Acquisitions (Tables)

9 Months Ended

Sep. 30, 2020

Summary of Purchase Price and Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the purchase price and the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands):

Purchase price net of cash and cash equivalents acquired				$	660,925
Fair value of net assets acquired:
Current assets	$	531,941
Identifiable intangible assets - see description below		191,370
Property and equipment		91,213
Other assets		32,699
Current liabilities		(369,183	)
Long-term liabilities, including deferred taxes		(71,009	)
Total fair value of net assets acquired					407,031
Excess purchase price over fair value of net assets acquired ("goodwill")				$	253,894

Summary of Pro Forma Information

The following table reports pro forma information as if the acquisition of PCM had been completed at the beginning of the earliest period presented (in thousands, except per share amounts):

		Three Months Ended September 30,		Nine Months Ended September 30,
		2019		2019
Net sales	As reported	$	1,912,547	$	5,434,034
	Pro forma	$	2,322,828	$	6,910,356
Net earnings	As reported	$	27,132	$	116,457
	Pro forma	$	24,678	$	115,321
Diluted earnings per share	As reported	$	0.76	$	3.23
	Pro forma	$	0.69	$	3.20