Acquisition (Tables)

3 Months Ended

Mar. 30, 2019

Summary of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of assets acquired and liabilities assumed and the purchase price for SMH. The final purchase accounting and purchase price allocation remain subject to change as the Company continues to refine its preliminary valuation of certain acquired assets and the valuation of acquired intangibles.



(In thousands)
Net Assets Acquired:
Cash, Cash Equivalents, and Restricted Cash	$	2,431
Accounts Receivable	10,271
Inventory	12,982
Other Current Assets	900
Property, Plant, and Equipment	7,730
Other Assets	10,994
Definite-Lived Intangible Assets
Customer relationships	52,900
Product technology	10,500
Other	4,040
Indefinite-Lived Intangible Assets
Tradenames	9,700
Goodwill	86,502
Total assets acquired	208,950

Accounts Payable	4,663
Customer Deposits	2,919
Other Current Liabilities	3,724
Long-Term Lease Liabilities	15,244
Long-Term Deferred Income Taxes	3,114
Total liabilities assumed	29,664
Net assets acquired	$	179,286

Purchase Price:
Cash Paid to Seller Borrowed Under Revolving Credit Facility	$	177,719
Post-Closing Adjustment to be Paid to Seller	1,567
Total Purchase Price	$	179,286

Unaudited Supplemental Pro Forma Information

Had the acquisition of SMH been completed as of the beginning of 2018, the Company’s pro forma results of operations for the three months ended March 30, 2019 and March 31, 2018 would have been as follows:



	Three Months Ended
(In thousands, except per share amounts)	March 30, 2019		March 31, 2018
Revenues	$	171,316	$	170,532
Net Income Attributable to Kadant	$	14,112	$	8,475
Earnings per Share Attributable to Kadant:
Basic	$	1.27	$	0.77
Diluted	$	1.24	$	0.75