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Business Acquisitions (Tables) | 9 Months Ended
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Sep. 26, 2015
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The preliminary purchase price allocation of $211.7 million, net of $2.3 million of cash acquired, was as follows:
| July 24, 2015
| (in thousands)
Accounts receivable (contractual amount of $5,410) | $ | 5,288 |
Inventory | 10,103 |
Other current assets (excluding cash) | 13,449 |
Property, plant and equipment | 5,086 |
Other long term assets | 614 |
Definite-lived intangible assets | 118,140 |
Goodwill | 104,785 |
Short-term debt | (9,766 | )
Other current liabilities | (7,382 | )
Long term liabilities | (28,593 | )
Total purchase price allocation | $ | 211,724 |
The purchase price allocation of $52.0 million, net of $7.2 million in cash acquired, was as follows:
| October 29, 2014
| (in thousands)
Current assets (excluding cash) | $ | 4,669 |
Property, plant and equipment | 1,637 |
Definite-lived intangible assets | 23,920 |
Goodwill | 34,775 |
Current liabilities | (3,486 | )
Long-term liabilities | (9,486 | )
Total purchase price allocation | $ | 52,029 |
The preliminary purchase price allocation of $9.6 million, net of less than $0.1 million of cash acquired, was as follows:
| May 5, 2015
| (in thousands)
Accounts receivable, net | $ | 981 |
Inventory | 1,518 |
Other current assets (excluding cash) | 373 |
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 | 19,491 |
Bargain purchase gain | (9,933 | )
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 was 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 |  |  |
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 | $ | 71,000 |  |  | 16
Developed technology | 39,140 |  |  | 14
Trademark and trade names | 5,200 |  |  | 14
Non-compete | 2,800 |  |  | 5
Total definite-lived intangible assets | $ | 118,140 |  |  |
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 nonrecurring costs.
| Nine Months Ended
| September 27, 2014
| (in thousands)
Revenue | $ | 993,223 |
Net income attributable to common shareholders | $ | 101,029 |
Earnings per common share |
Basic | $ | 2.16 |
Diluted | $ | 2.12 |
The following selected pro forma consolidated results of operations are presented as if the Celsis acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition after giving effect to certain adjustments, including additional depreciation and amortization of property, plant and equipment, inventory fair value adjustments and intangible assets of $2.4 million and $11.3 million for the nine months ended September 26, 2015 and September 27, 2014, respectively, and other nonrecurring costs.
| Three Months Ended |  | Nine Months Ended
| September 26, 2015 |  | September 27, 2014 |  | September 26, 2015 |  | September 27, 2014
| (in thousands)
Revenue | $ | 350,819 |  |  | $ | 335,987 |  |  | $ | 1,026,643 |  |  | $ | 993,384 |
Net income attributable to common shareholders | $ | 40,826 |  |  | $ | 31,893 |  |  | $ | 125,863 |  |  | $ | 84,545 |
Earnings per common share |  |  |  |  |  |  |
Basic | $ | 0.88 |  |  | $ | 0.69 |  |  | $ | 2.70 |  |  | $ | 1.81 |
Diluted | $ | 0.86 |  |  | $ | 0.68 |  |  | $ | 2.65 |  |  | $ | 1.78 |
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:
| April 1, 2014
| (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 |  |  |

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