Acquisitions (Tables)

6 Months Ended

Jul. 05, 2015

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