Business Combinations (Tables) - Motion Solutions Parent Corp.

3 Months Ended

Mar. 29, 2024

Summary of Preliminary Valuation, Purchase Price

Based upon the Company’s preliminary valuation, the purchase price for Motion Solutions was allocated as follows (in thousands):

	Purchase Price
	Allocation
Cash	$	776
Accounts receivable		8,515
Inventory		13,554
Property, plant and equipment		3,126
Operating lease assets		8,076
Intangible assets		80,400
Goodwill		108,791
Other assets		561
Total assets acquired		223,799
Accounts payable		5,305
Operating lease liabilities		8,514
Deferred tax liabilities		17,540
Other liabilities		464
Total liabilities assumed		31,823
Total assets acquired, net of liabilities assumed		191,976
Less: cash acquired		776
Purchase price, net of cash acquired	$	191,200

Fair Value of Intangible Assets

The fair value of intangible assets for Motion Solutions is comprised of the following:

	Estimated Fair		Amortization
	Value (In thousands)		Period
Developed technologies	$	34,400	7 years
Customer relationships		41,900	13 years
Backlog		4,100	1 year
Total	$	80,400

Summary of Pro Forma Financial Information

The pro forma information for all periods presented below includes the effect of business combination accounting resulting from the acquisition of Motion Solutions, including amortization of inventory fair value adjustments, amortization of intangible assets, interest expense on borrowings in connection with the acquisition, and the related tax effects, assuming that the acquisition had been consummated as of January 1, 2023. The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisitions had taken place on January 1, 2023.

	Three Months Ended		Three Months Ended
	March 29,		March 31,
	2024		2023
Revenue	$	230,916	$	237,854
Net income	$	17,120	$	12,115