Acquisitions (Tables)

6 Months Ended

Jun. 28, 2014

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The components of the purchase price are as follows:



In thousands	Consideration
Cash consideration paid to selling stockholders	$	187,885
Cash consideration deposited into escrow	8,242
Deferred consideration	47,931
Debt repaid	180,532
Total consideration	$	424,590

Schedule of Acquistion Related Costs

Acquisition related costs were as follows:



In thousands	Amount
Loan acquisition costs	$	16,102
Transaction expenses	16,133
Total	$	32,235

Acquisition related costs were as follows:



In thousands	Amount
Loan acquisition costs	$	21,312
Transaction expenses	14,880
Total	$	36,192

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The initial allocation of the purchase price and related measurement period adjustments are as follows:



In thousands	(Preliminary) November 15, 2013		Measurement Period Adjustments			(Adjusted) November 15, 2013
Cash	$	8,792	$	—		$	8,792
Accounts receivable	49,967		—			49,967
Inventory	71,050		31			71,081
Other current assets	29,889		—			29,889
Total current assets	159,698		31			159,729

Property, plant and equipment	158,000		29,529			187,529
Goodwill	38,514		(12,320		)	26,194
Intangible assets	85,000		996			85,996
Other noncurrent assets	1,403		—			1,403
Total assets acquired	$	442,615	$	18,236		$	460,851

Current liabilities	$	84,185	$	—		$	84,185
Financing Obligation	20,300		—			20,300
Long-term debt	19,391		—			19,391
Deferred income taxes	20,649		18,236			38,885
Other noncurrent liabilities	9,479		—			9,479
Noncontrolling interest	849		—			849
Total liabilities assumed	$	154,853	$	18,236		$	173,089
Net assets acquired	$	287,762	$	—		$	287,762

The preliminary allocation of the purchase price was as follows:



In thousands	June 11, 2014
Cash	$	20,621
Accounts receivable	56,976
Inventory	33,000
Other current assets	27,748
Total current assets	138,345

Property, plant and equipment	400,000
Goodwill	106,335
Intangible assets	4,770
Other noncurrent assets	12,288
Total assets acquired	$	661,738

Current liabilities	$	28,863
Long-term debt	74,930
Deferred income taxes	38,373
Other noncurrent liabilities	1,992
Noncontrolling interest	92,990
Total liabilities assumed	$	237,148
Net assets acquired	$	424,590

Business Acquisition, Pro Forma Information

he following unaudited pro forma information for the three and six months ended June 29, 2013 assumes the acquisition of both Fiberweb and Providência occurred as of the beginning of the period presented:



In thousands	Three Months Ended June 28, 2014			Six Months Ended June 28, 2014			Three Months Ended June 29, 2013			Six Months Ended June 29, 2013
Net sales	$	493,668		$	1,005,773		$	495,464		$	980,327
Net income (loss)	(31,097		)	(49,066		)	(7,405		)	(15,420		)

Schedule of Acquired Finite-Lived Intangible Assets

The Company recorded intangible assets based on an estimate of fair value, and consisted of the following:



In thousands	Useful Life	Amount
Technology	15 years	$	31,827
Trade names	Indefinite	11,412
Customer relationships	20 years	42,757
Total		$	85,996