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v3.19.1

Business Acquisitions (Tables) | 3 Months Ended
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Mar. 30, 2019
Summary of Pro forma Financial Information | Consequently, actual results will differ from the unaudited pro forma information presented below.
|  | Three months ended |
|  | March 31, 2018 |
Net sales |  | $ | 138,258 |
Operating income |  |  | 25,982 |
Net income |  |  | 14,874 |
Basic and diluted net income per common share |  |  | 0.47 |
Faster S.r.l [Member] |
Components of Fair Value of Total Purchase Consideration | The fair value of total purchase consideration consisted of the following:
Cash |  | $ | 532,408 |
Acquisition date fair value of contingent consideration |  |  | 938 |
Total purchase consideration |  |  | 533,346 |
Less: cash acquired |  |  | (5,265 | )
Total purchase consideration, net of cash acquired |  | $ | 528,081 |
Schedule of Allocation of Total Purchase Price, Net of Cash Acquired | The purchase price was allocated to tangible and intangible assets acquired and liabilities assumed based on their estimated fair values. The allocation of the total purchase price, net of cash acquired, is as follows:
Accounts receivable |  | $ | 24,638 |
Inventories |  |  | 34,835 |
Other current assets |  |  | 6,661 |
Property, plant and equipment |  |  | 20,242 |
Goodwill |  |  | 288,449 |
Intangible assets |  |  | 248,823 |
Other assets |  |  | 7,040 |
Total assets acquired |  |  | 630,688 |
Accounts payable |  |  | (18,668 | )
Accrued expenses |  |  | (12,223 | )
Incomes taxes payable |  |  | (4,862 | )
Other current liabilities |  |  | (1,289 | )
Other noncurrent liabilities |  |  | (65,565 | )
Total liabilities assumed |  |  | (102,607 | )
Fair value of net assets acquired |  | $ | 528,081 |
Schedule of Fair Value of Identified Intangible Assets and Useful Lives | The fair value of identified intangible assets and their respective useful lives are as follows:
|  | Fair Value |  |  | Weighted- Average Amortization Periods (Yrs) |
Trade name |  | $ | 25,740 |  |  |  | 18 |
Technology |  |  | 13,483 |  |  |  | 13 |
Customer relationships |  |  | 202,245 |  |  |  | 26 |
Sales order backlog |  |  | 7,355 |  |  |  | 0.4 |
Identified intangible assets |  | $ | 248,823 |  |  |  | 24 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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