Acquisitions Acquisition Purchase Price Allocation (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Purchase Price Allocation [Table Text Block]

The allocation of the purchase price and the estimated goodwill, which is not deductible for income tax purposes, and other intangibles are as follows:



	Novel		Jamco
Assets acquired:
Current assets, excluding cash acquired	$	11,884	$	5,019
Property, plant & equipment	13,636		2,559
Other long-term assets	6,944		5,711
Assets acquired, less cash	$	32,464	$	13,289

Liabilities assumed:
Current liabilities	$	6,742	$	2,112
Debt	26,028		—
Long-term liabilities	6,097		3,498
Total liabilities assumed	38,867		5,610
Goodwill	9,832		7,435
Total consideration, less cash acquired	$	3,429	$	15,114

Pro forma information

The following unaudited pro forma information presents a summary of consolidated results of operations for the Company including Novel and Jamco as if the acquisitions had occurred on January 1, 2012.



	2012
Net sales	$	820,649
Cost of sales	596,178
Gross profit	224,471
Selling, general & administrative expenses	168,794
Operating income	55,677
Interest expense, net	7,333
Income before taxes	48,344
Income taxes	17,784
Net income	$	30,560

Income per basic share	$	0.91
Income per diluted share	$	0.90