ACQUISITION OF PERFORMANCE CHEMICALS & INGREDIENTS COMPANY (Tables)

6 Months Ended

Jun. 30, 2014

ACQUISITION OF PERFORMANCE CHEMICALS & INGREDIENTS COMPANY [Abstract]

Estimated fair values of the assets acquired and liabilities assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed.

Cash and cash equivalents	$	2,635
Accounts receivable, net		25,674
Inventories		32,000
Property, plant and equipment, net		75,850
Customer relationships		130,300
Trade names		31,100
Developed technology		3,200
Other assets		3,955
Indemnification asset		1,650
Trade accounts payable		(10,427	)
Accrued expenses		(6,326	)
Deferred income taxes		(77,500	)
Goodwill		357,131
Total purchase price	$	569,242

Acquisition of unaudited pro forma information

The following unaudited pro forma information has been prepared as if the acquisition had occurred on January 1, 2013.

	Three Months Ended June 30,					Six Months Ended June 30,
	Net Sales		Net Earnings			Net Sales		Net Earnings
SensoryEffects actual results included in the Company’s consolidated income statement from May 7, 2014 through June 30, 2014	$	36,395	$	(457	)	$	36,395	$	(457	)
2014 Supplemental pro forma combined financial information	$	157,635	$	14,726		$	302,242	$	26,483
Basic earnings per share			$	.49				$	.88
Diluted earnings per share			$	.47				$	.85
2013 Supplemental pro forma combined financial information	$	130,248	$	11,115		$	264,164	$	21,227
Basic earnings per share			$	.38				$	.72
Diluted earnings per share			$	.36				$	.69