Business Combinations Acquisition of The Dumont Company, Inc. : On October 20, 2014, we acquired substantially all of the assets of The Dumont Company, Inc. ( Dumont ) under the terms of an asset purchase agreement with Dumont and its shareholders. We paid $10.1 million in cash including a working capital adjustment in the third quarter of fiscal 2015, using available cash on hand to fund the acquisition. Dumont was a water treatment chemical distribution company with revenues of approximately $14.0 million in calendar year 2013. Through this acquisition we added seven operating locations across Florida. The results of operations since the acquisition date, and the assets, including the goodwill associated with this acquisition, are included in our Water Treatment segment. Costs associated with this transaction were not material to our company and were expensed as incurred. The acquisition has been accounted for under the acquisition method of accounting, under which the total purchase price is allocated to the net tangible and intangible assets of Dumont acquired in connection with the acquisition based on their estimated fair values. We estimated the fair values of the assets acquired and liabilities assumed using a discounted cash flow analysis (income approach). The following table summarizes the preliminary allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of the Dumont acquisition: (In thousands) Amount Accounts receivable $ 1,358 Inventory 859 Other assets 159 Property, plant, and equipment 702 Intangible assets 3,509 Current liabilities (877 ) Net assets acquired 5,710 Goodwill 4,358 Total purchase price $ 10,068 The goodwill recognized as a result of this acquisition is primarily attributable to strategic and synergistic benefits, as well as the assembled workforce. Such goodwill is expected to be deductible for tax purposes. The preliminary allocation of the purchase price to the assets acquired and liabilities assumed resulted in the