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Business Acquisitions (Tables) - Microsemi Corporation | 3 Months Ended
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Jun. 30, 2018
Business Acquisition [Line Items] |
Schedule of recognized identified assets acquired and liabilities assumed | The table below represents the preliminary allocation of the purchase price to the net assets acquired based on their estimated fair values, as well as the associated estimated useful lives of the acquired intangible assets (in millions).
| May 29, 2018
Assets acquired |
Cash and cash equivalents | $ | 340.0 |
Accounts receivable | 216.1 |
Inventories | 716.8 |
Prepaid expenses and other current assets | 66.6 |
Property, plant and equipment | 241.2 |
Goodwill | 4,974.2 |
Purchased intangible assets | 4,722.0 |
Long-term deferred tax assets | 19.2 |
Other assets | 101.2 |
Total assets acquired | 11,397.3 |
Liabilities assumed |
Accounts payable | (226.9 | )
Other current liabilities | (174.8 | )
Long-term debt | (2,056.9 | )
Deferred tax liabilities | (545.7 | )
Long-term income tax payable | (101.6 | )
Other long-term liabilities | (46.3 | )
Total liabilities assumed | (3,152.2 | )
Purchase price allocated | $ | 8,245.1 |
Finite-lived and indefinite-lived intangible assets acquired as part of business combination |
Purchased Intangible Assets | Weighted Average |  |
| Useful Life |  | May 29, 2018
| (in years) |  | (in millions)
Core and developed technology | 10 |  | $ | 3,803.0 |
In-process research and development | — |  | 434.0 |
Customer-related | 10 |  | 448.1 |
Backlog | 1 |  | 36.9 |
Total purchased intangible assets |  |  | $ | 4,722.0 |
Business Acquisition, Pro Forma Information | The following unaudited pro-forma consolidated results of operations for the three months ended June 30, 2018 and 2017 assume the closing of the Microsemi acquisition occurred as of April 1, 2017. The pro-forma adjustments are mainly comprised of acquired inventory fair value costs and amortization of purchased intangible assets. The pro-forma results of operations are presented for informational purposes only and are not indicative of the results of operations that would have been achieved if the acquisition had taken place on April 1, 2017 or of results that may occur in the future (in millions except per share data):
| Three Months Ended
| June 30, 2018 |  | June 30, 2017
Net sales | $ | 1,426.8 |  |  | $ | 1,430.2 |
Net income (loss) | $ | 109.9 |  |  | $ | (275.3 | )
Basic net income (loss) per common share | $ | 0.47 |  |  | $ | (1.20 | )
Diluted net income (loss) per common share | $ | 0.44 |  |  | $ | (1.20 | )

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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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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