Acquisition (Tables)

9 Months Ended

Sep. 28, 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 is substantially complete but remains subject to change as the Company continues to refine its valuation of certain acquired assets and liabilities, primarily related to the finalization of income taxes.



(In thousands)	Total
Net Assets Acquired:
Cash, Cash Equivalents, and Restricted Cash	$	2,431
Accounts Receivable	10,275
Inventory	13,061
Other Current Assets	900
Property, Plant, and Equipment	7,085
Other Assets	11,083
Definite-Lived Intangible Assets
Customer relationships	58,300
Product technology	11,000
Other	4,220
Indefinite-Lived Intangible Assets
Tradenames	9,500
Goodwill	80,296
Total assets acquired	208,151

Accounts Payable	3,380
Other Current Liabilities	7,954
Long-Term Lease Liabilities	15,244
Long-Term Deferred Income Taxes	2,287
Total liabilities assumed	28,865
Net assets acquired	$	179,286

Purchase Price:
Cash Paid to Seller Borrowed Under Revolving Credit Facility	$	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- and nine-month periods ended September 28, 2019 and September 29, 2018 would have been as follows:



	Three Months Ended				Nine Months Ended
(In thousands, except per share amounts)	September 28, 2019		September 29, 2018		September 28, 2019		September 29, 2018
Revenues	$	173,504	$	187,084	$	521,985	$	533,868
Net Income Attributable to Kadant	$	16,167	$	18,564	$	47,515	$	38,158
Earnings per Share Attributable to Kadant:
Basic	$	1.43	$	1.67	$	4.24	$	3.44
Diluted	$	1.41	$	1.63	$	4.16	$	3.35