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BUSINESS ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 30, 2015
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The following summarizes the preliminary allocation of the purchase price as of September 30, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Preliminary Purchase Price Allocation |
| (Dollars in thousands) |
Cash | $ | 1,241 |  |
Accounts receivable, net | 9,011 |  |
Inventory | 23,223 |  |
Income tax receivable | 5,135 |  |
Other current assets | 2,270 |  |
Property, plant, and equipment | 2,027 |  |
Intangible assets: |  |  | Wtd. Avg. Life:
Developed Technology | 167,400 |  | 14 -16
Contractual Relationships | 51,345 |  | 11 -14
Leasehold Interest | 69 |  |
Goodwill | 148,935 |  |
Total assets acquired | 410,656 |  |
Accrued expenses and other liabilities | 9,732 |  |
Deferred tax liabilities | 88,565 |  |
Net assets acquired | $ | 312,359 |  |
The following summarizes the final allocation of the purchase price as of September 30, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Final Purchase Price Allocation |
| (Dollars in thousands) |
Inventory | $ | 4,800 |  |
Property, plant, and equipment | 1,246 |  |
Intangible assets: |  |  | Wtd. Avg. Life:
Technology product rights | 20,590 |  | 8 - 14 Years
In-process research and development | 190 |  | Indefinite
Goodwill | 732 |  |
Net assets acquired | $ | 27,558 |  |
The following summarizes the final allocation of the purchase price as of September 30, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Final Purchase Price Allocation |
| (Dollars in thousands) |
Inventory deposit | $ | 4,000 |  |
Fixed assets | 438 |  |
Intangible assets: |  |  | Wtd. Avg. Life
Technology product rights | 239,800 |  | 3 - 20 Years
Other | 400 |  | Less than 1 year
Deferred tax assets - long term | 12 |  |
Goodwill | 105,331 |  |
Total assets acquired | 349,981 |  |
Contingent supply liability | 5,891 |  |
Other | 731 |  |
Deferred tax liabilities - long term | 87,464 |  |
Net assets acquired | $ | 255,895 |  |
The following summarizes the final allocation of the purchase price as of September 30, 2015 based on the fair value of the assets acquired and liabilities assumed:
| Final Purchase Price Allocation |
| (Dollars in thousands) |
Cash | $ | 2,195 |  |
Inventory | 3,155 |  |
Prepaid expenses | 620 |  |
Property, plant, and equipment | 3,675 |  |
Other current assets | 5,025 |  |
Intangible assets: |  |  | Wtd. Avg. Life:
Trade name | 11,990 |  | 20 Years
Technology | 4,580 |  | 15 - 16 Years
Customer relationships | 18,130 |  | 12 - 16 Years
Goodwill | 16,607 |  |
Total assets acquired | 65,977 |  |
Accounts payable and other liabilities | 5,910 |  |
Net assets acquired | $ | 60,067 |  |
Schedule of Contingent Consideration | A reconciliation of the opening balances to the closing balances of these Level 3 measurements is as follows (in thousands):
|  | Location in Statement of Operations
Balance as of January 1, 2015 | $ | 22,008 |  |
Loss from increase in fair value of contingent consideration liabilities | 359 |  | Selling, general and administrative
Fair value at September 30, 2015 | $ | 22,367 |  |
Pro Forma Information | As a result, these pro forma results do not necessarily represent results that would have occurred if the acquisition had taken place on the basis assumed above, nor are they indicative of the results of future combined operations.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
| (In thousands, except per share amounts) |  | (In thousands, except per share amounts)
Total revenue | $ | 229,402 |  |  | $ | 223,837 |  |  | $ | 677,740 |  |  | $ | 656,584 |
Net (loss) income | $ | (31,697 | ) |  | $ | 10,160 |  |  | $ | (5,930 | ) |  | $ | 20,251 |
Net (loss) income per share: |  |  |  |  |  |  |
Basic | $ | (0.90 | ) |  | $ | 0.31 |  |  | $ | (0.18 | ) |  | $ | 0.63 |

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- 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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: 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 2: 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 + Details
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