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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2014
Business Acquisition [Line Items] |
Unaudited pro forma consolidated results of operations information | The unaudited pro forma results are presented for illustrative purposes only and are not necessarily indicative of the results that would have actually been obtained if the acquisitions had occurred on the assumed dates, nor is the pro forma data intended to be a projection of results that may be obtained in the future:
|  | Year Ended |
|  | December 31, |
|  | 2014 |  |  | 2013 |
Revenue |  | $ | 629,132 |  |  | $ | 710,937 |
Net earnings |  |  | 11,705 |  |  |  | (65,299 | )
Earnings per Class A common share - basic and diluted |  |  | 0.94 |  |  |  | (5.52 | )
Earnings per Class B common share - basic and diluted |  |  | 1.02 |  |  |  | (5.77 | )
Power Solutions and Connectivity Solutions [Member] |
Business Acquisition [Line Items] |
Schedule of acquisition date fair values of assets acquired and liabilities assumed | The following table depicts the Company's current preliminary estimates of the respective acquisition date fair values of the consideration paid, identifiable net assets acquired and goodwill:
|  | Power Solutions |  |  |  | Connectivity Solutions |  |  |  | 2014 Acquisitions |
|  | June 19, |  |  |  | July 25/August 29, |  |  |  | Acquisition-Date |
|  | 2014 |  |  |  | 2014* |  |  |  | Fair Values |
|  | (As adjusted) |  |  |  | (As adjusted) |  |  |  | (As adjusted) |
Cash |  | $ | 20,912 |  |  |  | $ | 6,544 |  |  |  | $ | 27,456 |
Accounts receivable |  |  | 29,389 |  |  |  |  | 9,375 |  |  |  |  | 38,764 |
Inventories |  |  | 36,429 |  | (a) |  |  | 17,632 |  | (a) |  |  | 54,061 |
Other current assets |  |  | 7,350 |  |  |  |  | 2,615 |  |  |  |  | 9,965 |
Property, plant and equipment |  |  | 28,175 |  | (b) |  |  | 9,900 |  | (b) |  |  | 38,075 |
Intangible assets |  |  | 33,220 |  | (c) |  |  | 40,000 |  | (c) |  |  | 73,220 |
Other assets |  |  | 19,171 |  | (d) |  |  | 2,345 |  |  |  |  | 21,516 |
Total identifiable assets |  |  | 174,646 |  |  |  |  | 88,411 |  |  |  |  | 263,057 |
Accounts payable |  |  | (26,180 | ) |  |  |  | (10,682 | ) |  |  |  | (36,862 | )
Accrued expenses |  |  | (25,545 | ) | (e) |  |  | (5,307 | ) |  |  |  | (30,852 | )
Other current liabilities |  |  | 223 |  |  |  |  | (57 | ) |  |  |  | 166 |
Noncurrent liabilities |  |  | (42,062 | ) | (d)(e)(f) |  |  | (17,314 | ) |  |  |  | (59,376 | )
Total liabilities assumed |  |  | (93,564 | ) |  |  |  | (33,360 | ) |  |  |  | (126,924 | )
Net identifiable assets acquired |  |  | 81,082 |  |  |  |  | 55,051 |  |  |  |  | 136,133 |
Goodwill |  |  | 49,710 |  | (g) |  |  | 50,306 |  | (e) |  |  | 100,016 |
Net assets acquired |  | $ | 130,792 |  |  |  | $ | 105,357 |  |  |  | $ | 236,149 |
Cash paid |  | $ | 130,792 |  |  |  | $ | 105,357 |  |  |  | $ | 236,149 |
Assumption of liability |  |  | - |  |  |  |  | - |  |  |  |  | - |
Fair value of consideration |  |  |  |  |  |  |  |  |  |  |  |  |  |
transferred |  |  | 130,792 |  |  |  |  | 105,357 |  |  |  |  | 236,149 |
Deferred consideration |  |  | - |  |  |  |  | - |  |  |  |  | - |
Total consideration paid |  | $ | 130,792 |  |  |  | $ | 105,357 |  |  |  | $ | 236,149 |
* The Company acquired the U.S. and U.K. entities of Connectivity Solutions on July 25, 2014 and the China entity of Connectivity Solutions on August 29, 2014. These values represent the estimated fair values as of the respective acquisition dates.
(a) | The inventories noted include the following estimated net step-up in fair value:
|  | Estimated Net Step-Up in Fair Value |
Power Solutions |  | $ | 3,273 |
Connectivity Solutions |  |  | 2,651 |
2014 Acquisitions total |  | $ | 5,924 |
(b) | The property, plant and equipment noted above for Connectivity Solutions includes a $4.3 million step-up based on estimated acquisition-date fair value. There was no step-up for property, plant and equipment for Power Solutions since the estimated acquisition-date fair value approximated the carrying value of those assets.
