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v3.23.1

Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2023
Alfmeier |
Business Acquisition [Line Items] |
Summary of Purchase Consideration and Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the purchase consideration and preliminary estimated fair values of assets acquired and liabilities assumed as of the acquisition date and subsequent measurement period adjustments:
|  | Initial Allocation as of August 1, 2022 |  |  | Measurement Period Adjustments |  |  | Revised Allocation as of March 31, 2023 |
Purchase price, cash consideration, net of cash acquired |  | $ | 164,887 |  |  | $ | 5,813 |  |  | $ | 170,700 |
|  |  |  |  |  |  |  |  | — |
Accounts receivable |  |  | 24,988 |  |  |  | (121 | ) |  |  | 24,867 |
Inventory |  |  | 36,026 |  |  |  | (106 | ) |  |  | 35,920 |
Prepaid expenses and other assets |  |  | 20,920 |  |  |  | (74 | ) |  |  | 20,846 |
Operating lease right-of-use assets |  |  | 4,608 |  |  |  | — |  |  |  | 4,608 |
Property and equipment |  |  | 89,942 |  |  |  | 1,242 |  |  |  | 91,184 |
Other intangible assets |  |  | 22,668 |  |  |  | 8,791 |  |  |  | 31,459 |
Goodwill |  |  | 43,678 |  |  |  | (9,184 | ) |  |  | 34,494 |
Assumed liabilities |  |  | (55,994 | ) |  |  | 975 |  |  |  | (55,019 | )
Deferred tax liabilities |  |  | (21,949 | ) |  |  | 4,290 |  |  |  | (17,659 | )
Net assets acquired |  | $ | 164,887 |  |  | $ | 5,813 |  |  | $ | 170,700 |
Summary of Preliminary Allocation of Purchase Consideration to Other Intangible Assets Acquired | The following table summarizes the preliminary allocation of the purchase consideration to the other intangible assets acquired:
|  | Preliminary Fair Value |  |  | Weighted Average Life (in years) |
Definite-lived: |  |  |  |  |  |
Customer related |  | $ | 19,812 |  |  |  | 14 |
Technology |  |  | 11,647 |  |  |  | 9 |
Total |  | $ | 31,459 |  |  |  |
Summary of Unaudited Pro Forma Information | The following unaudited pro forma information represents our product revenues as if the acquisition of Alfmeier had occurred as of January 1, 2022:
|  | Three Months Ended March 31, 2022 |
Product revenues |  | $ | 333,756 |
Net income |  |  | 8,567 |
Dacheng |
Business Acquisition [Line Items] |
Summary of Purchase Consideration and Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the purchase consideration and preliminary estimated fair values of assets acquired and liabilities assumed as of the acquisition date and subsequent measurement period adjustments:
|  | Initial Allocation as of July 13, 2022 |  |  | Measurement Period Adjustments |  |  | Revised Allocation as of March 31, 2023 |
Purchase price, cash consideration, net of cash acquired |  | $ | 35,048 |  |  | $ | — |  |  | $ | 35,048 |
|  |  |  |  |  |  |  |  | — |
Accounts receivable |  |  | 746 |  |  |  | (84 | ) |  |  | 662 |
Inventory |  |  | 1,942 |  |  |  | (177 | ) |  |  | 1,765 |
Prepaid expenses and other assets |  |  | 152 |  |  |  | 22 |  |  |  | 174 |
Operating lease right-of-use assets |  |  | 841 |  |  |  | — |  |  |  | 841 |
Property and equipment |  |  | 684 |  |  |  | — |  |  |  | 684 |
Other intangible assets |  |  | 19,094 |  |  |  | 965 |  |  |  | 20,059 |
Goodwill |  |  | 22,995 |  |  |  | (3,979 | ) |  |  | 19,016 |
Assumed liabilities |  |  | (2,799 | ) |  |  | (40 | ) |  |  | (2,839 | )
Deferred tax liabilities |  |  | (8,607 | ) |  |  | 3,293 |  |  |  | (5,314 | )
Net assets acquired |  | $ | 35,048 |  |  | $ | — |  |  | $ | 35,048 |
Summary of Preliminary Allocation of Purchase Consideration to Other Intangible Assets Acquired | The following table summarizes the preliminary allocation of the purchase consideration to the other intangible assets acquired:
|  | Preliminary Fair Value |  |  | Weighted Average Life (in years) |
Definite-lived: |  |  |  |  |  |
Customer related |  | $ | 12,837 |  |  |  | 12 |
Technology |  |  | 4,749 |  |  |  | 12 |
Indefinite-lived: |  |  |  |  |  |
Tradenames |  |  | 2,473 |  |  |  | — |
Total |  | $ | 20,059 |  |  |  |

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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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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