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BUSINESS ACQUISITIONS (Tables) | 6 Months Ended
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Jun. 29, 2019
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The 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 |
The preliminary purchase allocation of $491.7 million, net of $36.4 million of cash acquired was as follows:
| April 29, 2019
| (in thousands)
Trade receivables (contractual amount of $35,547) | $ | 35,547 |
Inventories | 5,282 |
Other current assets (excluding cash) | 14,687 |
Property, plant and equipment | 93,326 |
Goodwill | 275,076 |
Definite-lived intangible assets | 161,100 |
Other long-term assets | 20,465 |
Deferred revenue | (14,647 | )
Current liabilities | (46,118 | )
Deferred tax liabilities | (28,467 | )
Other long-term liabilities | (20,487 | )
Redeemable noncontrolling interest | (4,035 | )
Total purchase price allocation | $ | 491,729 |
The 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 | 441,656 |
Definite-lived intangible assets | 309,200 |
Other long-term assets | 1,081 |
Deferred revenue | (23,926 | )
Current liabilities | (32,885 | )
Deferred tax liabilities | (65,945 | )
Other long-term liabilities | (2,213 | )
Total purchase price allocation | $ | 800,800 |
Schedule of 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 |  |  | 1
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 | $ | 133,500 |  |  | 13
Developed technology | 19,900 |  |  | 3
Backlog | 7,700 |  |  | 1
Total definite-lived intangible assets | $ | 161,100 |  |  | 12
Schedule of Business Acquisition, Pro Forma Information | For the six months ended June 30, 2018, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $5.1 million, additional interest expense on borrowings of $2.0 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.
| Three Months Ended |  | Six Months Ended
| June 29, 2019 |  | June 30, 2018 |  | June 29, 2019 |  | June 30, 2018
| (in thousands)
Revenue | $ | 673,645 |  |  | $ | 630,411 |  |  | $ | 1,325,483 |  |  | $ | 1,168,651 |
Net income attributable to common shareholders | 53,625 |  |  | 54,990 |  |  | 114,653 |  |  | 107,859 |
For the six months ended June 30, 2018, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $9.4 million, additional interest expense on borrowings of $2.8 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.
| June 30, 2018
| Three Months Ended |  | Six Months Ended
| (in thousands)
Revenue | $ | 585,297 |  |  | $ | 1,141,388 |
Net income attributable to common shareholders | 60,161 |  |  | 109,575 |

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