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Business Acquisitions (Tables) | 6 Months Ended
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Jun. 25, 2016
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The purchase price allocation of $212.2 million, net of $2.3 million of cash acquired, was as follows:
| July 24, 2015
| (in thousands)
Trade receivables (contractual amount of $5,410) | $ | 5,288 |
Inventories | 10,103 |
Other current assets (excluding cash) | 13,269 |
Property, plant and equipment | 4,639 |
Definite-lived intangible assets | 118,140 |
Goodwill | 105,550 |
Other long-term assets | 537 |
Short-term debt | (9,766 | )
Other current liabilities | (7,136 | )
Long-term liabilities | (28,388 | )
Total purchase price allocation | $ | 212,236 |
The purchase price allocation of $577.4 million, net of $27.4 million of cash acquired, was as follows (in thousands):
| April 4, 2016
| (in thousands)
Trade receivables (contractual amount of $48,625) | $ | 48,157 |
Inventories | 2,296 |
Other current assets (excluding cash) | 4,021 |
Property, plant and equipment | 129,066 |
Other long term assets | 218 |
Definite-lived intangible assets | 167,400 |
Goodwill | 328,778 |
Deferred revenue | (39,103 | )
Other current liabilities | (27,828 | )
Long-term liabilities | (35,614 | )
Total purchase price allocation | $ | 577,391 |
The purchase price allocation of $35.4 million, net of $0.6 million of cash acquired, was as follows:
| November 18, 2015
| (in thousands)
Trade receivables (contractual amount of $3,546) | $ | 3,520 |
Inventories | 129 |
Other current assets (excluding cash) | 706 |
Property, plant and equipment | 2,528 |
Definite-lived intangible assets | 13,330 |
Goodwill | 22,894 |
Other long-term assets | 250 |
Current liabilities | (3,456 | )
Long-term liabilities | (4,470 | )
Total purchase price allocation | $ | 35,431 |
The 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)
Trade receivables (contractual amount of $995) | $ | 965 |
Inventories | 1,518 |
Other current assets (excluding cash) | 973 |
Property, plant and equipment | 13,698 |
Definite-lived intangible assets | 3,400 |
Current liabilities | (925 | )
Long-term liabilities | (250 | )
Fair value of net assets acquired | 19,379 |
Bargain purchase gain | (9,821 | )
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:
| 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 |  |  |
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 | $ | 141,400 |  |  | 15
Developed technology | 20,700 |  |  | 3
Backlog | 5,300 |  |  | 1
Total definite-lived intangible assets | $ | 167,400 |  |  |
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 | $ | 7,146 |  |  | 19
Developed technology | 5,960 |  |  | 19
Other intangible assets | 224 |  |  | 3
Total definite-lived intangible assets | $ | 13,330 |  |  |
Business Acquisition, Pro Forma Information | The following selected pro forma consolidated results of operations are presented as if the WIL Research acquisition had occurred as of the beginning of the period immediately preceding the period of acquisition after giving effect to certain adjustments. For the six months ended June 25, 2016, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $2.7 million, reversal of interest expense on borrowings of $2.6 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments. For the six months ended June 27, 2015, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $3.4 million, reversal of interest expense on borrowings of $5.5 million, inclusion of acquisition-related transaction costs of $8.4 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.
| Three Months Ended |  | Six Months Ended
| June 25, 2016 |  | June 27, 2015 |  | June 25, 2016 |  | June 27, 2015
| (in thousands)
Revenue | $ | 434,917 |  |  | $ | 390,887 |  |  | $ | 849,455 |  |  | $ | 763,723 |
Net income attributable to common shareholders | 44,159 |  |  | 51,164 |  |  | 89,222 |  |  | 77,813 |
Earnings per common share |  |  |  |  |  |  |
Basic | 0.94 |  |  | 1.10 |  |  | 1.90 |  |  | 1.67 |
Diluted | 0.92 |  |  | 1.08 |  |  | 1.87 |  |  | 1.63 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 + Details
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