Acquisitions (Tables)

9 Months Ended

Sep. 27, 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	$	16,094
Transaction expenses	15,764
Total	$	31,858

Acquisition related costs were as follows:



In thousands	Amount
Loan acquisition costs	$	21,297
Transaction expenses	15,766
Total	$	37,063

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The preliminary 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		(4,815		)	33,699
Intangible assets	85,000		996			85,996
Other noncurrent assets	1,403		—			1,403
Total assets acquired	$	442,615	$	25,741		$	468,356

Current liabilities	$	84,185	$	70		$	84,255
Financing Obligation	20,300		—			20,300
Total debt	19,391		—			19,391
Deferred income taxes	20,649		25,325			45,974
Other noncurrent liabilities	9,479		346			9,825
Noncontrolling interest	849		—			849
Total liabilities assumed	$	154,853	$	25,741		$	180,594
Net assets acquired	$	287,762	$	—		$	287,762

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



In thousands	Preliminary June 11, 2014		Measurement Period Adjustments			Adjusted June 11, 2014
Cash	$	20,621	$	—		$	20,621
Accounts receivable	56,976		(4,047		)	52,929
Inventory	33,000		1,451			34,451
Other current assets	27,748		4,100			31,848
Total current assets	138,345		1,504			139,849

Property, plant and equipment	400,000		—			400,000
Goodwill	106,335		1,162			107,497
Intangible assets	4,770		(270		)	4,500
Other noncurrent assets	12,288		—			12,288
Total assets acquired	$	661,738	$	2,396		$	664,134

Current liabilities	$	28,863	$	2,742		$	31,605
Total debt	74,930		—			74,930
Deferred income taxes	38,373		(346		)	38,027
Other noncurrent liabilities	1,992		—			1,992
Noncontrolling interest	92,990		—			92,990
Total liabilities assumed	$	237,148	$	2,396		$	239,544
Net assets acquired	$	424,590	$	—		$	424,590

Business Acquisition, Pro Forma Information

he following unaudited pro forma information assumes the acquisition of both Fiberweb and Providência occurred as of the beginning of the earliest period presented:



In thousands	Three Months Ended September 27, 2014			Nine Months Ended September 27, 2014			Three Months Ended September 28, 2013			Nine Months Ended September 28, 2013
Net sales	$	498,013		$	1,505,053		$	495,215		$	1,475,186
Net income (loss)	(55,228		)	(121,007		)	(44,199		)	(57,341		)

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