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Business Acquisition (Tables) | 3 Months Ended
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Apr. 01, 2017
Business Combinations [Abstract] |
Components of Fair Value of Total Purchase Consideration | The fair value of total purchase consideration consisted of the following:
Cash |  | $ | 201,020 |
Fair value of contingent consideration |  |  | 35,077 |
Post closing adjustment for working capital |  |  | 500 |
Total purchase consideration |  |  | 236,597 |
Less: cash acquired |  |  | (964 | )
Total purchase consideration, net of cash acquired |  | $ | 235,633 |
Schedule of Preliminary Allocation of Total Purchase Price, Net of Cash Acquired | The preliminary allocation of the total purchase price, net of cash acquired, is as follows:
Accounts receivable |  | $ | 9,502 |
Inventories |  |  | 16,979 |
Other current assets |  |  | 176 |
Property, plant and equipment |  |  | 10,546 |
Goodwill |  |  | 99,167 |
Intangible assets |  |  | 108,070 |
Other assets |  |  | 8 |
Total assets acquired |  |  | 244,448 |
Accounts payable |  |  | (3,260 | )
Accrued expenses and other liabilities |  |  | (3,745 | )
Deferred income taxes |  |  | (1,810 | )
Total liabilities assumed |  |  | (8,815 | )
Fair value of net assets acquired |  | $ | 235,633 |
Schedule of Preliminary Fair Value of Identified Intangible Assets and Useful Lives | The preliminary fair value of identified intangible assets and their respective useful lives are as follows:
|  | Fair Value |  |  | Weighted- Average Amortization Periods (Yrs) |
Brands |  | $ | 30,000 |  |  |  | 20 |
Non-compete Agreements |  |  | 950 |  |  |  | 5 |
Technology |  |  | 17,500 |  |  |  | 9 |
Supply Agreement |  |  | 21,000 |  |  |  | 10 |
Sales Order Backlog |  |  | 620 |  |  |  | 1 |
Customer Relationships |  |  | 38,000 |  |  |  | 20 |
Identified intangible assets |  | $ | 108,070 |  |  |  | 16 |
Summary of Pro forma Financial Information | Consequently, actual results will differ from the unaudited pro forma information presented below:
|  | Three months ended |
|  | April 2, 2016 |
Net sales |  | $ | 70,855 |
Operating income |  |  | 13,765 |
Net income |  |  | 9,105 |
Basic and diluted net income per common share |  |  | 0.34 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
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