Acquisitions (Tables)

12 Months Ended

Dec. 26, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price over the estimated fair values of the major assets acquired, liabilities assumed, and noncontrolling interest (in millions):

Accounts receivable	$	8.1
Unbilled receivables	4.9
Inventoried costs	7.8
Other current assets	1.1
Property and equipment	5.7
Intangible assets	30.8
Goodwill	24.0
Total identifiable net assets acquired	82.4
Total identifiable net liabilities assumed	(7.5)
Net assets before noncontrolling interest	74.9
Noncontrolling interest	(14.9)
Net assets acquired, excluding cash	$	60.0

The following table summarizes the allocation of the purchase price over the estimated fair values of the major assets acquired and liabilities assumed (in millions):

Accounts receivable	$	5.7
Unbilled receivables	0.9
Inventoried costs	10.4
Other current assets	1.8
Property and equipment	10.0
Intangible assets	4.3
Goodwill	10.8
Total identifiable net assets acquired	43.9
Total identifiable net liabilities assumed	(11.0)
Net assets acquired, excluding cash	$	32.9

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

A summary of the consideration paid for the acquired ownership in FTT is as follow:

Cash paid	$	20.7
Deferred purchase consideration	15.3
Common stock issued	27.0
	63.0
Less: Cash acquired	(3.0)
Total consideration	$	60.0

A summary of the consideration paid for the acquired ownership in ASC Signal is as follows:

Cash paid	$	34.9
Less: Cash acquired	(2.0)
Total consideration	$	32.9

Business Acquisition, Pro Forma Information

For the year ended December 29, 2019 (all amounts, except per share amounts, are in millions):

Pro forma revenues	$	725.6
Pro forma net income before tax	$	14.8
Pro forma net income	$	11.7
Pro forma net income attributable to Kratos	$	11.8
Basic pro forma income per share attributable to Kratos	$	0.11
Diluted pro forma income per share attributable to Kratos	$	0.11

For the year ended December 27, 2020 (all amounts, except per share amounts, are in millions):

Pro forma revenues	$	766.0
Pro forma net income before tax	$	2.6
Pro forma net income1	$	74.5
Basic pro forma income per share1	$	0.65
Diluted pro forma income per share1	$	0.63

1 These unaudited pro forma amounts have been corrected to reflect the release of the valuation allowance of $80.1 million from what was previously disclosed.