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Acquisitions (Tables) | 12 Months Ended
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Dec. 27, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The total purchase consideration consisted of the following (in thousands):
Cash paid | $ | 265,301 |
Acquisition-related consideration payable | 10,339 |
Contingent consideration | 14,607 |
Total purchase consideration | $ | 290,247 |
Preliminary purchase consideration was allocated to assets acquired and liabilities assumed based on estimated fair values as follows (in thousands):
Cash and cash equivalents | $ | 30,899 |
Accounts receivable | 28,120 |
Inventories | 26,375 |
Other current assets | 17,915 |
Property, plant and equipment | 16,619 |
Other non-current assets | 5,854 |
Identifiable intangible assets | 131,564 |
Goodwill | 126,101 |
Current liabilities | (52,544) |
Deferred income taxes, net | (33,166) |
Other non-current liabilities | (7,490) |
Total net assets acquired | $ | 290,247 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The total purchase consideration consisted of the following (in thousands):
Cash paid | $ | 265,301 |
Acquisition-related consideration payable | 10,339 |
Contingent consideration | 14,607 |
Total purchase consideration | $ | 290,247 |
Preliminary purchase consideration was allocated to assets acquired and liabilities assumed based on estimated fair values as follows (in thousands):
Cash and cash equivalents | $ | 30,899 |
Accounts receivable | 28,120 |
Inventories | 26,375 |
Other current assets | 17,915 |
Property, plant and equipment | 16,619 |
Other non-current assets | 5,854 |
Identifiable intangible assets | 131,564 |
Goodwill | 126,101 |
Current liabilities | (52,544) |
Deferred income taxes, net | (33,166) |
Other non-current liabilities | (7,490) |
Total net assets acquired | $ | 290,247 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | Identifiable intangible assets and estimated useful life are as follows (in thousands):
|  |  | Estimated Life (years)
Trade name | $ | 32,458 |  |  | Indefinite
Customer relationship | 76,493 |  |  | 15
Developed technology | 20,557 |  |  | 10
Backlog | 2,056 |  |  | 0.5
Total identifiable intangibles assets | $ | 131,564 |  |  |
Schedule of Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | Identifiable intangible assets and estimated useful life are as follows (in thousands):
|  |  | Estimated Life (years)
Trade name | $ | 32,458 |  |  | Indefinite
Customer relationship | 76,493 |  |  | 15
Developed technology | 20,557 |  |  | 10
Backlog | 2,056 |  |  | 0.5
Total identifiable intangibles assets | $ | 131,564 |  |  |
Business Acquisition, Pro Forma Information | The following unaudited pro forma information provides the results of operations for the years ended December 27, 2024 and December 29, 2023, as if the acquisition had been completed at the beginning of fiscal year 2023 (in thousands, except per share amounts):
| 2024 |  | 2023
Net sales | $ | 2,218,982 |  |  | $ | 2,316,030 |
Net earnings | 489,109 |  |  | 501,114 |
Earnings per share |  |  |
Basic | $2.90 |  | $2.97
Diluted | $2.84 |  | $2.91

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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