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Acquisitions (Tables) | 9 Months Ended
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Sep. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated, preliminary fair values of the assets acquired and liabilities assumed for Precision as of the acquisition date (in thousands):
Receivables |  | $ | 18,562 |
Inventory |  | 9,215 |
Other current assets |  | 2,352 |
Property, plant and equipment |  | 5,330 |
Intangible assets |  | 162,000 |
Goodwill |  | 144,690 |
Operating lease right-of-use assets |  | 3,272 |
Total assets acquired |  | $ | 345,421 |
Accounts payable |  | $ | 11,452 |
Accrued liabilities |  | 3,922 |
Deferred income taxes |  | 37,507 |
Long-term operating lease liabilities |  | 2,950 |
Total liabilities assumed |  | $ | 55,831 |
Net assets |  | $ | 289,590 |
Schedule of Acquired Intangible Assets | 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 |  | $ | 24,700 |  |  | 5.0
Customer relationships |  | 122,800 |  |  | 20.0
Trademarks |  | 3,100 |  |  | 2.5
Non-compete agreements |  | 11,400 |  |  | 5.0
Total intangible assets subject to amortization |  | $ | 162,000 |  |  |
Intangible assets not subject to amortization: |  |  |  |
Goodwill |  | $ | 144,690 |  |  | n/a
Total intangible assets not subject to amortization |  | $ | 144,690 |  |  |
Total intangible assets |  | $ | 306,690 |  |  |
Weighted average amortization period |  |  |  | 16.3
Schedule of Pro Forma Information | The following table illustrates the unaudited pro forma effect on operating results as if the Precision acquisition had been completed as of January 1, 2023.
| Three Months Ended |  | Nine Months Ended
| September 29, 2024 |  | October 1, 2023 |  | September 29, 2024 |  | October 1, 2023
| (In thousands, except per share data)
| (Unaudited)
Revenues | $ | 654,926 |  |  | $ | 667,789 |  |  | $ | 1,865,778 |  |  | $ | 2,057,521 |
Net income attributable to Belden stockholders | 57,021 |  |  | 74,122 |  |  | 140,744 |  |  | 200,609 |
Diluted income per share attributable to Belden stockholders | $ | 1.38 |  |  | $ | 1.74 |  |  | $ | 3.40 |  |  | $ | 4.65 |

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + 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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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