Annual report pursuant to Section 13 and 15(d)

Basis of Presentation (Tables)

v3.3.1.900
Basis of Presentation (Tables)
 12 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Fair Value of Acquired Assets and Assumed Liabilities to Total Purchase Price
The following table reconciles the fair value of the acquired assets and assumed liabilities to the total purchase price:
 
Amount
Fair value of consideration transferred
$
1,399,055

Cash
$
28,695

Accounts Receivable
113,030

Inventory
187,509

Other current assets
25,224

Property and equipment
117,336

Goodwill
624,870

Intangible assets
822,620

Other non-current assets
3,481

Total assets
1,922,765

Less:
 
Accounts payable
(65,009
)
Deferred income taxes
(275,957
)
Junior subordinated debentures
(105,443
)
Junior subordinated debentures premium
(22,437
)
Other liabilities
(54,864
)
Net assets
$
1,399,055

The following table reconciles the estimated fair value of the acquired assets and assumed liabilities to the total purchase price of the Paulin Acquisition:
 
 
Accounts receivable
$
17,259

Inventory
55,552

Other current assets
2,701

Property and equipment
16,121

Goodwill
11,687

Intangibles
18,967

Total assets acquired
122,287

Less:
 
Deferred income taxes
(5,437
)
Liabilities assumed
(13,434
)
Total purchase price
$
103,416

Summary of Pro Forma Financial Statements of Company
The following table indicates the pro-forma financial statements of the Company for the years ended December 31, 2015, 2014 (including transaction costs of $54,657 as discussed in Note 22), and 2013. The pro-forma financial statements give effect to the acquisition (the “Paulin Acquisition”), on February 19, 2013, of all of the issued and outstanding Class A common shares of H. Paulin & Co., Limited (“Paulin”) and the Merger Transaction as if they had each occurred on January 1, 2013.
 
2015
 
2014
 
2013
Net Sales
$
786,911

 
$
734,669

 
$
717,571

Net Loss
(23,083
)
 
(4,863
)
 
(60,339
)