Business Acquisitions On May 18, 2015, the Company purchased Kay Flo Industries, Inc. and certain subsidiaries. The Company acquired 100% of the outstanding shares of Kay Flo Industries, Inc. In connection with the acquisition, the Company agreed to pay contingent consideration based on the achievement of specified objectives, including reaching targeted gross profit thresholds. The range of undiscounted amounts the Company could be required to pay under the contingent consideration arrangement is between $0 and $24 million . The total fair value of consideration for the acquisitions is $125.5 million , including working capital. Included is $0.4 million in estimated fair value of the contingent consideration arrangement. The Company has funded this transaction with long-term debt, short-term debt, and cash on hand. The debt has been drawn from the Company's existing line of credit. The purchase price allocation has been adjusted from the prior period for additional working capital payments to the sellers of $0.3 million . The purchase price allocation is preliminary and is subject to final working capital adjustments with the sellers in the fourth quarter. The allocation is summarized below: (in thousands) Cash $ 880 Accounts receivable 14,699 Inventory 25,094 Other assets 6,155 Intangibles 53,091 Goodwill 45,706 Property, plant, and equipment 27,478 Accounts payable (17,075 ) Other current liabilities (4,521 ) Other non-current liabilities (26,035 ) Total purchase price $ 125,472 The goodwill recognized as a result of the Kay Flo Industries, Inc. acquisition is $45.7 million and is allocated to the Plant Nutrient segment. The goodwill is not deductible for tax purposes. The goodwill recognized is primarily attributable to expansion of the segment's geographic range and the ability to realize synergies from the combination of product lines and marketing efforts. Details of the intangible assets acquired are as follows: (in thousands) Fair Value Useful Life Unpatented technology $ 13,400 10 years Customer relatio