Business Acquisitions (Tables)

9 Months Ended

Sep. 26, 2015

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