Acquisitions (Tables)

6 Months Ended

Jul. 02, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table presents the purchase price allocation among the assets acquired and liabilities assumed with respect to the Vascular Solutions acquisition:



	(Dollars in thousands)
Assets
Current assets	$	63,867
Property, plant and equipment	46,616
Intangible assets	539,250
Goodwill	522,614
Other assets	728
Total assets acquired	1,173,075
Less:
Current liabilities	15,079
Deferred tax liabilities	182,472
Liabilities assumed	197,551
Net assets acquired	$	975,524

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table sets forth the components of identifiable intangible assets acquired and the ranges of the useful lives as of the date of the Vascular Solutions acquisition:



	Fair value	Useful life range
	(Dollars in thousands)	(Years)
Intellectual property	248,200	10- 20
In-process research and development ("IPR&D")	15,600	Indefinite
Trade names	16,650	20
Customer lists	258,800	25

Business Acquisition, Pro Forma Information

The following unaudited pro forma combined financial information for the three and six months ended July 2, 2017 and June 26, 2016, respectively, gives effect to the Vascular Solutions acquisition as if it was completed at the beginning of the earliest period presented. The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have occurred under the ownership and management of the Company.



	Three Months Ended				Six Months Ended
	July 2, 2017		June 26, 2016		July 2, 2017		June 26, 2016
	(Dollars and shares in thousands, except per share)
Net revenue	$	528,613	$	514,574	$	1,039,318	$	978,697
Net income	$	79,221	$	59,352	$	128,302	$	77,252
Basic earnings per common share:
Net income	$	1.76	$	1.36	$	2.85	$	1.81
Diluted earnings per common share:
Net income	$	1.69	$	1.26	$	2.75	$	1.61
Weighted average common shares outstanding:
Basic	44,996		43,549		44,945		42,598
Diluted	46,818		47,246		46,716		48,014