adjusted for 2015 acquisitions charges as if incurred at the beginning of 2014. The 2016 and 2015 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 2016 and 2015 acquisitions.



	Years Ended December 31,
	2016		2015
Revenue from continuing operations:
As reported	$	6,794,342	$	6,956,311
Pro forma	7,473,048		8,130,560
Earnings from continuing operations:
As reported	$	508,892	$	595,881
Pro forma	555,968		627,196
Basic earnings per share from continuing operations:
As reported	$	3.28	$	3.78
Pro forma	3.58		3.98
Diluted earnings per share from continuing operations:
As reported	$	3.25	$	3.74
Pro forma	3.55		3.94