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Acquisitions (Tables) | 6 Months Ended
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Jun. 28, 2020
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed as of April 15, 2019 (in thousands):
Receivables |  | $ | 5,308 |
Inventory |  | 7,359 |
Prepaid and other current assets |  | 566 |
Property, plant, and equipment |  | 1,328 |
Intangible assets |  | 28,000 |
Goodwill |  | 35,057 |
Deferred income taxes |  | 80 |
Operating lease right-to-use assets |  | 2,204 |
Other long-lived assets |  | 2,070 |
Total assets acquired |  | $ | 81,972 |
Accounts payable |  | $ | 4,847 |
Accrued liabilities |  | 4,301 |
Long-term deferred tax liability |  | 6,813 |
Long-term operating lease liability |  | 1,923 |
Other long-term liabilities |  | 7,152 |
Total liabilities assumed |  | $ | 25,036 |
Net assets |  | 56,936 |
Noncontrolling interests |  | 5,195 |
Net assets attributable to Belden |  | $ | 51,741 |
Schedule of Acquired Intangible Assets | The goodwill is primarily attributable to expansion of product offerings in the optical fiber market. Our tax basis in the acquired goodwill is zero. 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 |  | $ | 3,400 |  |  | 5.0
Customer relationships |  | 22,800 |  |  | 15.0
Sales backlog |  | 1,300 |  |  | 0.5
Trademarks |  | 500 |  |  | 2.0
Total intangible assets subject to amortization |  | $ | 28,000 |  |  |
Intangible assets not subject to amortization: |  |  |  |
Goodwill |  | $ | 35,057 |  |  | n/a
Total intangible assets not subject to amortization |  | $ | 35,057 |  |  |
Total intangible assets |  | $ | 63,057 |  |  |
Weighted average amortization period |  |  |  | 12.9
Schedule of Pro Forma Information | The following table illustrates the unaudited pro forma effect on operating results as if the Opterna acquisition had been completed as of January 1, 2018.
|  | Three Months Ended |  | Six Months Ended
|  | June 30, 2019 |  | June 30, 2019
|  | (In thousands, except per share data) |  |
|  | (Unaudited) |  |
Revenues |  | $ | 548,352 |  |  | $ | 1,057,108 |
Net income from continuing operations attributable to Belden common stockholders |  | 35,150 |  |  | 54,393 |
Diluted income from continuing operations per share attributable to Belden common stockholders |  | $ | 0.89 |  |  | $ | 1.38 |

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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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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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