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Finisar Acquisition | 3 Months Ended
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Sep. 30, 2020
Business Combinations [Abstract] |
Finisar Acquisition | Finisar AcquisitionOn September 24, 2019 (the “Closing Date”), the Company completed its acquisition of Finisar, a global technology leader for subsystems and components for fiber optic communications. The purchase price allocation set forth herein is final. The Company utilized widely accepted income-based, market-based, and cost-based valuation approaches to perform the purchase price allocation. Income-based valuation approaches included the use of the discounted cash flow and relief-from-royalty methods for certain acquired intangible assets. Our final allocation of the purchase price of Finisar, based on the estimated fair value of the assets acquired and liabilities assumed as of the Closing Date, is as follows (in $000):
|  | Final Purchase Price Allocation
|  | Previously |  |  |  | Measurement |  |
|  | Reported |  | Reclassification |  | Period |  |
|  | September 30, 2019 |  | Adjustments |  | Adjustments (a) |  | As Adjusted
Cash and cash equivalents |  | $ | 842,764 |  |  | $ | (287) |  |  | $ | — |  |  | $ | 842,477 |
Accounts receivable |  | 260,864 |  |  | — |  |  | (1,523) |  |  | 259,341 |
Inventories |  | 437,867 |  |  | — |  |  | 1,841 |  |  | 439,708 |
Property, plant & equipment |  | 748,858 |  |  | — |  |  | (91,145) |  |  | 657,713 |
Intangible assets |  | 827,689 |  |  | — |  |  | (162,489) |  |  | 665,200 |
Other assets |  | 82,624 |  |  | 287 |  |  | (6,443) |  |  | 76,468 |
Deferred tax assets |  | — |  |  | — |  |  | 16,267 |  |  | 16,267 |
Accounts payable |  | (123,707) |  |  | — |  |  | — |  |  | (123,707) |
Other accrued liabilities (a) |  | (148,425) |  |  | (43,964) |  |  | (3,199) |  |  | (195,588) |
Deferred tax liabilities (a) |  | (197,809) |  |  | 43,964 |  |  | 85,179 |  |  | (68,666) |
Debt |  | (575,000) |  |  | — |  |  | — |  |  | (575,000) |
Goodwill (a) |  | 759,239 |  |  | — |  |  | 155,051 |  |  | 914,290 |
Total Purchase Price |  | $ | 2,914,964 |  |  | $ | — |  |  | $ | (6,461) |  |  | $ | 2,908,503 |
(a) During the quarter ended September 30, 2020, the Company finalized its warranty reserve liabilities resulting in a reduction of other accrued liabilities by approximately $6.5 million, with a corresponding decrease to goodwill and deferred tax liabilities.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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