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Acquisitions (Tables) | 9 Months Ended
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Oct. 01, 2016
Pacific Brands |
Business Acquisition [Line Items] |
Schedule of acquired assets and liabilities assumed | The acquired assets and assumed liabilities at the date of acquisition (July 14, 2016) include the following:
Cash and cash equivalents | $ | 54,294 |
Accounts receivable, net | 36,019 |
Inventories | 104,806 |
Other current assets | 16,588 |
Current assets of discontinued operations | 28,970 |
Property, net | 41,221 |
Trademarks and other identifiable intangibles | 506,170 |
Deferred tax assets and other noncurrent assets | 11,472 |
Total assets acquired | 799,540 |
Accounts payable | 89,309 |
Accrued liabilities and other | 22,838 |
Current liabilities of discontinued operations | 14,564 |
Long-term debt | 41,976 |
Deferred tax liabilities and other noncurrent liabilities | 16,130 |
Total liabilities assumed | 184,817 |
Net assets acquired | 614,723 |
Goodwill | 186,148 |
Purchase price | $ | 800,871 |
Champion Europe |
Business Acquisition [Line Items] |
Schedule of acquired assets and liabilities assumed | The acquired assets, contingent consideration and assumed liabilities at the date of acquisition (June 30, 2016) include the following:
Cash and cash equivalents | $ | 14,581 |
Trade accounts receivable, net | 27,926 |
Inventories | 53,816 |
Other current assets | 5,976 |
Property, net | 24,605 |
Trademarks and other identifiable intangibles | 135,277 |
Deferred tax assets and other noncurrent assets | 3,777 |
Total assets acquired | 265,958 |
Accounts payable | 66,594 |
Accrued liabilities and other (including contingent consideration) | 60,298 |
Notes payable | 27,748 |
Deferred tax liabilities and other noncurrent liabilities | 20,282 |
Total liabilities assumed and contingent consideration | 174,922 |
Net assets acquired | 91,036 |
Goodwill | 108,756 |
Initial consideration paid | 199,792 |
Estimated contingent consideration | 45,277 |
Total purchase price | $ | 245,069 |
Pacific Brands and Champion Europe, Combined |
Business Acquisition [Line Items] |
Pro forma information | naudited pro forma results of operations for the Company are presented below assuming that the 2016 acquisition of Pacific Brands and Champion Europe had occurred on January 4, 2015. Pro forma operating results for the quarter and nine months ended October 3, 2015 include a benefit totaling $389 and include expenses totaling $7,969, respectively, for acquisition-related adjustments primarily related to inventory and stock compensation.
| Quarter Ended |  | Nine Months Ended
| October 1, 2016 |  | October 3, 2015 |  | October 1, 2016 |  | October 3, 2015
Net sales | $ | 1,780,530 |  |  | $ | 1,774,558 |  |  | $ | 4,859,619 |  |  | $ | 4,884,041 |
Net income from continuing operations | 172,040 |  |  | 171,592 |  |  | 448,589 |  |  | 312,519 |
Earnings per share from continuing operations: |  |  |  |  |  |  |
Basic | $ | 0.45 |  |  | $ | 0.43 |  |  | $ | 1.17 |  |  | $ | 0.78 |
Diluted | 0.45 |  |  | 0.43 |  |  | 1.16 |  |  | 0.78 |
Knights Apparel |
Business Acquisition [Line Items] |
Pro forma information |
| Quarter Ended |  | Nine Months Ended
| October 3, 2015 |  | October 3, 2015
Net sales | $ | 1,591,038 |  |  | $ | 4,344,149 |
Net income from continuing operations | 163,327 |  |  | 313,919 |
Earnings per share from continuing operations: |  |  |
Basic | $ | 0.41 |  |  | $ | 0.78 |
Diluted | 0.41 |  |  | 0.77 |

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