Divestiture and Acquisitions (Tables)
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12 Months Ended |
Dec. 30, 2016 |
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| Divestiture and Acquisition [Abstract] |
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| Summary of divested assets and liabilities |
In connection with the Spin-off, during the first quarter of 2016, the Company made a cash capital contribution of $75 million to Nuvectra and divested the following assets and liabilities (in thousands): | | | | | Assets divested | | Cash and cash equivalents | $ | 76,256 |
| Other current assets | 977 |
| Property, plant and equipment, net | 4,407 |
| Amortizing intangible assets, net | 1,931 |
| Goodwill | 40,830 |
| Deferred income taxes | 6,446 |
| Total assets divested | 130,847 |
| Liabilities transferred | | Current liabilities | 2,119 |
| Net assets divested | $ | 128,728 |
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| Summary of aggregate consideration |
The aggregate consideration paid by the Company to the stockholders of Lake Region Medical consisted of the following (in thousands): | | | | | Cash | $ | 478,490 |
| Fair value of Integer common stock | 245,368 |
| Replacement stock options attributable to pre-acquisition service | 4,508 |
| Total purchase consideration | $ | 728,366 |
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| Summary of assets acquired and liabilities assumed |
The fair values of the assets acquired and liabilities assumed are as follows (in thousands): | | | | | Assets acquired | | Current assets | $ | 269,815 |
| Property, plant and equipment | 216,473 |
| Amortizing intangible assets | 849,000 |
| Indefinite-lived intangible assets | 70,000 |
| Goodwill | 660,670 |
| Other non-current assets | 1,629 |
| Total assets acquired | 2,067,587 |
| Liabilities assumed | | Current liabilities | 103,986 |
| Debt assumed | 1,044,675 |
| Other long-term liabilities | 190,560 |
| Total liabilities assumed | 1,339,221 |
| Net assets acquired | $ | 728,366 |
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The fair values of the assets acquired and liabilities assumed are as follows (in thousands): | | | | | Assets acquired | | Current assets | $ | 10,670 |
| Property, plant and equipment | 1,131 |
| Amortizing intangible assets | 6,100 |
| Goodwill | 8,296 |
| Total assets acquired | 26,197 |
| Liabilities assumed | | Current liabilities | 4,842 |
| Deferred income taxes | 1,590 |
| Total liabilities assumed | 6,432 |
| Net assets acquired | $ | 19,765 |
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| Schedule of Pro Forma Information |
The following unaudited pro forma information summarizes the consolidated results of operations of the Company, Lake Region Medical, and CCC for fiscal years 2015 and 2014 as if those acquisitions occurred as of the beginning of fiscal years 2014 (Lake Region Medical) and 2013 (CCC) (in thousands, except per share amounts): | | | | | | | | | | 2015 | | 2014 | Sales | $ | 1,445,689 |
| | $ | 1,441,782 |
| Net income (loss) | 2,405 |
| | (25,865 | ) | Earnings (loss) per share: | | | | Basic | $ | 0.08 |
| | $ | (0.87 | ) | Diluted | $ | 0.08 |
| | $ | (0.87 | ) |
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