ACQUISITIONS AND INVESTMENTS (Tables)

6 Months Ended

Jun. 27, 2020

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated acquisition date value of identifiable net assets acquired and liabilities assumed:


(Millions of Dollars)
Cash and cash equivalents	$	35.9
Accounts receivable, net	48.6
Inventories, net	127.6
Prepaid expenses and other assets	2.7
Property, plant and equipment	132.6
Trade names	25.0
Customer relationships	565.0
Accounts payable	(26.3)
Accrued expenses	(20.9)
Deferred taxes	(19.4)
Other liabilities	(0.6)
Total identifiable net assets	$	870.2
Goodwill	621.5
Contingent consideration	(155.3)
Total consideration paid	$	1,336.4

Actual Impact from Acquisition

The net sales and net loss from the 2020 acquisition included in the Company's Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 27, 2020 are shown in the table below. The net loss includes amortization relating to intangible assets recorded upon acquisition, inventory step-up charges, transaction costs, and other integration-related costs.


(Millions of Dollars)	Second Quarter 2020		Year-to-Date 2020
Net sales	$	65.3	$	98.4
Net loss attributable to common shareowners	$	(30.6)	$	(51.4)

Pro-forma Impact from Acquisitions

The following table presents supplemental pro-forma information as if the 2020 acquisition had occurred on December 30, 2018 and the 2019 acquisitions had occurred on December 31, 2017. The pro-forma consolidated results are not necessarily indicative of what the Company’s consolidated net sales and net earnings would have been had the Company completed the acquisitions on the aforementioned dates. In addition, the pro-forma consolidated results do not purport to project the future results of the Company.


	Second Quarter						Year-to-Date
(Millions of Dollars, except per share amounts)	2020		2019		2020		2019
Net sales	$	3,147.4	$	3,854.5	$	6,322.8	$	7,357.4
Net earnings attributable to common shareowners	$	251.3	$	350.3	$	399.2	$	504.9
Diluted earnings per share	$	1.63	$	2.33	$	2.60	$	3.36