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Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2018

Newport [Member]

Summary of Purchase Price

The purchase price of Newport consisted of the following:

Cash paid for outstanding shares(1)		$	905,254
Settlement of share-based compensation awards(2)			8,824
Cash paid for Newport debt(3)			93,200
Total purchase price		$	1,007,278
Less: cash and cash equivalents acquired			(61,463	)
Total purchase price, net of cash and cash equivalents acquired		$	945,815

(1) Represents cash paid of $23.00 per share for approximately 39,359,000 shares of Newport common stock, without interest and subject to a deduction for any required withholding tax.

(2) Represents the vested but unissued portion of Newport share-based compensation awards as of the acquisition date of April 29, 2016.

(3) Represents the cash paid for the outstanding balance of Newport’s senior secured revolving credit agreement.

Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price to the fair values assigned to assets acquired and liabilities assumed at the date of the Newport Merger:

Current assets (including cash)		$	186,137
Inventory			142,714
Intangible assets			404,506
Goodwill			396,027
Property, plant and equipment			119,932
Long-term assets			22,725
Total assets acquired			1,272,041
Current liabilities			95,156
Intangible liability			4,302
Other long-term liabilities			165,305
Total liabilities assumed			264,763
Fair value of assets acquired and liabilities assumed			1,007,278
Less: cash and cash equivalents acquired			(61,463	)
Total purchase price, net of cash and cash equivalents acquired		$	945,815

Schedule of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information presents the combined results of operations of the Company as if the Newport Merger had occurred on January 1, 2015. The unaudited pro forma financial information is not necessarily indicative of what the Company’s condensed consolidated results of operations actually would have been had the acquisition occurred at the beginning of each year. In addition, the unaudited pro forma financial information does not attempt to project the future results of operations of the combined company.

		2016
Total net revenues		$	1,475,637
Net income			111,076
Net income per share:
Basic		$	2.08
Diluted		$	2.06

Precisive, LLC [Member]

Allocation of Acquired Intangible Assets and Related Estimates of Useful Lives

The following table reflects the allocation of the acquired intangible assets and liabilities and related estimate of useful lives:

Order backlog		$	12,100				1 year
Customer relationships			247,793				6-18 years
Trademarks and trade names			55,900				Indefinite
Developed technology			75,386				4-8 years
In-process research and development			6,899				Undefined(1)
Leasehold interest (favorable)			6,428				4-5 years
Total intangible assets		$	404,506
Leasehold interest (unfavorable)		$	4,302

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