Correction of Immaterial Errors To Prior Period Financial Statements (Tables)

6 Months Ended

Dec. 31, 2016

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)



	Three Months Ended December 31, 2015
	As Reported		Adjustment			As Revised
Net sales	$	752,589	$	(9,152	)	$	743,437
Cost of sales	575,026		2,150			577,176
Gross profit	177,563		(11,302		)	166,261
Selling, general and administrative expenses	82,607		(13,626		)	68,981
Amortization of acquired intangibles	4,736		(32		)	4,704
Acquisition related expenses, restructuring and integration charges and other	2,498		—			2,498
Operating income	87,722		2,356			90,078
Interest and other financing expense, net	6,300		—			6,300
Other (income)/expense, net	3,065		—			3,065
Income before income taxes and equity in earnings of equity- method investees	78,357		2,356			80,713
Provision for income taxes	21,379		1,223			22,602
Equity in net loss of equity-method investees	31		—			31
Net income	$	56,947	$	1,133		$	58,080

Net income per common share:
Basic	$	0.55	$	0.01		$	0.56
Diluted	$	0.55	$	0.01		$	0.56

Weighted average common shares outstanding:
Basic	103,017		103,017			103,017
Diluted	104,161		104,161			104,161

* Net income per common share may not add in certain periods due to rounding



	Six Months Ended December 31, 2015
	As Reported			Adjustment			As Revised
Net sales	$	1,439,777		$	(28,613	)	$	1,411,164
Cost of sales	1,110,167			(3,145		)	1,107,022
Gross profit	329,610			(25,468		)	304,142
Selling, general and administrative expenses	168,861			(24,330		)	144,531
Amortization/impairment of acquired intangibles	9,408			(65		)	9,343
Acquisition related expenses, restructuring and integration charges and other	6,151			(233		)	5,918
Operating income	145,190			(840		)	144,350
Interest and other financing expense, net	12,767			—			12,767
Other (income)/expense, net	8,466			—			8,466
Income before income taxes and equity in earnings of equity- method investees	123,957			(840		)	123,117
Provision for income taxes	35,761			171			35,932
Equity in net income of equity-method investees	(53		)	—			(53		)
Net income	$	88,249		$	(1,011	)	$	87,238

Net income per common share:
Basic	$	0.86		$	(0.01	)	$	0.85
Diluted	$	0.85		$	(0.01	)	$	0.84

Weighted average common shares outstanding:
Basic	102,912			102,912			102,912
Diluted	104,209			104,209			104,209

* Net income per common share may not add in certain periods due to rounding

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)



	Three Months Ended December 31, 2015								Six Months Ended December 31, 2015
	As Reported			Adjustment		As Revised			As Reported			Adjustment			As Revised

Net income	$	56,947		$	1,133	$	58,080		$	88,249		$	(1,011	)	$	87,238

Other comprehensive income (loss):
Foreign currency translation adjustments	$	(25,791	)	$	136	(25,655		)	$	(66,084	)	497			(65,587		)
Change in deferred gains (losses) on cash flow hedging instruments	(296		)	—		(296		)	1,045			—			1,045
Change in unrealized gain (loss) on available for sale investment	24			—		24			(132		)	—			(132		)
Total other comprehensive income (loss)	$	(26,063	)	$	136	$	(25,927	)	$	(65,171	)	$	497		$	(64,674	)

Total comprehensive income	$	30,884		$	1,269	$	32,153		$	23,078		$	(514	)	$	22,564

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)



	Six Months Ended December 31, 2015
	As Reported			Adjustment			As Revised
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	88,249		$	(1,011	)	$	87,238
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	31,409			381			31,790
Deferred income taxes	(8,693		)	(155		)	(8,848		)
Equity in net income of equity-method investees	(53		)	—			(53		)
Stock based compensation	7,229			—			7,229
Other non-cash items, including unrealized currency (gains)/loss, net	7,812			—			7,812
Increase (decrease) in cash attributable to changes in operating assets and liabilities, net of amounts applicable to acquisitions:
Accounts receivable	(17,231		)	(1,181		)	(18,412		)
Inventories	(20,891		)	2,598			(18,293		)
Other current assets	5,336			20,811			26,147
Other assets and liabilities	2,187			—			2,187
Accounts payable and accrued expenses	4,290			(21,443		)	(17,153		)
Net cash provided by operating activities	$	99,644		$	—		$	99,644

SEGMENT NET SALES AND OPERATING INCOME (UNAUDITED)

⁽¹⁾ The information previously reported for the three months ended December 31, 2015 has been adjusted to reflect the Company’s

new operating and reporting structure effective in the first quarter of fiscal 2017. See Note 1, Business, and Note 16, Segment

Information, for additional details surrounding the formation of Cultivate.

⁽¹⁾ The information previously reported for the six months ended December 31, 2015 has been adjusted to reflect the Company’s

new operating and reporting structure effective in the first quarter of fiscal 2017. See Note 1, Business, and Note 16, Segment

Information, for additional details surrounding the formation of Cultivate.