Acquisitions and Divestiture (Tables)

12 Months Ended

Jun. 30, 2017

Initial purchase price allocation and subsequent purchase price adjustments for acquisitions

The initial purchase price allocation and subsequent purchase price adjustments for acquisitions in 2017, 2016 and 2015 are as follows.



	2017		2016		2015
Assets:
Accounts receivable	$	263,616	$	6,793	$	7,656
Inventories	302,422		12,041		3,099
Prepaid expenses	18,342		1,350		91
Deferred income taxes	4,658		—		5
Plant and equipment	376,826		5,647		1,123
Intangible and other assets	1,526,909		26,849		7,794
Goodwill	2,677,489		31,134		10,430
	5,170,262		83,814		30,198
Liabilities:
Notes payable	20,162		720		—
Accounts payable, trade	84,753		2,536		2,689
Accrued payrolls and other compensation	45,942		1,310		243
Accrued domestic and foreign taxes	5,435		604		777
Other accrued liabilities	80,515		1,804		5,267
Long-term debt	296,240		1,743		—
Pensions and other postretirement benefits	33,929		—		—
Deferred income taxes	520,389		7,545		2,604
Other liabilities	11,878		—		—
Noncontrolling interests	1,822		—		—
	1,101,065		16,262		11,580
Net assets acquired	$	4,069,197	$	67,552	$	18,618

Business acquisition, pro forma information

The following unaudited pro forma information gives effect to the Company's acquisition of Clarcor as if the acquisition had occurred on July 1, 2015, and Clarcor had been included in the Company's results of operations for 2017 and 2016.



	2017		2016
Net sales	$	12,935,834	$	12,772,097
Net income attributable to common shareholders	1,027,693		748,634
Diluted earnings per share	7.58		5.47