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BUSINESS ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 28, 2019
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The preliminary purchase allocation of $491.0 million, net of $36.7 million of cash acquired was as follows:
| April 29, 2019
| (in thousands)
Trade receivables (contractual amount of $35,405) | $ | 35,405 |
Inventories | 5,282 |
Other current assets (excluding cash) | 13,822 |
Property, plant and equipment | 88,912 |
Goodwill | 280,588 |
Definite-lived intangible assets | 162,400 |
Other long-term assets | 20,164 |
Deferred revenue | (15,278 | )
Current liabilities | (46,682 | )
Deferred tax liabilities | (27,655 | )
Other long-term liabilities | (21,916 | )
Redeemable noncontrolling interest | (4,035 | )
Total purchase price allocation | $ | 491,007 |
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 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 |
The preliminary purchase allocation of $23.1 million, net of $0.3 million of cash acquired was as follows:
| August 28, 2019
| (in thousands)
Trade receivables (contractual amount of $189) | $ | 189 |
Inventories | 7,644 |
Property, plant and equipment | 1,462 |
Goodwill | 12,528 |
Other long-term assets | 11,849 |
Current liabilities | (300 | )
Deferred tax liabilities | (1,331 | )
Other long-term liabilities | (238 | )
Redeemable noncontrolling interest | (8,740 | )
Total purchase price allocation | $ | 23,063 |
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 | $ | 134,600 |  |  | 13
Developed technology | 19,900 |  |  | 3
Backlog | 7,900 |  |  | 1
Total definite-lived intangible assets | $ | 162,400 |  |  | 12
Schedule of Business Acquisition, Pro Forma Information | For the nine months ended September 29, 2018, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $7.3 million, additional interest expense on borrowings of $3.1 million, elimination of intercompany activity and other one-time costs, and the tax impacts of these adjustments.
| Three Months Ended |  | Nine Months Ended
| September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
| (in thousands)
Revenue | $ | 667,951 |  |  | $ | 627,758 |  |  | $ | 1,992,472 |  |  | $ | 1,795,312 |
Net income attributable to common shareholders | $ | 74,948 |  |  | $ | 63,919 |  |  | $ | 189,601 |  |  | $ | 170,557 |
For the nine months ended September 29, 2018, these adjustments included additional amortization of intangible assets and depreciation of fixed assets of $11.8 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.
| September 29, 2018
| Three Months Ended |  | Nine Months Ended
| (in thousands)
Revenue | $ | 585,295 |  |  | $ | 1,726,683 |
Net income attributable to common shareholders | 59,297 |  |  | 168,872 |

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