OXM » Topics » OXFORD INDUSTRIES, INC

This excerpt taken from the OXM 10-Q filed Jan 5, 2005.

OXFORD INDUSTRIES, INC

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

QUARTER ENDED NOVEMBER 26, 2004

 

4. Acquisitions (continued):

 

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition for the Tommy Bahama Group.

 

     ($ in thousands)  

Total purchase price

   $ 278,419  

Cash

   $ 22,145  

Accounts receivable

     29,521  

Inventories

     27,697  

Other current assets

     6,015  

Goodwill

     110,164  

Intangibles

     153,360  

Property, plant and equipment

     28,087  

Other assets

     2,470  

Current liabilities

     (45,626 )

Noncurrent liabilities

     (1,253 )

Deferred taxes

     (54,161 )
    


Fair value of net assets acquired

   $ 278,419  
    


 

These acquisitions helped us achieve one of our key strategic objectives of owning major lifestyle brands. The acquisitions provide strategic benefits through growth opportunities and further diversification of our business over distribution channels, price points, product categories and target customers. The results of operations of Ben Sherman and the Tommy Bahama Group are included in our consolidated statements of earnings from the respective dates of the acquisition.

 

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