ACQUISITION OF PERFORMANCE CHEMICALS & INGREDIENTS COMPANY (Tables)

3 Months Ended

Mar. 31, 2015

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		25,674
Inventories		32,000
Property, plant and equipment		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	)
Bank debt		(75,550	)
Deferred income taxes		(75,760	)
Goodwill		355,391
Amount paid to shareholders		493,692
SensoryEffects bank debt paid on purchase date		75,550
Total amount paid on acquisition date	$	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 March 31, 2015				Three Months Ended March 31, 2014
	Net Sales		Net Earnings		Net Sales		Net Earnings
SensoryEffects actual results included in the Company’s consolidated income statement from January 1, 2015 through March 31, 2015	$	54,540	$	2,906	$	-0-	$	-0-
Supplemental pro forma combined financial information	$	144,862	$	15,172	$	144,607	$	11,852
Basic earnings per share			$	0.49			$	0.39
Diluted earnings per share			$	0.48			$	0.38