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BUSINESS ACQUISITIONS (Tables) | 3 Months Ended
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Mar. 28, 2020
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The purchase allocation of $490.4 million, net of $36.7 million of cash acquired was as follows:
| April 29, 2019
| (in thousands)
Trade receivables | $ | 35,405 |
Inventories | 5,282 |
Other current assets (excluding cash) | 13,917 |
Property, plant and equipment | 88,605 |
Goodwill | 280,161 |
Definite-lived intangible assets | 162,400 |
Other long-term assets | 20,063 |
Deferred revenue | (15,278) |
Current liabilities | (46,081) |
Deferred tax liabilities | (27,458) |
Other long-term liabilities | (22,624) |
Redeemable noncontrolling interest | (4,035) |
Total purchase price allocation | $ | 490,357 |
The purchase allocation of $23.1 million, net of $0.3 million of cash acquired was as follows:
| August 28, 2019
| (in thousands)
Trade receivables | $ | 189 |
Inventories | 7,644 |
Property, plant and equipment | 1,462 |
Goodwill | 12,669 |
Other long-term assets | 11,849 |
Current liabilities | (441) |
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 | $ | 170,390 |  |  | 19
Trade name | 7,330 |  |  | 10
Other intangible assets | 5,820 |  |  | 3
Total definite-lived intangible assets | $ | 183,540 |  |  | 18
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 |
| Three Months Ended |  |  |  |  |  |
| March 28, 2020 |  | March 30, 2019 |  |  |  |
| (in thousands) |  |  |  |  |  |
| (unaudited) |  |  |  |  |  |
Revenue | $ | 707,077 |  |  | $ | 613,456 |  |  |  |  |
Net income attributable to common shareholders | 55,705 |  |  | 52,186 |  |  |  |  |
| Three Months Ended |  |  |  |
| March 30, 2019 |  |  |  |
| (in thousands) |  |  |  |
| (unaudited) |  |  |  |
Revenue | $ | 650,875 |  |  |  |  |
Net income attributable to common shareholders | 61,028 |  |  |  |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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