During the fourth quarter of 2017, the company obtained an updated valuation of the identifiable assets acquired and the liabilities assumed. The following is the preliminary allocation of the purchase price:

(Dollars in thousands)

Estimated purchase price


Cash consideration	$	703,000

*Non-controlling interest*		63,200

*Preliminary purchase price allocation*
Cash and cash equivalents		12,296
Accounts receivable		60,580
Inventories		83,901
Prepaid expenses and other current assets		11,859

Total current assets		168,636
Property and equipment		259,784
Intangible assets ⁽¹⁾		205,000
Goodwill		286,249
Other assets		32,987

Total assets acquired		952,656

Accounts payable		61,883
Other current liabilities		40,903

Total current liabilities		102,786
Other long-term liabilities		83,670

Total liabilities assumed		186,456

*Net assets acquired*	$	766,200

(1)

Intangible assets are recorded at estimated fair value, as determined by management based on available information which includes a preliminary valuation prepared by an independent third party. The fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty and multi-period excess earnings methods. The major assumptions used in arriving at the estimated identifiable intangible asset values included management’s estimates of future cash flows, discounted at an appropriate rate of return which are based on the weighted average cost of capital for both the company and other market participants. The useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to future cash flows. The estimated fair value of intangible assets and related useful lives as included in the preliminary purchase price allocation include:


	Estimated Fair Value		Estimated Useful Life (in Years)
(Dollars in thousands)
Brand name	$	9,000		5-6
Technology		15,000		4-6
Customer relationships		167,000		6-11
Trade names		14,000		Indefinite

	$	205,000