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BUSINESS COMBINATIONS (Tables) | 12 Months Ended
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Dec. 26, 2020
Business Combinations [Abstract] |
Schedule of Preliminary Purchase Price Allocation | The preliminary purchase price allocation of $36.9 million, net of $0.5 million of cash acquired was as follows:
| August 6, 2020
| (in thousands)
Trade receivables | $ | 1,500 |
Inventories | 551 |
Other current assets (excluding cash) | 182 |
Property, plant and equipment | 1,648 |
Goodwill | 19,457 |
Definite-lived intangible assets | 16,230 |
Other long-term assets | 849 |
Current liabilities | (1,360) |
Deferred tax liabilities | (1,467) |
Other long-term liabilities | (740) |
Total purchase price allocation | $ | 36,850 |
The purchase price allocation of $376.7 million, net of $3.1 million of cash acquired was as follows:
| January 3, 2020
| (in thousands)
Trade receivables | $ | 6,451 |
Inventories | 8,468 |
Other current assets (excluding cash) | 3,494 |
Property, plant and equipment | 10,033 |
Goodwill | 210,196 |
Definite-lived intangible assets | 183,540 |
Other long-term assets | 5,920 |
Current liabilities | (5,188) |
Deferred tax liabilities | (38,529) |
Other long-term liabilities | (7,664) |
Total purchase price allocation | $ | 376,721 |
From the date of the acquisition through December 26, 2020, the Company recorded measurement-period adjustments related to the acquisition that resulted in an immaterial change to the purchase price allocation on a consolidated basis. No further adjustments will be made to the purchase price allocation. The purchase price 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 price 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 | $ | 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 Finite-Lived Intangible Assets Acquired | 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 | $ | 14,740 |  |  | 13
Other intangible assets | 1,490 |  |  | 3
Total definite-lived intangible assets | $ | 16,230 |  |  | 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 | $ | 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
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
Schedule of Pro Forma Information |
| Fiscal Year
| 2020 |  | 2019
| (in thousands)
| (unaudited)
Revenue | $ | 2,923,951 |  |  | $ | 2,661,565 |
Net income attributable to common shareholders | 368,800 |  |  | 245,423 |
| Fiscal Year
| 2019 |  | 2018
| (in thousands)
| (unaudited)
Revenue | $ | 2,683,610 |  |  | $ | 2,442,283 |
Net income attributable to common shareholders | 268,995 |  |  | 233,288 |
| Fiscal Year
| 2018
| (in thousands)
| (unaudited)
Revenue | $ | 2,328,213 |
Net income attributable to common shareholders | 225,550 |

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