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Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2022
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The preliminary allocation of the $824.4 million purchase price to the estimated fair values of the tangible and intangible assets acquired and liabilities assumed is as follows:

(in thousands)Amount
Cash and cash equivalents$19,010 
Trade accounts receivable, net63,607 
Inventory102,608 
Other current assets4,491 
Property and equipment, net87,156 
Operating lease right-of-use assets6,219 
Goodwill376,908 
Intangible assets, net358,761 
Other noncurrent assets1,428 
Total assets1,020,188 
Trade accounts payable 46,467 
Accrued liabilities and other current liabilities21,922 
Operating lease liabilities 6,034 
Deferred income tax and other long-term liabilities 121,360 
Total purchase price$824,405 
The estimated fair value of intangible assets acquired was determined primarily using income approach methodologies. The preliminary values allocated to intangible assets and the useful lives are as follows:

(in thousands except useful lives)Weighted-average useful life (in years) Amount
Customer relationships16$220,810 
Trade names Indefinite 93,811 
Developed technology12.544,140 
$358,761 
Business Acquisition, Pro Forma Information The following unaudited pro forma consolidated financial information has been prepared using the acquisition method of accounting in accordance with U.S. GAAP:
Three Months Ended 
 
June 30,		Six Months Ended 
 
June 30,
(in thousands)2022202120222021
Net sales$593,232 $498,805 $1,165,986 $923,579 
Net income$104,823 $79,535 $210,772 $114,884 
Pro forma earnings per common share:
Basic$2.43 $1.83 $4.88 $2.65 
Diluted$2.42 $1.82 $4.87 $2.63 
Weighted average shares outstanding:
Basic43,145 43,434 43,162 43,406 
Diluted43,240 43,641 43,306 43,620