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Acquisitions (Tables) | 6 Months Ended
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Jun. 28, 2014
Business Combinations [Abstract] |
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 | $ | 188,117 |
Cash consideration deposited into escrow | 8,252 |
Deferred consideration | 47,931 |
Debt repaid | 180,532 |
Total consideration | $ | 424,832 |
Schedule of Acquistion Related Costs | Acquisition related costs were as follows:
In thousands | Amount
Loan acquisition costs | $ | 21,297 |
Transaction expenses | 18,552 |
Total | $ | 39,849 |
Acquisition related costs were as follows:
In thousands | Amount
Loan acquisition costs | $ | 16,102 |
Transaction expenses | 15,783 |
Total | $ | 31,885 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
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 |  | 1,077 |  | 34,077 |
Other current assets | 27,748 |  | 4,100 |  | 31,848 |
Total current assets | 138,345 |  | 1,130 |  | 139,475 |
Property, plant and equipment | 400,000 |  | (94,694 | ) | 305,306 |
Goodwill | 106,335 |  | 27,312 |  | 133,647 |
Intangible assets | 4,770 |  | 14,230 |  | 19,000 |
Other noncurrent assets | 12,288 |  | — |  | 12,288 |
Total assets acquired | $ | 661,738 |  | $ | (52,022 | ) | $ | 609,716 |
Current liabilities | $ | 28,863 |  | $ | 2,742 |  | $ | 31,605 |
Total debt | 74,930 |  | — |  | 74,930 |
Deferred income taxes | 38,373 |  | (42,808 | ) | (4,435 | )
Other noncurrent liabilities | 1,992 |  | — |  | 1,992 |
Total liabilities assumed | 144,158 |  | (40,066 | ) | 104,092 |
Redeemable noncontrolling interest | 92,990 |  | (12,198 | ) | 80,792 |
Net assets acquired | $ | 424,590 |  | $ | 242 |  | $ | 424,832 |
In thousands | November 15, 2013
Cash | $ | 8,792 |
Accounts receivable | 49,967 |
Inventory | 71,081 |
Other current assets | 29,889 |
Total current assets | 159,729 |
Property, plant and equipment | 187,529 |
Goodwill | 33,699 |
Intangible assets | 85,996 |
Other noncurrent assets | 1,403 |
Total assets acquired | $ | 468,356 |
Current liabilities | $ | 84,255 |
Financing Obligation | 20,300 |
Total debt | 19,391 |
Deferred income taxes | 45,974 |
Other noncurrent liabilities | 9,825 |
Noncontrolling interest | 849 |
Total liabilities assumed | $ | 180,594 |
Net assets acquired | $ | 287,762 |
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 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 | $ | 496,141 |  | $ | 1,008,246 |  | $ | 499,253 |  | $ | 983,949 |
Net income (loss) | (36,496 | ) | (56,251 | ) | (4,375 | ) | (13,505 | )
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 |

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