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ACQUISITIONS AND STRATEGIC INVESTMENTS (Tables) | 6 Months Ended
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Sep. 28, 2024
Investments, All Other Investments [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The preliminary purchase price of $176.2 million, net of $11.5 million of cash acquired, consists of the amounts presented below, which represent the preliminary determination of the fair value of the identifiable assets acquired and liabilities assumed:
(In thousands) | April 1, 2024
Accounts receivable | $ | 3,784 |
Inventories | 26,300 |
Prepaid expenses and other current assets | 906 |
Property, plant and equipment | 200 |
Intangible assets | 105,800 |
Goodwill | 70,256 |
Total assets acquired | $ | 207,246 |
Accounts payable | 2,260 |
Accrued payroll and related costs | 2,129 |
Other liabilities | 496 |
Deferred tax liability | 26,155 |
Total liabilities assumed | $ | 31,040 |
Net assets acquired | $ | 176,206 |
The purchase price of $243.9 million, net of $10.6 million of cash acquired, consists of the amounts presented below, which represent the final determination of the fair value of the identifiable assets acquired and liabilities assumed:
(In thousands) | December 12, 2023
Accounts receivable | $ | 5,960 |
Inventories | 12,075 |
Prepaid expenses and other current assets | 2,062 |
Property, plant and equipment | 3,028 |
Intangible assets | 172,000 |
Goodwill | 79,400 |
Other long-term assets | 4,705 |
Total assets acquired | $ | 279,230 |
Accounts payable | 3,251 |
Accrued payroll and related costs | 1,723 |
Other liabilities | 9,746 |
Deferred tax liability | 14,805 |
Other long-term liabilities | 5,853 |
Total liabilities assumed | $ | 35,378 |
Net assets acquired | $ | 243,852 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | Intangible assets acquired consist of the following:
(In thousands) | Amount | Weighted-Average Amortization Period | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Developed technology | $ | 96,100 |  | 10 years | 22.0 | %
Customer contracts and related relationships | 7,800 |  | 10 years | 21.5 | %
Trade names | 1,900 |  | 10 years | 21.5 | %
Total | $ | 105,800 |  |  |
Intangible assets acquired consist of the following:
(In thousands) | Amount | Weighted-Average Amortization Period | Risk-Adjusted Discount Rates used in Purchase Price Allocation
Developed technology | $ | 114,900 |  | 15 years | 20.5 | %
Customer contracts and related relationships | 52,300 |  | 15 years | 18.9 | %
Trade names | 4,800 |  | 15 years | 20.5 | %
Total | $ | 172,000 |  |  |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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