Business Acquisitions and Investments (Tables)
 3 Months Ended
Mar. 01, 2014
Business Combinations [Abstract]  
Summary of estimated fair values of assets and liabilities assumed during acquisition
The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition of CLARCOR Industrial Air:

Accounts receivable
$
30,171

Inventories
41,959

Other current assets
1,059

Plant assets
22,784

Goodwill
72,697

Intangible assets
133,020

 
Total assets acquired
301,690

Total liabilities
43,984

 
Net assets acquired
$
257,706
Schedule of intangible assets acquired
A summary of the intangible assets acquired, weighted-average useful lives and amortization methods is shown in the following table:
 
Estimated
Weighted average
Amortization
Identifiable intangible assets
Value
Useful life
Method
Trade names
$
35,100

Indefinite
Not amortized
Customer relationships
77,300

13 years
Straight-line
Developed technology
19,900

13 years
Straight-line
GE Transitional Trademark License
50

Less than 1 Year
Accelerated
Backlog
670

Less than 1 Year
Accelerated
 
$
133,020

 
 
Schedule of pro forma information
 
Three Months Ended
Three Months Ended
 
March 1, 2014
March 2, 2013
 
As reported
Pro forma
As reported
Pro forma
Net sales
$
312,685

$
328,112

$
256,271

$
307,335

Operating profit
31,266

39,020

33,815

26,761

Net earnings attributable to CLARCOR
24,321

30,085

23,462

18,157

Diluted earnings per share
$
0.48

$
0.59

$
0.47

$
0.36