Acquisition of RSI Home Products, Inc. (the "RSI Acquisition") (Tables)

9 Months Ended

Jan. 31, 2018

Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the preliminary purchase price as of the Acquisition Date, which is based on the accounting consideration of $553.2 million, to the estimated fair value of assets acquired and liabilities assumed (in thousands):



Goodwill	$	765,743
Customer relationship intangibles		274,000
Property, plant and equipment		87,064
Inventories		66,293
Customer receivables		54,649
Income taxes receivable		18,450
Trademarks		10,000
Prepaid expenses and other		4,571
Leasehold interests		151
Total identifiable assets and goodwill acquired		1,280,921

Debt		602,313
Deferred income taxes		67,478
Accrued expenses		29,777
Accounts payable		25,113
Notes payable		2,988
Income taxes payable		49
Total liabilities assumed		727,718

Total accounting consideration	$	553,203

Supplemental Pro Forma Financial Information

The following table presents summarized unaudited pro forma financial information as if RSI had been included in the Company’s financial results for the entire nine months ended January 31, 2018 and 2017:



	Nine months ended
	January 31,
(in thousands)	2018		2017
Net Sales	$	1,207,775	$	1,213,604
Net Income (1)	$	45,812	$	71,945
Net earnings per share - basic	$	2.60	$	4.06
Net earnings per share - diluted	$	2.58	$	4.03

(1) Includes stock compensation expense of $17.5 million and $2.6 million for the nine months ended January 31, 2018 and 2017, respectively, calculated under the intrinsic value method in measuring stock-based liability awards related to stock-based grants made by RSI prior to the RSI Acquisition.