XML 40 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
BUSINESS ACQUISITIONS AND DIVESTITURE (Tables)
 9 Months Ended
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