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BUSINESS ACQUISITIONS AND DIVESTITURE (Tables) | 9 Months Ended
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Sep. 29, 2018
Business Combinations [Abstract] |
Summary of Purchase Price Allocation | 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 |
The preliminary purchase allocation of $800.8 million, net of $27.7 million of cash acquired and a final net working capital adjustment of $1.2 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) | 5,893 |
Property, plant and equipment | 128,403 |
Goodwill | 440,662 |
Definite-lived intangible assets | 309,200 |
Other long-term assets | 1,081 |
Deferred revenue | (22,600 | )
Current liabilities | (32,885 | )
Deferred tax liabilities | (66,277 | )
Other long-term liabilities | (2,213 | )
Total purchase price allocation | $ | 800,800 |
The preliminary purchase price allocation of $21.5 million, net of $1.0 million of cash acquired and a final net working capital adjustment of $0.4 million, 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 | 17,660 |
Current liabilities | (1,575 | )
Deferred revenue | (151 | )
Long-term liabilities | (596 | )
Total purchase price allocation | $ | 21,529 |
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 | The carrying amounts of the major classes of assets and liabilities associated with the divestiture of the CDMO business were as follows:
| February 10, 2017
Assets | (in thousands)
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 nine months ended September 30, 2017, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $17.3 million, additional interest expense on borrowings of $19.3 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.
| Three Months Ended |  | Nine Months Ended
| September 29, 2018 |  | September 30, 2017 |  | September 29, 2018 |  | September 30, 2017
| (in thousands)
Revenue | $ | 585,295 |  |  | $ | 523,948 |  |  | $ | 1,726,683 |  |  | $ | 1,555,146 |
Net income attributable to common shareholders | 59,297 |  |  | 48,927 |  |  | 168,872 |  |  | 139,258 |
Earnings per common share |  |  |  |  |  |  |
Basic | $ | 1.23 |  |  | $ | 1.03 |  |  | $ | 3.51 |  |  | $ | 2.93 |
Diluted | $ | 1.20 |  |  | $ | 1.01 |  |  | $ | 3.44 |  |  | $ | 2.87 |

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