Note 3. Acquisitions M Cubed Technologies, Inc. On November 1, 2012, the Company acquired all of the outstanding shares of M Cubed Technologies, Inc. ( M Cubed ), a privately-held company based in Connecticut with manufacturing locations in Monroe and Newtown, Connecticut, and Newark, Delaware. The total consideration consisted of cash of $68.2 million, net of cash acquired of $5.7 million. M Cubed develops advanced ceramic materials and precision motion control products addressing the semiconductor, display, industrial and defense markets. M Cubed is a business unit of the Company s Advanced Products Group operating segment for financial reporting purposes. Due to the timing of the acquisition, the Company is still in the process of completing its fair market valuation, including the valuation of certain tangible and intangible assets as well as deferred income taxes. The following table presents the preliminary allocation of the purchase price of the assets acquired and liabilities assumed at the date of acquisition, as the Company intends to finalize its accounting for the acquisition of M Cubed during fiscal year 2013 ($000): Assets Accounts receivable, net $ 7,424 Inventories 4,696 Prepaid and other assets 518 Deferred income taxes 21,089 Property, plant &amp; equipment 17,769 Intangible assets 23,400 Goodwill 11,774 Total assets acquired $ 86,670 Liabilities Accounts payable $ 2,807 Deferred income taxes 14,834 Other accrued liabilities 864 Total liabilities assumed $ 18,505 Net assets acquired $ 68,165 The goodwill of M Cubed of $11.8 million is included in the Advanced Products Group segment and is attributed to the expected synergies and the assembled workforce of M Cubed. None of the goodwill is deductible for income tax purposes. The fair value of accounts receivable acquired was $7.4 million with the gross contractual amount being $7.5 million. At the time of acquisition, the Company expected $0.1 million of accounts receivable to be uncollectible. The majority of the deferred tax assets of M Cubed ar