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Acquisitions | 12 Months Ended
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Dec. 31, 2015
Business Combinations [Abstract] |
Business Combination Disclosure Text Block | Note 2—Acquisitions On November 12, 2015, the Company acquired all of the outstanding common stock of Secure Communication Systems, Inc. and its subsidiaries (collectively referred to as Secure Technology or Secure) (the Secure Acquisition) for a purchase price of $230 million subject to a working capital adjustment. Secure Technology is a leading provider of customized high performance electronics, sub-systems, and component solutions for mission critical applications. The transaction was fi nanced with borrowings under the Company’s new term loan facility. The preliminary allocation of the Secure Acquisition’s net purchase price resulted in $153.3 million of goodwill. The final allocation of the purchase price, which the Company expects to c omplete as soon as practical but no later than one year from the acquisition date, may differ from the amounts included in these financial statements. Management does not expect adjustments, if any, resulting from changes to the purchase price allocation, to have a material effect on the Company’s financial position or results of operations. The following is an estimate of the purchase price for Secure and the preliminary purchase price allocation (in thousands):
Purchase price paid | $ | 230,504
Cash acquired |  | (922)
Purchase price, net of cash received | $ | 229,582
Acquisition-related costs for 2015 | $ | 4,527
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |
Cash | $ | 922
Accounts receivable |  | 12,839
Inventories |  | 16,020
Other current assets |  | 1,569
Property, plant and equipment |  | 2,048
Other assets |  | 97
Trade names and trademarks intangible |  | 7,800
Technology licenses intangible |  | 15,500
Customer relationships intangible |  | 67,100
Goodwill |  | 153,320
Current liabilities |  | (16,714)
Long-term debt |  | (24)
Other long-term liabilities |  | (800)
Deferred income taxes |  | (29,173)
Total identifiable net assets | $ | 230,504
On June 3, 2013, the Company acquired all of the outstanding common stock of Suntron Corporation (the Suntron Acquisition) for $18.5 million in cash, as adjusted in accordance with the acquisition agreement. The allocation of the Suntron Acquisition net purchase price resulted in no goodwill. The final allocation of the purchase price, which the Company completed in June 2014, reflects a $0.8 million purchase price adjustment received during the quarter ended June 30, 2014. The purchase price paid for Su ntron has been allocated as follows (in thousands):
Purchase price paid | $ | 18,582
Cash acquired |  | (62)
Purchase price, net of cash received | $ | 18,520
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |
Cash | $ | 62
Accounts receivable |  | 11,561
Inventories |  | 14,570
Other current assets |  | 1,072
Property, plant and equipment |  | 1,437
Other assets |  | 255
Deferred income taxes |  | 3,893
Current liabilities |  | (13,987)
Other long-term liabilities |  | (281)
Total identifiable net assets | $ | 18,582
On October 2, 2013, the Company acquired all of the outstanding common stock of CTS Electronics Manufacturing Solutions, Inc. and CTS Electronics Corporation (Thailand) Ltd., the full-service EMS segment of CTS Corporation (CTS), for $75 million (the CTS Acquisition). The final allocation of the CTS Acquisition net purchase price resulted in $8.1 million of goodwill. The purchase price paid for CTS has been allocated as follows (in thousands):
Purchase price paid | $ | 75,982
Cash acquired |  | (981)
Purchase price, net of cash received | $ | 75,001
Integration costs for 2015 | $ | 1,029
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |
Cash | $ | 981
Accounts receivable |  | 32,480
Inventories |  | 40,494
Other current assets |  | 1,472
Property, plant and equipment |  | 15,175
Goodwill |  | 8,058
Customer relationships intangible |  | 15,500
Other assets |  | 129
Deferred income taxes |  | (1,620)
Current liabilities |  | (36,687)
Total identifiable net assets | $ | 75,982
The following summary pro forma condensed consolidated financial information reflects the Secure Acquisition as if it had occurred on January 1, 2014 and the S untron and CTS Acquisitions as if they had occurred on January 1, 2013 for purposes of the statements of income. This summary pro forma information is not necessarily representative of what the Company’s results of operations would have been had these acquisitions in fact occurred on January 1 of 2014 and 2013, and is not intended to pr oject the Company’s results of op erations for any future period. Pro forma condensed consolidated financial information for 2015, 2014 and 2013 (unaudited):
|  |  |  | Year Ended December 31,
(in thousands) |  | 2015 |  | 2014 |  | 2013
Net sales | $ | 2,622,246 | $ | 2,896,638 | $ | 2,693,145
Net income | $ | 95,595 | $ | 80,025 | $ | 45,271

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1497-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1490-128463 Reference 3: 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=56956515&loc=d3e1392-128463 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479 Reference 5: 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=56956515&loc=d3e1486-128463 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 Reference 7: 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=56956791&loc=d3e4845-128472 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1500-128463 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1524-128463 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4922-128472 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4934-128472 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4926-128472 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1383-128463 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479 + Details
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