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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2014
Avionics Interface Technologies, LLC |
Allocation of Purchase Price | The following represents the allocation of the purchase price:
|  | Purchase Price Allocation |
|  | (in thousands) |
Goodwill |  | $ | 10,516 |
Intangible assets |  |  | 9,080 |
Tangible assets acquired and liabilities assumed: |  |  |  |
Other current assets |  |  | 2,452 |
Non-current assets |  |  | 359 |
Accounts payable and current liabilities |  |  | (1,164 | )
Total purchase price |  | $ | 21,243 |
Lists of Intangible Assets and Their Estimated Useful Lives at Acquisition Date | The following table lists these intangible assets and their estimated useful lives at the acquisition date:
|  | Fair Value |  |  | Estimated Useful Life |
|  | (in thousands) |  |  | (in years) |
Developed technology |  | $ | 2,580 |  |  |  | 4.8 |
Customer relationships |  |  | 5,630 |  |  |  | 5.0 |
Trademark |  |  | 380 |  |  |  | 5.0 |
Non-competes |  |  | 320 |  |  |  | 4.0 |
Backlog |  |  | 170 |  |  |  | 0.3 |
Total intangible assets |  | $ | 9,080 |  |  |  | 4.8 |
Pro Forma Results Under Acquisitions | The unaudited pro forma results are not necessarily indicative of what actually would have occurred had the acquisition been in effect for the periods presented:
|  | For the Year Ended |
| December 31, 2014 |  |  | December 31, 2013 |
|  | (in thousands, except per share amounts) |
Revenues |  | $ | 1,655,038 |  |  |  | 1,434,699 |
Net income |  | $ | 82,169 |  |  | $ | 164,087 |
Income per common share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.40 |  |  | $ | 0.86 |
Diluted |  | $ | 0.37 |  |  | $ | 0.70 |
ZTEC Instruments, Inc. |
Allocation of Purchase Price | The following represents the allocation of the purchase price:
|  | Purchase Price Allocation |
|  | (in thousands) |
Goodwill |  | $ | 12,520 |
Intangible assets |  |  | 4,870 |
Tangible assets acquired and liabilities assumed: |  |  |  |
Cash |  |  | 79 |
Other current assets |  |  | 1,612 |
Non-current assets |  |  | 1,757 |
Accounts payable and current liabilities |  |  | (1,811 | )
Long-term deferred tax liabilities |  |  | (1,719 | )
Total purchase price |  | $ | 17,308 |
Lists of Intangible Assets and Their Estimated Useful Lives at Acquisition Date | The following table lists these intangible assets and their estimated useful lives at the acquisition date:
|  | Fair Value |  |  | Estimated Useful Life |
|  | (in thousands) |  |  | (in years) |
Developed technology |  | $ | 3,500 |  |  |  | 5.0 |
Customer relationships |  |  | 1,370 |  |  |  | 6.0 |
Total intangible assets |  | $ | 4,870 |  |  |  | 5.3 |
Pro Forma Results Under Acquisitions | The unaudited pro forma results are not necessarily indicative of what actually would have occurred had the acquisition been in effect for the periods presented:
|  | For the Year Ended |
| December 31, 2013 |  |  | December 31, 2012 |
|  | (in thousands, except per share amounts) |
Revenues |  | $ | 1,431,270 |  |  | $ | 1,660,758 |
Net income |  | $ | 163,394 |  |  | $ | 215,654 |
Income per common share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.86 |  |  | $ | 1.15 |
Diluted |  | $ | 0.69 |  |  | $ | 0.94 |

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