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Acquisitions and Dispositions (Tables) | 12 Months Ended
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Dec. 30, 2017
Acquisitions and Dispositions [Abstract] |
Schedule of final valuation of the long-lived assets | The following table summarizes the allocation of the purchase price to acquire these businesses, which was financed by available cash balances, as well as the assets acquired and liabilities assumed at the respective acquisition dates. The purchase price allocation for Heatlink Group is provisional as of December 30, 2017 and subject to change upon completion of the final valuation of the long-lived assets during the measurement period. During 2017, the valuation of the Jungwoo-Mueller acquisition was finalized and changes to the purchase price allocation from the amounts presented in the Company’s 2016 Consolidated Financial Statements were immaterial.
(in thousands) |  | Heatlink Group |  | Jungwoo-Mueller |  | Great Lakes |  | Sherwood |  | Turbotec
Total consideration |  | $ | 16,317 |  |  | $ | 20,533 |  |  | $ | 70,011 |  |  | $ | 21,795 |  |  | $ | 14,138 |
Allocated to: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | 2,809 |  |  | 5,551 |  |  | 26,079 |  |  | 6,490 |  |  | 1,936 |
Inventories |  | 4,648 |  |  | 17,616 |  |  | 15,233 |  |  | 11,892 |  |  | 3,247 |
Other current assets |  | 508 |  |  | 1,437 |  |  | 22 |  |  | 260 |  |  | 72 |
Property, plant, and equipment |  | 2,024 |  |  | 24,191 |  |  | 22,771 |  |  | 10,327 |  |  | 9,080 |
Goodwill |  | 4,071 |  |  | 223 |  |  | 23,208 |  | (1) | — |  |  | 2,088 |
Intangible assets |  | 6,413 |  |  | 756 |  |  | 27,468 |  |  | (38 | ) |  | 880 |
Other assets |  | — |  |  | 277 |  |  | 1,413 |  |  | — |  |  | 59 |
Total assets acquired |  | 20,473 |  |  | 50,051 |  |  | 116,194 |  |  | 28,931 |  |  | 17,362 |
Accounts payable |  | 3,633 |  |  | 7,252 |  |  | 36,026 |  |  | 6,022 |  |  | 1,603 |
Accrued wages & other employee costs |  | — |  |  | — |  |  | — |  |  | 471 |  |  | 356 |
Other current liabilities |  | 523 |  |  | 577 |  |  | 381 |  |  | 487 |  |  | 51 |
Long-term debt |  | — |  |  | 8,659 |  |  | — |  |  | — |  |  | — |
Pension and other postretirement liabilities |  | — |  |  | 799 |  |  | 5,655 |  |  | — |  |  | — |
Other noncurrent liabilities |  | — |  |  | 582 |  |  | 4,121 |  |  | 156 |  |  | 1,214 |
Total liabilities assumed |  | 4,156 |  |  | 17,869 |  |  | 46,183 |  |  | 7,136 |  |  | 3,224 |
Noncontrolling interest |  | — |  |  | 11,649 |  |  | — |  |  | — |  |  | — |
Net assets acquired |  | $ | 16,317 |  |  | $ | 20,533 |  |  | $ | 70,011 |  |  | $ | 21,795 |  |  | $ | 14,138 |
(1) Tax-deductible goodwill
Intangible assets identified in the allocation of the purchase price | The following details the total intangible assets identified in the allocation of the purchase price at the respective acquisition dates:
(in thousands) |  | Estimated Useful Life |  | Heatlink Group |  | Jungwoo-Mueller |  | Great Lakes |  | Turbotec
Intangible asset type: |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 20 years |  | $ | 4,265 |  |  | $ | — |  |  | $ | 20,273 |  |  | $ | 350 |
Non-compete agreements |  | 3-5 years |  | 74 |  |  | — |  |  | 2,269 |  |  | 90 |
Patents and technology |  | 10-15 years |  | 1,466 |  |  | 756 |  |  | 3,104 |  |  | 220 |
Trade names, licenses, and other |  | 5-10 years |  | 608 |  |  | — |  |  | 1,822 |  |  | 220 |
Total intangible assets |  |  |  | $ | 6,413 |  |  | $ | 756 |  |  | $ | 27,468 |  |  | $ | 880 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + 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=73530397&loc=d3e4845-128472 + Details
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