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ACQUISITIONS (Tables) | 9 Months Ended
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Oct. 04, 2014
Changes to Goodwill From Acquisition | The table below presents the changes to goodwill from December 28, 2013 to October 4, 2014 for the Acquired Hostess Bread Assets (amounts in thousands):
Goodwill reported on December 28, 2013 for the Acquired Hostess Bread Assets |  | $ | 5,419 |
Changes in goodwill for spare parts and final fair value adjustments |  |  | (3,503 | )
Changes in goodwill for property, plant and equipment final fair value adjustments |  |  | 6,683 |
Net changes to goodwill |  | $ | 3,180 |
Final Acquired Hostess Bread Assets goodwill |  | $ | 8,599 |
Summary of Potential Payment of Holdback Amount | The table below reflects the potential payments to us under each scenario (amounts in thousands):
|  | February 23, 2013 – November 20, 2013 |  |  | November 21, 2013 – February 18, 2014 |  |  | February 19, 2014 – May 19, 2014 |  |  | May 20, 2014 – August 17, 2014 |
Co-pack decision |  | $ | 10,000 |  |  | $ | 7,500 |  |  | $ | 5,000 |  |  | $ | — |
Bakery decision |  | $ | 10,000 |  |  | $ | 10,000 |  |  | $ | 7,500 |  |  | $ | 5,000 |
Pro Forma Consolidated Results of Operations | The following unaudited pro forma consolidated results of operations have been prepared as if the acquisition of the Acquired Hostess Bread Assets occurred at the beginning of fiscal 2013. The acquisition was cycled early in our third quarter and is not applicable to the twelve weeks results. Unaudited pro forma consolidated results of operations for the Sara Lee and Earthgrains asset acquisitions are not included because the company determined that it is immaterial to our Condensed Consolidated Statements of Income (amounts in thousands, except per share data).
|  | For the Forty Weeks Ended October 5, 2013 |
Sales: |  |  |  |
As reported |  | $ | 2,907,455 |
Pro forma |  | $ | 2,907,455 |
Net income: |  |  |  |
As reported |  | $ | 192,374 |
Pro forma |  | $ | 187,087 |
Basic net income per common share: |  |  |  |
As reported |  | $ | 0.93 |
Pro forma |  | $ | 0.90 |
Diluted net income per common share: |  |  |  |
As reported |  | $ | 0.91 |
Pro forma |  | $ | 0.88 |
Acquired Hostess Bread Asset |
Schedule of Identified Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid for the Acquired Hostess Bread Assets and liabilities assumed based on the fair value at the acquisition date (amounts in thousands):
Fair value of consideration transferred: |  |  |  |
Cash consideration transferred |  | $ | 355,342 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |
Property, plant, and equipment |  | $ | 153,990 |
Identifiable intangible asset — trademarks |  |  | 189,000 |
Financial assets |  |  | 5,153 |
Net recognized amounts of identifiable assets acquired |  | $ | 348,143 |
Gain on legal settlement |  |  | (1,400 | )
Net recognized amounts of identifiable assets acquired and gain on settlement |  | $ | 346,743 |
Goodwill |  | $ | 8,599 |
Sara Lee and Earthgrains acquisition of trademark licenses |
Schedule of Identified Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid to acquire these licenses and the amounts of identified assets acquired and liabilities assumed based on the fair value at the acquisition date (amounts in thousands):
Fair value of consideration transferred: |  |  |  |
Cash consideration transferred |  | $ | 49,950 |
Contingently refundable consideration (the “holdback”) |  |  | (7,600 | )
Total consideration, net |  | $ | 42,350 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |
Property, plant, and equipment |  | $ | 6,476 |
Identifiable intangible asset — distribution rights |  |  | 25,790 |
Identifiable intangible asset — trademarks |  |  | 79,500 |
Identifiable intangible asset — customer relationships |  |  | 12,000 |
Deferred income taxes, net |  |  | (31,345 | )
Net recognized amounts of identifiable assets acquired |  | $ | 92,421 |
Bargain purchase gain |  | $ | 50,071 |

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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472 + Details
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