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Acquisitions (Tables)

3 Months Ended

Mar. 29, 2015

Tripwire [Member]

Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary estimated fair value of the assets acquired and the liabilities assumed as of January 2, 2015 (in thousands).

Cash		$	2,364
Receivables			37,792
Inventories			603
Other current assets			2,822
Property, plant and equipment			11,113
Goodwill			477,607
Intangible assets			306,000
Other non-current assets			658
Total assets		$	838,959
Accounts payable		$	3,142
Accrued liabilities			11,546
Deferred revenue			8,000
Deferred income taxes			112,522
Other non-current liabilities			540
Total liabilities		$	135,750
Net assets		$	703,209

Intangible Assets Related to Acquisition

The intangible assets related to the acquisition consisted of the following:

		Estimated Fair Value				Amortization Period
		(In thousands)				(In years)
Intangible assets subject to amortization:
Developed technology		$	210,000				5.8
Customer relationships			56,000				15.0
Backlog			3,000				1.0
Total intangible assets subject to amortization			269,000
Intangible assets not subject to amortization:
Goodwill			477,607
Trademarks			31,000
In-process research and development			6,000
Total intangible assets not subject to amortization			514,607
Total intangible assets		$	783,607
Weighted average amortization period							7.7

Pro Forma Effect on Operating Results

The following table illustrates the unaudited pro forma effect on operating results as if the Tripwire acquisition had been completed as of January 1, 2014.

		Three Months Ended
		March 29, 2015				March 30, 2014
		(In thousands, except per share data)
		(Unaudited)
Revenues		$	563,371			$	499,491
Income (loss) from continuing operations			(215)				1,927
Diluted income (loss) per share from continuing operations		$	(0.01)			$	0.04

Prosoft Technology, Inc. [Member]

Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and the liabilities assumed as of June 11, 2014 (in thousands).

Cash		$	2,517
Receivables			5,894
Inventories			2,731
Other current assets			240
Property, plant and equipment			1,076
Goodwill			56,379
Intangible assets			40,800
Other non-current assets			622
Total assets		$	110,259
Accounts payable		$	2,544
Accrued liabilities			2,480
Other non-current liabilities			1,132
Total liabilities		$	6,156
Net assets		$	104,103

Intangible Assets Related to Acquisition

 The intangible assets related to the acquisition consisted of the following:

		Fair Value				Amortization       Period
		(In thousands)				(In years)
Intangible assets subject to amortization:
Customer relationships		$	26,600				20.0
Developed technologies			9,000				5.0
Trademarks			5,000				5.0
Backlog			200				0.3
Total intangible assets subject to amortization			40,800
Intangible assets not subject to amortization:
Goodwill			56,379
Total intangible assets not subject to amortization			56,379
Total intangible assets		$	97,179
Weighted average amortization period							14.8

Grass Valley [Member]

Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and the liabilities assumed as of March 31, 2014 (in thousands).

Cash		$	9,451
Receivables			67,354
Inventories			18,593
Other current assets			4,172
Property, plant and equipment			22,460
Goodwill			131,070
Intangible assets			95,500
Other non-current assets			17,101
Total assets		$	365,701
Accounts payable		$	51,276
Accrued liabilities			62,672
Deferred revenue			14,000
Postretirement benefits			16,538
Deferred income taxes			1,827
Other non-current liabilities			1,199
Total liabilities		$	147,512
Net assets		$	218,189

Intangible Assets Related to Acquisition

The intangible assets related to the acquisition consisted of the following:

		Fair Value				Amortization Period
		(In thousands)				(In years)
Intangible assets subject to amortization:
Developed technologies		$	37,000				5.0
Customer relationships			27,000				15.0
Backlog			1,500				0.3
Total intangible assets subject to amortization			65,500
Intangible assets not subject to amortization:
Goodwill			131,070
Trademarks			22,000
In-process research and development			8,000
Total intangible assets not subject to amortization			161,070
Total intangible assets		$	226,570
Weighted average amortization period							9.0

Grass Valley and Prosoft [Member]

Pro Forma Effect on Operating Results

The following table illustrates the unaudited pro forma effect on operating results as if the Grass Valley and ProSoft acquisitions had been completed as of January 1, 2013.

		Three Months Ended March 30, 2014
		(In thousands, except per share data)
		(Unaudited)
Revenues		$	563,624
Income from continuing operations			2,297
Diluted income per share from continuing operations		$	0.05

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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.

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+ References

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