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Business Acquisitions (Tables)
12 Months Ended
Jan. 03, 2015
Business Combinations [Abstract]  
Fair Values of the Assets Acquired and Liabilities Assumed
The following table summarizes the final fair values of the assets acquired and liabilities assumed in connection with the PLG acquisition.
(In millions)
Initial valuation  at
December 29, 2012
 
Measurement
period
adjustments
 
Final valuation at December 28, 2013
Cash
$
23.6

 
$

 
$
23.6

Accounts receivable
146.9

 
4.3

 
151.2

Inventories
203.5

 

 
203.5

Deferred income taxes
13.6

 

 
13.6

Other current assets
13.2

 

 
13.2

Property, plant and equipment
77.1

 

 
77.1

Goodwill
419.6

 
(10.8
)
 
408.8

Intangible assets
820.6

 
1.2

 
821.8

Other
11.2

 

 
11.2

Total assets acquired
1,729.3

 
(5.3
)
 
1,724.0

Accounts payable
97.4

 

 
97.4

Other accrued liabilities
40.0

 
2.2

 
42.2

Deferred income taxes
294.7

 
(7.5
)
 
287.2

Accrued pension liabilities
37.7

 

 
37.7

Other liabilities
10.0

 

 
10.0

Total liabilities assumed
479.8

 
(5.3
)
 
474.5

Net assets acquired
$
1,249.5

 
$

 
$
1,249.5

Addition to Goodwill within Reportable Segments
The excess of the purchase price over the fair value of net assets acquired of $408.8 million was recorded as goodwill in the consolidated balance sheets and has been assigned to the Performance Group and Lifestyle Group reportable operating segments as follows:
(In millions)
Goodwill from the acquisition of PLG
 
 
Performance Group
$
82.5

Lifestyle Group
326.3

Total
$
408.8

Intangible Assets Acquired in Acquisition

Intangible assets acquired in the PLG acquisition were valued as follows:
(In millions)
Intangible asset
 
Useful life
Trade names and trademarks
$
671.8

 
Indefinite
Customer lists
100.5

 
3-20 years
Licensing agreements
28.8

 
4-5 years
Developed product technology
14.9

 
3-5 years
Backlog
5.2

 
6 months
Net favorable leases
0.6

 
10 years
Total intangible assets acquired
$
821.8