Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the net assets acquired and liabilities assumed, net of any working capital and other adjustments, as of December 31, 2015 (in thousands):



	Preliminary Valuation at December 31, 2015
Cash	$	7,759
Accounts receivable	12,507
Inventories	12,168
Prepaid expenses	1,028
Deferred tax assets	1,287
Property, plant and equipment	3,240
Intangible assets	63,100
Total assets acquired	$	101,089

Accounts payable	6,215
Accrued liabilities	1,614
Warranty obligations	5,550
Deferred tax liabilities, non-current	20,914
Other non-current liabilities	519
Total liabilities assumed	$	34,812

Net identifiable assets acquired	$	66,277
Goodwill	58,357
Net assets acquired	$	124,634

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table sets forth the components of identifiable intangible assets and their estimated fair values and useful lives as of December 31, 2015 (dollars in thousands):



	Estimated fair value		Estimated useful life (years)	Weighted-average amortization period (years)
Trade name - Octane Fitness	$	23,000	Indefinite	N/A
Trade name - others	2,600		10 - 15	12.5
Patents	12,800		11 - 24	18
Customer relationships	24,700		10 - 15	13
	$	63,100

Business Acquisition, Pro Forma Information

The following table reflects the unaudited pro forma consolidated results of operations for the period presented, as though the acquisition of Octane had occurred on January 1, 2014 (in thousands):



		(unaudited)
		Year Ended December 31,
		2015		2014
Net sales		$	400,078	$	338,990
Net income		29,352		20,233
Net income per share:
	Basic	$	0.94	$	0.65
	Diluted	0.93		0.64