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BUSINESS ACQUISITIONS AND DIVESTITURE (Tables) | 6 Months Ended
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Jun. 30, 2018
Business Combinations [Abstract] |
Summary of Purchase Price Allocation | The preliminary purchase allocation of $800.2 million, net of $27.7 million of cash acquired and a preliminary net working capital adjustment of $1.7 million, was as follows:
| April 3, 2018
| (in thousands)
Trade receivables (contractual amount of $35,073) | $ | 35,073 |
Inventories | 4,463 |
Other current assets (excluding cash) | 5,627 |
Property, plant and equipment | 128,403 |
Goodwill | 440,372 |
Definite-lived intangible assets | 309,200 |
Other long-term assets | 1,081 |
Deferred revenue | (22,600 | )
Current liabilities | (32,788 | )
Deferred tax liabilities | (66,379 | )
Other long-term liabilities | (2,213 | )
Total purchase price allocation | $ | 800,239 |
The preliminary purchase price allocation of $22.0 million, net of $1.0 million of cash acquired, was as follows:
| January 11, 2018
| (in thousands)
Trade receivables (contractual amount of $1,309) | $ | 1,309 |
Other current assets (excluding cash) | 99 |
Property, plant and equipment | 1,136 |
Definite-lived intangible assets - client relationships | 3,647 |
Goodwill | 18,165 |
Current liabilities | (1,575 | )
Deferred revenue | (151 | )
Long-term liabilities | (596 | )
Total purchase price allocation | $ | 22,034 |
The purchase price allocation of $20.1 million, net of $0.6 million of cash acquired, was as follows:
| August 4, 2017
| (in thousands)
Trade receivables (contractual amount of $1,146) | $ | 1,146 |
Other current assets (excluding cash) | 640 |
Property, plant and equipment | 664 |
Other long-term assets | 29 |
Definite-lived intangible assets | 9,300 |
Goodwill | 12,582 |
Current liabilities | (1,683 | )
Deferred revenue | (405 | )
Long-term liabilities | (2,151 | )
Total purchase price allocation | $ | 20,122 |
Definite-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 | $ | 264,900 |  |  | 13
Developed technology | 23,400 |  |  | 3
Backlog | 20,900 |  |  | 2
Total definite-lived intangible assets | $ | 309,200 |  |  | 12
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 | $ | 7,000 |  |  | 13
Other intangible assets | 2,300 |  |  | 10
Total definite-lived intangible assets | $ | 9,300 |  |  | 12
Carrying Amounts of Assets and Liabilities to be Disposed Of | As of February 10, 2017, the carrying amounts of the major classes of assets and liabilities associated with the divestiture of the CDMO business were as follows (in thousands):
Assets |
Current assets | $ | 5,505 |
Property, plant and equipment, net | 11,174 |
Goodwill | 35,857 |
Long-term assets | 17,154 |
Total assets | $ | 69,690 |
Liabilities |
Deferred revenue | $ | 4,878 |
Other current liabilities | 1,158 |
Total liabilities | $ | 6,036 |
Schedule of Business Acquisition, Pro Forma Information | For the six months ended July 1, 2017, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $11.4 million, additional interest expense on borrowings of $13.5 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.
| Three Months Ended |  | Six Months Ended
| June 30, 2018 |  | July 1, 2017 |  | June 30, 2018 |  | July 1, 2017
| (in thousands)
Revenue | $ | 585,297 |  |  | $ | 504,710 |  |  | $ | 1,141,388 |  |  | $ | 1,031,198 |
Net income attributable to common shareholders | 60,161 |  |  | 43,113 |  |  | 109,575 |  |  | 90,968 |
Earnings per common share |  |  |  |  |  |  |
Basic | $ | 1.25 |  |  | $ | 0.91 |  |  | $ | 2.28 |  |  | $ | 1.91 |
Diluted | $ | 1.23 |  |  | $ | 0.89 |  |  | $ | 2.24 |  |  | $ | 1.88 |

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