Note 16 — Acquisitions

All of the Company’s acquisitions have been accounted for using the purchase method of accounting.

2015

During 2015, the Company acquired certain assets and liabilities of Onix Sports, Inc. and acquired all of the issued and outstanding shares of capital stock of Goalsetter Systems, Inc. for total consideration of cash and notes of approximately $10.3 million, subject to adjustments for working capital. The total working capital adjustments resulted in $0.6 million of additional consideration to the sellers.

The consideration paid by the company for these acquisitions is allocated to the assets acquired, net of the liabilities assumed, based upon their estimated fair values as of the date of the acquisition. The excess of the purchase price over the estimated fair value of the assets acquired, net of the estimated fair value of the liabilities assumed, is recorded as goodwill. The allocation of the purchase price, including values assigned to assets, liabilities and the amount of goodwill and intangible assets are represented in the table below.

In thousands
Assets acquired and liabilities assumed:
Accounts receivable	$	795
Inventories		966
Other assets		50
Goodwill		5,172
Intangible assets		6,286
Accounts payable		(271)
Other liabilities		(74)
Deferred income tax liability		(2,046)
	$	10,878

2014

On October 22, 2014, the Company acquired substantially all the business and assets of Cue & Case Sales, Inc., a leader in specialty billiard accessories. The total purchase price of $10.4 million was paid in cash. The more significant assets acquired comprised of customer lists ($4,060), inventory ($3,260), goodwill ($1,633), tradenames ($987) and receivables ($372).

2013

In November 2013, the Company acquired substantially all of the business and assets of DMI Sports, Inc. relating to DMI’s indoor games and accessories such as darts, table tennis, game tables, and billiards. Escalade believes these assets, including the acquired brands and trade names, will complement Escalade’s existing product lines in this category. Escalade did not acquire the outdoor games business conducted by DMI Sports, which business was retained by DMI Sports. The total price of $6.1 million was paid in cash. The more significant assets acquired comprised of inventory ($2,705), goodwill ($1,095), patented technology ($706), customer lists ($569), non-compete ($300) and trademarks ($210).

These acquisitions were not and would not have been material to the Company’s net sales, results of operations or total assets during the years ended December 26, 2015, December 27, 2014 and December 28, 2013, respectively. Accordingly, our consolidated results from operations do not differ materially from historical performance as a result of these acquisitions, and therefore, pro-forma results are not presented.