XML 43 R32.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Business Acquisitions (Tables) | 9 Months Ended
--- | ---
Dec. 31, 2018
Business Combinations [Abstract] |
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).
| Previously reported September 30, 2018 |  | Adjustments |  | December 31, 2018
Assets acquired |  |  |  |  |
Cash and cash equivalents | $ | 340.0 |  |  | $ | — |  |  | $ | 340.0 |
Accounts receivable | 216.1 |  |  | — |  |  | 216.1 |
Inventories | 625.0 |  |  | (53.5 | ) |  | 571.5 |
Other current assets | 66.6 |  |  | 18.6 |  |  | 85.2 |
Property, plant and equipment | 201.9 |  |  | — |  |  | 201.9 |
Goodwill | 4,488.5 |  |  | (5.5 | ) |  | 4,483.0 |
Purchased intangible assets | 5,466.9 |  |  | — |  |  | 5,466.9 |
Long-term deferred tax assets | 6.0 |  |  | — |  |  | 6.0 |
Other assets | 57.2 |  |  | — |  |  | 57.2 |
Total assets acquired | 11,468.2 |  |  | (40.4 | ) |  | 11,427.8 |
Liabilities assumed |  |  |  |  |
Accounts payable | (226.9 | ) |  | (6.9 | ) |  | (233.8 | )
Other current liabilities | (174.8 | ) |  | 5.4 |  |  | (169.4 | )
Long-term debt | (2,056.9 | ) |  | — |  |  | (2,056.9 | )
Deferred tax liabilities | (617.2 | ) |  | 12.5 |  |  | (604.7 | )
Long-term income tax payable | (101.6 | ) |  | 14.4 |  |  | (87.2 | )
Other long-term liabilities | (46.3 | ) |  | 15.0 |  |  | (31.3 | )
Total liabilities assumed | (3,223.7 | ) |  | 40.4 |  |  | (3,183.3 | )
Purchase price allocated | $ | 8,244.5 |  |  | $ | — |  |  | $ | 8,244.5 |
Schedule of purchased intangible assets |
Purchased Intangible Assets | Weighted Average |  |
| Useful Life |  | May 29, 2018
| (in years) |  | (in millions)
Core and developed technology | 15 |  | $ | 4,312.1 |
In-process research and development | — |  | 794.2 |
Customer-related | 12 |  | 326.9 |
Backlog | 1 |  | 27.9 |
Other | 4 |  | 5.8 |
Total purchased intangible assets |  |  | $ | 5,466.9 |
Schedule of pro-forma results of operations | The following unaudited pro-forma consolidated results of operations for the three and nine months ended December 31, 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 December 31, |  | Nine Months Ended December 31,
| 2018 |  | 2017 |  | 2018 |  | 2017
Net sales | $ | 1,374.7 |  |  | $ | 1,462.9 |  |  | $ | 4,234.0 |  |  | $ | 4,380.5 |
Net income (loss) | $ | 102.4 |  |  | $ | (438.8 | ) |  | $ | 420.5 |  |  | $ | (742.5 | )
Basic net income (loss) per common share | $ | 0.43 |  |  | $ | (1.87 | ) |  | $ | 1.78 |  |  | $ | (3.20 | )
Diluted net income (loss) per common share | $ | 0.42 |  |  | $ | (1.87 | ) |  | $ | 1.69 |  |  | $ | (3.20 | )

X
- 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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
Name: | us-gaap_FiniteLivedAndIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -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
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration