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ACQUISITIONS (Tables) | 12 Months Ended
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Apr. 03, 2021
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The preliminary purchase price of $442.5 million, net of $47.3 million of cash acquired, consisted of the amounts presented below, which represent the preliminary determination of the fair value of the identifiable assets acquired and liabilities assumed:
(In thousands) | March 1, 2021
Accounts receivable | $ | 7,304 |
Inventories | 18,765 |
Prepaid expenses and other current assets | 850 |
Property, plant and equipment | 1,186 |
Intangible assets | 253,929 |
Goodwill | 251,635 |
Other long-term assets | 1,868 |
Total assets acquired | $ | 535,537 |
Accounts payable | 3,292 |
Accrued payroll and related costs | 58,211 |
Other liabilities | 1,853 |
Deferred tax liability | 27,912 |
Other long-term liabilities | 1,772 |
Total liabilities assumed | $ | 93,040 |
Net assets acquired | $ | 442,497 |
Intangible assets acquired consist of the following:
(In thousands) | Amount | Weighted-Average Amortization Period | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Completed technology | $ | 230,326 |  | 13 years | 13.5 | %
Customer relationships | 18,166 |  | 12 years | 13.0 | %
Trademarks | 5,437 |  | 13 years | 13.5 | %
Total | $ | 253,929 |  |  |
The following amounts represent the fair value of the identifiable assets acquired and liabilities assumed for enicor completed during the fiscal 2021:
(In thousands) |  | April 1, 2020
Inventory |  | $ | 634 |
Other current assets |  | 685 |
Property, plant and equipment |  | 289 |
Intangible assets |  | 14,090 |
Goodwill |  | 8,153 |
Total assets acquired |  | $ | 23,851 |
Other current liabilities |  | 289 |
Deferred tax liability |  | 3,036 |
Total liabilities assumed |  | $ | 3,325 |
Net assets acquired |  | $ | 20,526 |
Intangible assets acquired consist of the following:
(In thousands) |  | Amount |  | Weighted-Average Amortization Period |  | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Completed technology |  | $ | 13,441 |  |  | 10 Years |  | 20 | %
Customer relationships |  | 347 |  |  | 10 Years |  | 20 | %
Trademark |  | 302 |  |  | 10 Years |  | 20 | %
Total |  | $ | 14,090 |  |  |  |  |
Business Acquisition, Pro Forma Information |
(In thousands) (Unaudited) | 2021 |  | 2020
Net revenues | $ | 916,601 |  |  | $ | 1,024,235 |
Net income | $ | 53,884 |  |  | $ | 19,191 |

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