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Acquisitions
 12 Months Ended
Jun. 30, 2012
Acquisitions
Acquisitions
During 2012, the Company completed four acquisitions whose aggregate sales for their most recent fiscal year prior to acquisition were $141 million. Total purchase price for the four acquisitions was approximately $156 million in cash and $6 million in assumed debt. Also during 2012, the Company purchased the outstanding shares not previously owned by the Company in two majority-owned subsidiaries. Total purchase price for the two majority-owned subsidiaries was $147 million in cash.
During 2011, the Company completed three acquisitions whose aggregate sales for their most recent fiscal year prior to acquisition were $65 million. Total purchase price for the three acquisitions in 2011 was approximately $61 million in cash.
During 2010, the Company completed one acquisition whose aggregate sales for its most recent fiscal year prior to acquisition were $11 million. Total purchase price for this business was approximately $5 million in cash.
The results of operations for all acquisitions are included as of the respective dates of acquisition. The initial purchase price allocation and subsequent purchase price adjustments for acquisitions in 2012, 2011 and 2010 are presented below. Some of the 2012 purchase price allocations are preliminary and may require subsequent adjustment primarily to the values currently assigned to plant and equipment and intangible assets.

 
2012

 
2011

 
2010

Assets acquired:
 
 
 
 
 
Accounts receivable
$
24,833

 
$
9,332

 
$
908

Inventories
29,102

 
7,908

 
447

Prepaid expenses
1,541

 
69

 
(575
)
Deferred income taxes
5,679

 
468

 
—

Plant and equipment
28,929

 
5,376

 
408

Intangible and other assets
59,576

 
35,094

 
4,198

Goodwill
68,144

 
8,715

 
2,891

 
217,804

 
66,962

 
8,277

Liabilities assumed:
 
 
 
 
 
Notes payable
1,887

 
—

 
—

Accounts payable, trade
7,189

 
2,440

 
531

Accrued payrolls and other compensation
3,672

 
765

 
219

Accrued domestic and foreign taxes
2,882

 
215

 
(91
)
Other accrued liabilities
5,984

 
1,500

 
2,587

Long-term debt
4,365

 
—

 
—

Pensions and other postretirement benefits
11,396

 
—

 
—

Deferred income taxes
24,062

 
1,815

 
(420
)
Other liabilities
111

 
—

 
—

 
61,548

 
6,735

 
2,826

Net assets acquired
$
156,256

 
$
60,227

 
$
5,451