XML 36 R23.htm IDEA: XBRL DOCUMENT v3.21.2
Acquisition (Tables)
 9 Months Ended
Oct. 02, 2021
Business Combination and Asset Acquisition [Abstract]  
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 Clouth and Balemaster.

(In thousands)ClouthBalemaster Total
Net Assets Acquired:
Cash and Cash Equivalents$4,666 $3,757 $8,423 
Accounts Receivable6,863 1,593 8,456 
Inventories15,770 3,993 19,763 
Other Current Assets1,467 36 1,503 
Property, Plant, and Equipment24,508 4,232 28,740 
Other Assets3,923 195 4,118 
Definite-Lived Intangible Assets
Customer relationships19,838 21,800 41,638 
Product technology8,914 2,600 11,514 
Tradenames— 1,400 1,400 
Other402 1,460 1,862 
Indefinite-Lived Intangible Assets
Tradenames4,959 — 4,959 
Goodwill25,349 27,699 53,048 
Total assets acquired116,659 68,765 185,424 
Short-term Obligations and Current Maturities of Long-term Obligations1,320 — 1,320 
Accounts Payable1,452 743 2,195 
Other Current Liabilities4,557 3,900 8,457 
Long-Term Deferred Income Taxes10,060 6,423 16,483 
Long-Term Obligations4,141 — 4,141 
Other Long-term Liabilities2,797 195 2,992 
Total liabilities assumed24,327 11,261 35,588 
Net assets acquired$92,332 $57,504 $149,836 
Purchase Price:
Cash Paid$92,332 $57,504 $149,836 
Unaudited Supplemental Pro Forma Information
Had the acquisition of Clouth been completed as of the beginning of 2020, the Company’s pro forma results of operations for the three- and nine-month periods ended October 2, 2021 and September 26, 2020 would have been as follows:

Three Months EndedNine Months Ended
October 2,
2021		September 26,
2020		October 2,
2021		September 26,
2020
(In thousands, except per share amounts)
Revenue$201,372 $166,687 $593,500 $501,484 
Net Income Attributable to Kadant$22,125 $17,013 $64,102 $37,106 
Earnings per Share Attributable to Kadant
Basic$1.91 $1.48 $5.54 $3.23 
Diluted$1.90 $1.47 $5.51 $3.21