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Acquisitions and Investment in Other Company (Tables) | 12 Months Ended
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Dec. 31, 2020
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:
|  | December 31, 2019 |  |  | December 31, 2018 |
|  | (in thousands, except per share amount) |
Revenues |  | $ | 2,303,737 |  |  | $ | 2,111,373 |
Net income |  | $ | 464,602 |  |  | $ | 442,082 |
Net income per common share: |  |  |  |  |  |  |  |
Basic |  | $ | 2.73 |  |  | $ | 2.36 |
Diluted |  | $ | 2.59 |  |  | $ | 2.30 |
Mobile Industrial Robots (MiR) |
Final Allocation of Purchase Price | The following table represents the final allocation of the purchase price:
|  | Purchase Price Allocation |
|  | (in thousands) |
Goodwill |  | $ | 135,976 |
Intangible assets |  |  | 80,670 |
Tangible assets acquired and liabilities assumed: |  |  |  |
Current assets |  |  | 6,039 |
Non-current assets |  |  | 1,336 |
Accounts payable and current liabilities |  |  | (7,336 | )
Long-term deferred tax liabilities |  |  | (18,007 | )
Other long-term liabilities |  |  | (900 | )
Total purchase price |  | $ | 197,778 |
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 |  | $ | 58,900 |  |  |  | 7.0 |
Trademarks and tradenames |  |  | 13,240 |  |  |  | 11.0 |
Customer relationships |  |  | 8,500 |  |  |  | 2.5 |
Backlog |  |  | 30 |  |  |  | 0.2 |
Total intangible assets |  | $ | 80,670 |  |  |  | 7.2 |
Autoguide LLC [Member] |
Final Allocation of Purchase Price | The following table represents the final allocation of the purchase price:
|  | Purchase Price Allocation |
|  | (in thousands) |
Goodwill |  | $ | 41,223 |
Intangible assets |  |  | 37,660 |
Tangible assets acquired and liabilities assumed: |  |  |  |
Other current assets |  |  | 3,661 |
Non-current assets |  |  | 1,227 |
Accounts payable and current liabilities |  |  | (1,223 | )
Long-term other liabilities |  |  | (949 | )
Total purchase price |  | $ | 81,599 |
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 |  | $ | 24,590 |  |  |  | 6.0 |
Customer relationships |  |  | 7,360 |  |  |  | 6.0 |
Trademarks and tradenames |  |  | 5,450 |  |  |  | 7.0 |
Backlog |  |  | 260 |  |  |  | 0.3 |
Total intangible assets |  | $ | 37,660 |  |  |  | 6.1 |

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