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Acquisitions (Tables) | 3 Months Ended
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Apr. 01, 2022
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The preliminary purchase price allocation for the acquisition is as follows:
(Thousands) |  | November 1, 2021
Assets: |  |
Cash and cash equivalents |  | $ | 3,685 |
Accounts receivable |  | 28,352 |
Inventories |  | 70,681 |
Prepaid and other current assets |  | 660 |
Property, plant, and equipment |  | 44,681 |
Operating lease, right-of-use assets |  | 6,120 |
Intangible assets |  | 107,800 |
Other long-term assets |  | 4,528 |
Goodwill |  | 178,181 |
Total assets acquired |  | $ | 444,688 |
Liabilities: |  |
Accounts payable |  | $ | 12,139 |
Salaries and wages |  | 2,516 |
Other liabilities and accrued items |  | 28 |
Income taxes |  | 2,183 |
Other long-term liabilities |  | 5,543 |
Operating lease liabilities |  | 6,042 |
Deferred income taxes |  | 20,300 |
Total liabilities assumed |  | $ | 48,751 |
Net assets acquired |  | $ | 395,937 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table reports the intangible assets by asset category as of the closing date:
(Thousands) |  | Value at Acquisition |  | Useful Life
Customer relationships |  | $ | 50,200 |  |  | 13 years
Technology |  | 35,300 |  |  | 13 years
Trade name |  | 22,300 |  |  | 15 years
Total |  | $ | 107,800 |  |  |
Business Acquisition, Pro Forma Information | Had the HCS-Electronic Materials acquisition occurred as of the beginning of fiscal 2020, the Company's sales and income (loss) before taxes would have been as follows:
| (Unaudited)
| Three months ended
| April 2, 2021
Net Sales | $ | 385,384 |
Profit income (loss) before taxes | $ | 18,997 |

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