Acquisitions (Tables)

3 Months Ended

Mar. 31, 2012

Preliminary purchase price consideration components

The Datac and Realflex acquisition was recorded using the acquisition method of accounting, and accordingly, the acquired operations have been included in the results of operations since the date of acquisition. The preliminary purchase price consideration consists of the following (in thousands of dollars):

Cash paid at closing, net	$	18,586
Common stock paid at closing		8,414

Total consideration paid	$	27,000

The Zenith acquisition was recorded using the acquisition method of accounting, and accordingly, the acquired operations have been included in the results of operations since the date of acquisition. The preliminary purchase price consideration consists of the following (in thousands of dollars):

Cash paid at closing, net	$	133,972

Total consideration paid	$	133,972

Preliminary purchase price allocation to net assets acquired

The following table indicates (in thousands of dollars) the preliminary purchase price allocation to net assets acquired, which was based on estimated fair values as of the acquisition date. The excess of the purchase price over the net assets acquired, which totaled $20.4 million, was recorded as goodwill in the Company's consolidated balance sheet in the Oilfield segment. Based on the structure of the transaction, the majority of the goodwill related to the transaction is not expected to be deductible for tax purposes.

Purchase price	$	27,000

Receivables		323
Inventories		449
Other current assets		82
Property, plant and equipment		34
Non-compete agreements and trademarks		350
Customer relationships and contracts		5,983
Indemnification asset		5,500
Accounts payable		(136	)
Other accrued liabilities		(484	)
Uncertain tax liabilities		(5,500	)

Goodwill recorded	$	20,399

The following table indicates (in thousands of dollars) the preliminary purchase price allocation to net assets acquired, which was based on estimated fair values as of the acquisition date. The excess of the purchase price over the net assets acquired, which totaled $77.9 million, was recorded as goodwill in the Company's consolidated balance sheet in the Oilfield segment. Based on the structure of the transaction, the majority of the goodwill related to the transaction is not expected to be deductible for tax purposes.

Purchase price	$	133,972

Receivables		13,236
Inventories		4,226
Other current assets		7,711
Property, plant and equipment		518
Non-compete agreements and trademarks		3,614
Customer relationships and contracts		32,665
Other long term assets		355
Accounts payable		(3,698	)
Other accrued liabilities		(2,554	)

Goodwill recorded	$	77,899