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Business Acquisitions (Tables) | 6 Months Ended
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Jun. 27, 2015
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The preliminary purchase price allocation of $52.1 million, net of $7.2 million in cash acquired, is as follows:
| October 29, 2014
| (in thousands)
Current assets (excluding cash) | $ | 4,648 |
Property, plant and equipment | 1,579 |
Definite-lived intangible assets | 23,920 |
Goodwill | 34,927 |
Current liabilities | (3,515 | )
Long-term liabilities | (9,486 | )
Total purchase price allocation | $ | 52,073 |
The preliminary purchase price allocation of $9.6 million, net of less than $0.1 million of cash acquired, is as follows:
| May 5, 2015
| (in thousands)
Accounts receivable, net | $ | 981 |
Inventory | 1,518 |
Other current assets (excluding cash) | 318 |
Property, plant and equipment | 13,866 |
Definite-lived intangible assets | 3,400 |
Current liabilities | (397 | )
Long-term liabilities | (250 | )
Fair value of net assets acquired | 19,436 |
Bargain purchase gain | (9,878 | )
Total purchase price allocation | $ | 9,558 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The breakout of definite-lived intangible assets acquired is as follows:
| October 29, 2014 |  | Weighted average amortization life
| (in thousands) |  | (in years)
Client relationships | $ | 19,000 |  |  | 13
Other intangible assets | 4,920 |  |  | 9
Total definite-lived intangible assets | $ | 23,920 |  |  |
Schedule of Assets and Liabilities Acquired | The purchase price allocation of $183.6 million, net of $8.2 million of cash acquired, was as follows (in thousands):
Current assets (excluding cash) | $ | 31,682 |
Property, plant and equipment | 21,008 |
Other long term assets | 11,140 |
Definite-lived intangible assets | 104,470 |
Goodwill | 65,235 |
Current liabilities | (13,139 | )
Long term liabilities | (36,802 | )
Total purchase price allocation | $ | 183,594 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The breakout of definite-lived intangible assets acquired was as follows:
| Definite-Lived Intangible Assets |  | Weighted Average Amortization Life
| (in thousands) |  | (in years)
Client relationships | $ | 94,000 |  |  | 18
Backlog | 5,900 |  |  | 1
Trademark and trade names | 1,170 |  |  | 3
Leasehold interests | 1,000 |  |  | 13
Other intangible assets | 2,400 |  |  | 19
Total definite-lived intangible assets | $ | 104,470 |  |  |
Business Acquisition, Pro Forma Information | The following selected pro forma consolidated results of operations are presented as if the Argenta and BioFocus acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition after giving effect to certain adjustments, including amortization of intangible assets and depreciation of fixed assets of $3.7 million and other one-time costs. These pro forma consolidated results of operations are for informational purposes only and do not necessarily reflect the results of operations had the companies operated as one entity during the periods reported. No effect has been given for synergies, if any, that may have been realized through the acquisition.
| Three Months Ended |  | Six Months Ended
| June 27, 2015 |  | June 28, 2014 |  | June 27, 2015 |  | June 28, 2014
| (in thousands)
Revenue | $ | 339,573 |  |  | $ | 341,179 |  |  | $ | 659,987 |  |  | $ | 665,656 |
Net income attributable to common shareholders | 48,509 |  |  | 35,264 |  |  | 80,050 |  |  | 65,688 |
Earnings per common share |  |  |  |  |  |  |
Basic | $ | 1.04 |  |  | $ | 0.75 |  |  | $ | 1.71 |  |  | $ | 1.40 |
Diluted | $ | 1.02 |  |  | $ | 0.74 |  |  | $ | 1.68 |  |  | $ | 1.38 |

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