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Business Combination (Tables) | 3 Months Ended
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Mar. 31, 2016
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | Using the acquisition method of accounting, the acquisition date fair value of the consideration transferred was allocated to the net tangible and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. The excess of the purchase price over the fair value of net assets acquired is recorded as goodwill. The goodwill is expected to be deductible for income tax purposes. Management's purchase price allocation was the following:
(in thousands) | Estimated Lives |  | Fair Value
Cash and cash equivalents |  |  | $ | 685 |
Accounts receivable |  |  | 374 |
Inventories |  |  | 1,412 |
Prepaid expenses and other current assets |  |  | 253 |
Property, plant and equipment | 1-4 years |  | 16 |
Non-interest bearing liabilities |  |  | (1,557 | )
Net tangible assets acquired |  |  | 1,183 |
Trade name | 7 years |  | 400 |
Developed technology | 4-14 years |  | 9,080 |
Customer relationships | 5 years |  | 1,300 |
Goodwill |  |  | 12,564 |
Total purchase price |  |  | 24,527 |
Noncontrolling interest |  |  | (378 | )
Net purchase price |  |  | 24,149 |
Less: Contingent consideration |  |  | (11,200 | )
Cash paid |  |  | $ | 12,949 |
Pro Forma Information | The following unaudited pro forma financial information presents the combined results of our operations and the operations of Ecolink as if this transaction had occurred on January 1, 2014. This unaudited pro forma financial information is not intended to represent or be indicative of the consolidated results of operations that would have been achieved had the acquisition actually been completed as of January 1, 2014, and should not be taken as a projection of the future consolidated results of our operations.
| Three Months Ended March 31,
(In thousands, except per-share amounts) | 2016 |  | 2015
Net sales | $ | 150,658 |  |  | $ | 134,211 |
Net income | $ | 2,789 |  |  | $ | 5,032 |
Net income attributable to Universal Electronics Inc. | $ | 2,758 |  |  | $ | 5,007 |
Basic earnings per share attributable to Universal Electronics Inc. | $ | 0.19 |  |  | $ | 0.31 |
Diluted earnings per share attributable to Universal Electronics Inc. | $ | 0.19 |  |  | $ | 0.31 |

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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 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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