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Acquisitions (Tables)

3 Months Ended

Sep. 30, 2017

Conexant Systems, LLC [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the provisional amounts recorded for the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions):

Cash		$	4.3
Accounts receivable			11.6
Inventory			51.7
Other current assets			1.4
Property and equipment			3.2
Acquired intangible assets			152.5
Other assets			0.9
Total identifiable assets acquired			225.6
Accounts payable			14.2
Accrued compensation			1.1
Other accrued liabilities			3.8
Other long-term liabilities			3.0
Net identifiable assets acquired			203.5
Goodwill			142.2
Net assets acquired		$	345.7

Summary of Unaudited Pro Forma Financial Information Presents Combined Results of Operations

The following unaudited pro forma financial information (in millions, except per share data) presents the combined results of operations for us and Conexant as if the Conexant Acquisition had occurred on June 30, 2016. The unaudited pro forma financial information has been prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the Conexant Acquisition actually taken place on June 30, 2016, and should not be taken as indicative of future consolidated operating results. Additionally, the unaudited pro forma financial results do not include any anticipated synergies or other expected benefits from the acquisition.

		Three Months Ended
		September 30,
		2017				2016
Revenue		$	425.5			$	414.6
Net loss			(28.2	)			(0.9	)
Net loss per share			(0.84	)			(0.03	)

Summary of Pro Forma Adjustments Used to Arrive Pro Forma Net Income

Pro forma adjustments used to arrive at pro forma net income for the three months ended September 30, 2017 and 2016, were as follows (in millions):

		Three Months Ended
		September 30,
		2017				2016
Buyer transaction costs		$	0.9			$	-
Interest expense			-				(4.6	)
Intangible amortization			(2.3	)			(7.3	)
Depreciation							(0.2	)
Income tax adjustment			0.5				4.2
Total		$	(0.9	)		$	(7.9	)

Marvell Technology Group Ltd [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the provisional amounts recorded for the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions):

Inventory		$	28.4
Property and equipment			5.0
Acquired intangible assets			45.6
Total identifiable assets acquired			79.0
Accrued liabilities			0.4
Net identifiable assets acquired			78.6
Goodwill			15.1
Net assets acquired		$	93.7

Summary of Unaudited Pro Forma Financial Information Presents Combined Results of Operations

The following unaudited pro forma financial information (in millions, except per share data) presents the combined results of operations for us and Marvell as if the Marvell Business Acquisition had occurred on June 30, 2016. The unaudited pro forma financial information has been prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the Marvell Business Acquisition actually taken place on June 30, 2016, and should not be taken as indicative of future consolidated operating results. Additionally, the unaudited pro forma financial results do not include any anticipated synergies or other expected benefits from the acquisition. As the Marvell Business Acquisition was an asset acquisition and only a portion of Marvell Multimedia Solutions Business was acquired, the unaudited pro forma financial information has been prepared using certain estimates.

		Three Months Ended
		September 30,
		2017				2016
Revenue		$	457.8			$	413.8
Net loss			(25.2	)			(0.6	)
Net loss per share			(0.75	)			(0.02	)

Summary of Pro Forma Adjustments Used to Arrive Pro Forma Net Income

Pro forma adjustments used to arrive at pro forma net income for the three months ended September 30, 2017 and 2016, were as follows (in millions):

		Three Months Ended
		September 30,
		2017				2016
Buyer transaction costs		$	0.9			$	-
Interest expense			-				(5.0	)
Intangible amortization			(1.2	)			(3.1	)
Income tax adjustment			0.1				2.8
Total		$	(0.2	)		$	(5.3	)

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Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(4)
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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
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+ 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=84161108&loc=d3e4845-128472

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