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Acquisitions (Tables) | 6 Months Ended
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Jun. 28, 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 |  |  | 477,609 |
Intangible assets |  |  | 306,000 |
Other non-current assets |  |  | 658 |
Total assets |  | $ | 838,961 |
Accounts payable |  | $ | 3,142 |
Accrued liabilities |  |  | 11,548 |
Deferred revenue |  |  | 8,000 |
Deferred income taxes |  |  | 112,522 |
Other non-current liabilities |  |  | 540 |
Total liabilities |  | $ | 135,752 |
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 |  |  | 477,609 |  |  |  |  |
Trademarks |  |  | 31,000 |  |  |  |  |
In-process research and development |  |  | 6,000 |  |  |  |  |
Total intangible assets not subject to amortization |  |  | 514,609 |  |  |  |  |
Total intangible assets |  | $ | 783,609 |  |  |  |  |
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 |  |  | Six Months Ended |
|  | June 29, 2015 |  |  | June 29, 2014 |  |  | June 28, 2015 |  |  | June 29, 2014 |
|  | (In thousands, except per share data) |
|  | (Unaudited) |
Revenues |  | $ | 598,733 |  |  | $ | 622,174 |  |  | $ | 1,162,104 |  |  | $ | 1,121,665 |
Income (loss) from continuing operations |  |  | 29,943 |  |  |  | (10,717) |  |  |  | 17,640 |  |  |  | (8,608) |
Diluted income (loss) per share from continuing operations |  | $ | 0.69 |  |  | $ | (0.24) |  |  | $ | 0.41 |  |  | $ | (0.19) |
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 |  |  | 332 |
Property, plant and equipment |  |  | 767 |
Goodwill |  |  | 56,923 |
Intangible assets |  |  | 40,800 |
Other non-current assets |  |  | 622 |
Total assets |  | $ | 110,586 |
Accounts payable |  | $ | 2,544 |
Accrued liabilities |  |  | 2,807 |
Other non-current liabilities |  |  | 1,132 |
Total liabilities |  | $ | 6,483 |
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 |  |  | 56,923 |  |  |  |  |
Total intangible assets not subject to amortization |  |  | 56,923 |  |  |  |  |
Total intangible assets |  | $ | 97,723 |  |  |  |  |
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 June 29, 2014 |  |  | Six Months Ended June 29, 2014 |
|  | (In thousands, except per share data) |
|  | (Unaudited) |
Revenues |  | $ | 614,635 |  |  | $ | 1,178,259 |
Income from continuing operations |  |  | 10,718 |  |  |  | 12,625 |
Diluted income per share from continuing operations |  | $ | 0.24 |  |  | $ | 0.29 |

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