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Acquisitions and Investment in Other Company (Tables)

12 Months Ended

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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- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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