Acquisitions (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the SMC assets acquired and liabilities assumed at the date of acquisition:


(In millions)	May 20, 2019
Current assets (including cash of $2.1 million)	$	10.5
Property, plant and equipment and other noncurrent assets	1.3
Customer relationships	9.6
Acquired technology	1.4
Goodwill	19.9
Total assets acquired	42.7
Total liabilities assumed	6.5
Net assets acquired	$	36.2

Schedule of Pro Forma Financial Information

The following unaudited pro forma information presents our combined results as if the SMC acquisition had occurred on January 1, 2019. The unaudited pro forma financial information was prepared to give effect to events that are (1) directly attributable to the acquisition; (2) factually supportable; and (3) expected to have a continuing impact on the combined company’s results. There were no material transactions between MSA and SMC during the period presented that are required to be eliminated. Intercompany transactions between SMC companies during the periods presented have been eliminated in the unaudited pro forma combined financial information. The unaudited pro forma financial information does not reflect any cost savings, operating synergies or revenue enhancements that the combined companies may achieve as a result of the acquisitions or the costs to integrate the operations or the costs necessary to achieve cost savings, operating synergies or revenue enhancements.


(In millions, except per share amounts)	Three months ended June 30, 2019		Six months ended June 30, 2019
Net sales	$	352.4	$	684.0
Net income	38.7		62.0
Basic earnings per share	1.00		1.61
Diluted earnings per share	0.99		1.58