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Business Combinations (Tables) | 9 Months Ended
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Sep. 28, 2018
Business Combinations [Abstract] |
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation | Based upon a preliminary valuation, the total purchase price was allocated as follows (in thousands):
| Purchase Price |
| Allocation |
Cash | $ | 3,776 |
Accounts receivable |  | 2,237 |
Inventories |  | 928 |
Property, plant and equipment |  | 2,590 |
Intangible assets |  | 14,585 |
Goodwill |  | 11,649 |
Other assets |  | 145 |
Total assets acquired |  | 35,910 |
Accounts payable |  | 509 |
Accrued expenses and other liabilities |  | 894 |
Deferred tax liabilities |  | 2,481 |
Total liabilities assumed |  | 3,884 |
Total assets acquired, net of liabilities assumed |  | 32,026 |
Less: cash acquired |  | 3,776 |
Total purchase price, net of cash acquired | $ | 28,250 |
Fair Value of Intangible Assets | The fair value of intangible assets is comprised of the following (dollar amounts in thousands):
|  |  |  |  | Weighted Average
| Estimated Fair |  |  | Amortization
| Value |  |  | Period
Developed technologies | $ | 3,027 |  |  | 10 years
Customer relationships |  | 9,494 |  |  | 15 years
Trademarks and trade names |  | 550 |  |  | 10 years
Backlog |  | 1,514 |  |  | 1 year
Total | $ | 14,585 |  |  |
Summary of Unaudited Pro Forma Financial Information | The unaudited pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisition had taken place on January 1, 2016.
| Three Months Ended |  |  | Nine Months Ended |
| September 29, |  |  | September 29, |
| 2017 |  |  | 2017 |
Revenue | $ | 146,296 |  |  | $ | 415,134 |
Consolidated net income | $ | 12,547 |  |  | $ | 56,754 |
Earnings per share attributable to Novanta Inc. – Basic | $ | 0.12 |  |  | $ | 1.26 |
Earnings per share attributable to Novanta Inc. – Diluted | $ | 0.12 |  |  | $ | 1.25 |

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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 a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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