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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

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