XML 46 R33.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Acquisitions (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Business Combinations [Abstract] |
Schedule of assets acquired and liabilities assumed | The following table represents the fair values assigned to the acquired assets and liabilities assumed in the transaction:
(Dollars in thousands) | July 6, 2018
Assets: |
Accounts receivable, less allowance for doubtful accounts | $ | 2,553 |
Inventories | 2,998 |
Other current assets | 154 |
Property, plant & equipment | 7,554 |
Other intangible assets | 34,120 |
Goodwill | 32,305 |
Total assets | 79,684 |
Liabilities: |  |
Accounts payable | 711 |
Accrued employee benefits and compensation | 299 |
Other accrued liabilities | 103 |
Total liabilities | 1,113 |
Fair value of net assets acquired | $ | 78,571 |
Business acquisition, pro forma information | The following unaudited pro forma financial information presents the combined results of operations of Rogers, Griswold, and DSP as if the Griswold acquisition had occurred on January 1, 2017 and as if the DSP acquisition had occurred on January 1, 2016. The unaudited pro forma financial information is not intended to represent or be indicative of our consolidated results of operations that would have been reported had the Griswold and DSP acquisitions been completed as of January 1, 2017 and January 1, 2016, respectively, and should not be taken as indicative of our future consolidated results of operations.
(Dollars in thousands) | Three Months Ended September 30, 2018 (unaudited) |  | Nine Months Ended September 30, 2018 (unaudited) |  | Three Months Ended September 30, 2017 (unaudited) |  | Nine Months Ended September 30, 2017 (unaudited)
Net sales | $ | 226,863 |  |  | $ | 670,936 |  |  | $ | 219,707 |  |  | $ | 650,806 |
Net income | 20,765 |  |  | 63,204 |  |  | 26,174 |  |  | 74,483 |
Isola Asset Acquisition On August 28, 2018, the Company entered into an Asset Purchase Agreement (APA) with Isola USA Corp. (Isola) to acquire a production facility and related machinery and equipment located in Chandler Arizona for cash consideration of $43.4 million. In connection with the APA, the Company also entered into a Transition Services Agreement and a Lease Agreement with Isola whereby Isola leases back a portion of the facility and related machinery and equipment from the Company during the transition period through December 31, 2019. We used $43.4 million in cash on hand to fund the asset purchase. This transaction was evaluated under Accounting Standards Codification (ASC) Topic 805 Business Combinations and was determined to be an asset acquisition as the transaction did not meet the definition of a business. The assets acquired in connection with the acquisition were recorded by the Company at their estimated relative fair values as follows:
(Dollars in thousands) | August 28, 2018
Land | $ | 6,104 |
Buildings | 8,401 |
Machinery and equipment | 18,616 |
Equipment in process | 12,633 |
Total property, plant and equipment | $ | 45,754 |
The $45.8 million of capitalized cost summarized above includes both lease consideration valued at $2.0 million and transaction costs incurred of $0.4 million. During the third quarter of 2018, the Company recognized $0.2 million of imputed income related to the lease as well as by $0.9 million of depreciation on leased assets in “Other operating (income) expense, net.”
Schedule of asset acquisition | The assets acquired in connection with the acquisition were recorded by the Company at their estimated relative fair values as follows:
(Dollars in thousands) | August 28, 2018
Land | $ | 6,104 |
Buildings | 8,401 |
Machinery and equipment | 18,616 |
Equipment in process | 12,633 |
Total property, plant and equipment | $ | 45,754 |

X
- Definition Schedule of Asset Acquisition [Table Text Block] + References No definition available. + Details
Name: | rog_ScheduleofAssetAcquisitionTableTextBlock
Namespace Prefix: | rog_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration