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Acquisitions (Tables) | 6 Months Ended
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Jul. 05, 2015
Avionics Interface Technologies, LLC |
Allocation of Purchase Price | The following table represents the final allocation of the purchase price:
|  | Purchase Price Allocation |
|  | (in thousands) |
Goodwill |  | $ | 10,516 |
Intangible assets |  |  | 9,080 |
Tangible assets acquired and liabilities assumed: |  |  |  |
Current assets |  |  | 2,452 |
Non-current assets |  |  | 359 |
Accounts payable and current liabilities |  |  | (1,164 | )
Total purchase price |  | $ | 21,243 |
Components of Intangible Assets and Their Estimated Useful Lives at Acquisition Date | Components of these intangible assets and their estimated useful lives at the acquisition date are as follows:
|  | Fair Value |  |  | Estimated Useful Life |
|  | (in thousands) |  |  | (in years) |
Customer relationships |  | $ | 5,630 |  |  |  | 5.0 |
Developed technology |  |  | 2,580 |  |  |  | 4.8 |
Trademarks and tradenames |  |  | 380 |  |  |  | 5.0 |
Non-compete agreement |  |  | 320 |  |  |  | 4.0 |
Customer order 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 Three Months Ended |  |  | For the Six Months Ended |
|  | July 5, 2015 |  |  | June 29, 2014 |  |  | July 5, 2015 |  |  | June 29, 2014 |
Revenue |  | $ | 520,217 |  |  | $ | 533,578 |  |  | $ | 873,188 |  |  | $ | 861,774 |
Net income |  |  | 99,719 |  |  |  | 94,138 |  |  |  | 126,644 |  |  |  | 86,362 |
Net income per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.47 |  |  | $ | 0.48 |  |  | $ | 0.54 |  |  | $ | 0.45 |
Diluted |  | $ | 0.46 |  |  | $ | 0.43 |  |  | $ | 0.58 |  |  | $ | 0.38 |
Universal Robots |
Allocation of Purchase Price | The following table represents the preliminary allocation of the purchase price:
|  | Purchase Price Allocation |
|  | (in thousands) |
Goodwill |  | $ | 226,501 |
Intangible assets |  |  | 119,950 |
Tangible assets acquired and liabilities assumed: |  |  |  |
Current assets |  |  | 10,853 |
Non-current assets |  |  | 3,415 |
Accounts payable and current liabilities |  |  | (11,453 | )
Long-term deferred tax liabilities |  |  | (25,736 | )
Long-term other liabilities |  |  | (5,844 | )
Total purchase price |  | $ | 317,686 |
Components of Intangible Assets and Their Estimated Useful Lives at Acquisition Date | Components of these intangible assets and their estimated useful lives at the acquisition date are as follows:
|  | Fair Value |  |  | Estimated Useful Life |
|  | (in thousands) |  |  | (in years) |
Developed technology |  | $ | 88,890 |  |  |  | 4.9 |
Trademarks and tradenames |  |  | 21,680 |  |  |  | 10.0 |
Customer relationships |  |  | 9,380 |  |  |  | 2.0 |
Total intangible assets |  | $ | 119,950 |  |  |  | 5.6 |

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