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Business Combinations (Tables)
12 Months Ended
Dec. 31, 2017
Business Combinations  
Schedule of acquisition date fair value of the consideration transferred net of cash acquired

 

 

Acquisition Date

 

 

 

(May 26, 2017)

 

 

 

(in thousands)

 

Cash consideration, net of cash acquired of $229.4 million

 

$

404,489

 

Equity consideration (7.2 million shares issued)

 

228,644

 

Replacement equity awards attributable to pre-acquisition service

 

228

 

 

 

 

 

Acquisition date fair value

 

$

633,361

 

 

 

 

 

 

 

Summary of the estimated fair values of the assets acquired, net of cash acquired, and liabilities assumed

 

 

Acquisition Date

 

 

 

(May 26, 2017)

 

 

 

(in thousands)

 

Short-term investments

 

$

47,161

 

Accounts receivable

 

45,465

 

Inventories

 

59,100

 

Deferred cost of sales

 

242

 

Prepaid expense and other current assets

 

7,217

 

Property, plant, and equipment

 

18,152

 

Intangible assets

 

346,940

 

Other assets

 

6,442

 

 

 

 

 

Total identifiable assets acquired

 

530,719

 

 

 

 

 

Accounts payable

 

24,291

 

Accrued expenses and other current liabilities

 

16,356

 

Customer deposits and deferred revenue

 

4,834

 

Deferred income taxes

 

32,478

 

Other liabilities

 

11,622

 

 

 

 

 

Total liabilities assumed

 

89,581

 

 

 

 

 

Net identifiable assets acquired

 

441,138

 

Goodwill

 

192,223

 

 

 

 

 

Net assets acquired

 

$

633,361

 

 

 

 

 

 

 

Schedule of classes of intangible assets acquired and the estimated weighted-average useful life of each class

 

 

Acquisition Date

 

 

 

(May 26, 2017)

 

 

 

Amount

 

Useful life

 

 

 

(in thousands)

 

 

 

Technology

 

$

158,390

 

9 years

 

Customer relationships

 

116,710

 

12 years

 

Backlog

 

3,080

 

6 months

 

In-process research and development

 

43,340

 

*

 

Trademark and tradenames

 

25,420

 

7 years

 

 

 

 

 

 

 

Intangible assets acquired

 

$

346,940

 

 

 

 

 

 

 

 

 

 

 

 

*In-process research and development will be amortized (or impaired) upon completion (or abandonment) of the development project.

 

Schedule of amounts of net sales and income (loss) from continuing operations before income taxes

 

 

 

Year ended 
December 31, 2017

 

 

 

(in thousands)

 

Net sales

 

$

65,530

 

Loss before income taxes

 

$

(62,762

)

 

Schedule of pro forma Consolidated Statement of Operations

 

 

 

For the year ended December 31,

 

 

 

2017

 

2016

 

 

 

(in thousands, except per share amounts)

 

Net sales

 

$

555,498

 

$

526,501

 

Loss before income taxes

 

(81,910

)

(218,023

)

Diluted earnings per share

 

$

(1.24

)

$

(4.67

)