(c) | The preliminary fair value of identifiable intangible assets related to the 2014 Acquired Companies is shown in the table below. For those intangible assets with finite lives, the acquisition-date fair values will be amortized over their respective estimated future lives utilizing the straight-line method.
|  | Acquisition-date Fair Values |  |
|  | Power Solutions |  |  | Connectivity Solutions |  |  | 2014 Acquisitions |  | Weighted-Average Life
Trademarks |  | $ | 890 |  |  | $ | 7,500 |  |  | $ | 8,390 |  | Indefinite
Customer relationships |  |  | 12,200 |  |  |  | 22,000 |  |  |  | 34,200 |  | 16 years
Technology |  |  | 7,800 |  |  |  | 9,000 |  |  |  | 16,800 |  | 14 years
License agreements |  |  | 11,800 |  |  |  | - |  |  |  | 11,800 |  | 8 years
Non-compete agreements |  |  | 530 |  |  |  | 1,500 |  |  |  | 2,030 |  | 3 years
Total intangible assets acquired |  | $ | 33,220 |  |  | $ | 40,000 |  |  | $ | 73,220 |  |
(d) | These amounts include a $12.0 million noncurrent liability and offsetting indemnification asset related to an ongoing claim by the Arezzo Revenue Agency in Italy concerning certain tax matters related to what was then Power-One Asia Pacific Electronics Shenzhen Co. Ltd. (now Bel Power Solutions Asia Pacific Electronics Shenzhen Co. Ltd.) for the years 2004 through 2006, as further described in Note 16.
(e) | The Company acquired a liability for uncertain tax positions related to various tax matters for the years 2007 through 2013. While resolution of these tax matters are being actively pursued with the applicable taxing authority, these issues remained unresolved as of the filing date of this Annual Report on Form 10-K.
(f) | Deferred taxes have been established on the previously-mentioned step-ups for inventories, property, plant and equipment and intangible assets.
(g) | The amount of goodwill is provisional as of the filing date, as the fair value determination of inventories acquired, and appraisals related to property, plant and equipment, various intangible assets and certain liabilities such as lease liabilities is still under review. The portion of goodwill, if any, that will be deductible for tax purposes is yet to be determined.
Fair value of identifiable intangible assets |
|  | Acquisition-date Fair Values |  |
|  | Power Solutions |  |  | Connectivity Solutions |  |  | 2014 Acquisitions |  | Weighted-Average Life
Trademarks |  | $ | 890 |  |  | $ | 7,500 |  |  | $ | 8,390 |  | Indefinite
Customer relationships |  |  | 12,200 |  |  |  | 22,000 |  |  |  | 34,200 |  | 16 years
Technology |  |  | 7,800 |  |  |  | 9,000 |  |  |  | 16,800 |  | 14 years
License agreements |  |  | 11,800 |  |  |  | - |  |  |  | 11,800 |  | 8 years
Non-compete agreements |  |  | 530 |  |  |  | 1,500 |  |  |  | 2,030 |  | 3 years
Total intangible assets acquired |  | $ | 33,220 |  |  | $ | 40,000 |  |  | $ | 73,220 |  |
TRP and Array [Member] |
Business Acquisition [Line Items] |
Schedule of acquisition date fair values of assets acquired and liabilities assumed | The following table depicts the finalized respective acquisition date fair values of the consideration paid and identifiable net assets acquired:
|  | TRP |  |  | Array |  |  | 2013 Acquisitions |
|  | March 29, |  |  | August 20, |  |  | Acquisition-Date |
|  | 2013 |  |  | 2013 |  |  | Fair Values |
|  | (As finalized) |  |  | (As finalized) |  |  | (As finalized) |
Cash |  | $ | 8,388 |  |  | $ | - |  |  | $ | 8,388 |
Accounts receivable |  |  | 11,541 |  |  |  | 994 |  |  |  | 12,535 |
Inventories |  |  | 7,355 |  |  |  | 993 |  |  |  | 8,348 |
Other current assets |  |  | 1,619 |  |  |  | 428 |  |  |  | 2,047 |
Property, plant and equipment |  |  | 5,790 |  |  |  | 3,510 |  |  |  | 9,300 |
Intangible assets |  |  | 6,110 |  |  |  | 1,470 |  |  |  | 7,580 |
Other assets |  |  | 1,349 |  |  |  | 1,747 |  |  |  | 3,096 |
Total identifiable assets |  |  | 42,152 |  |  |  | 9,142 |  |  |  | 51,294 |
Accounts payable |  |  | (8,234 | ) |  |  | (676 | ) |  |  | (8,910 | )
Accrued expenses |  |  | (4,465 | ) |  |  | (285 | ) |  |  | (4,750 | )
Other current liabilities |  |  | (759 | ) |  |  | - |  |  |  | (759 | )
Noncurrent liabilities |  |  | (586 | ) |  |  | (1,748 | ) |  |  | (2,334 | )
Total liabilities assumed |  |  | (14,044 | ) |  |  | (2,709 | ) |  |  | (16,753 | )
Net identifiable assets acquired |  |  | 28,108 |  |  |  | 6,433 |  |  |  | 34,541 |
Goodwill |  |  | 1,240 |  |  |  | 3,572 |  |  |  | 4,812 |
Net assets acquired |  | $ | 29,348 |  |  | $ | 10,005 |  |  | $ | 39,353 |
Fair value of consideration transferred |  | $ | 29,348 |  |  | $ | 10,005 |  |  | $ | 39,353 |

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