BUSINESS COMBINATION (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Summary of fair values of assets acquired and liabilities assumed

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the acquisition date, which are subject to change within the measurement period as the fair value assessments are finalized (in thousands):

Net tangible assets acquired	$	8,387
Intangible assets	37,800
Goodwill	66,916
Net assets acquired	$	113,103

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the acquisition date, which are subject to change within the measurement period as the fair value assessments are finalized (in thousands):

Net tangible assets acquired	$	38
Intangible assets	19,500
Deferred tax liabilities	(2,906)
Goodwill	53,280
Net assets acquired	$	69,912

The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):

Net tangible assets acquired	$	1,281
Intangible assets	11,700
Goodwill	11,804
Net assets acquired	$	24,785

The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date, (in thousands):

Net tangible assets acquired	$	1,441
Intangible assets	9,200
Deferred tax asset	457
Goodwill	24,390
Net assets acquired	$	35,488

Summary of intangible assets acquired

The following table shows the fair value of the separately identifiable intangible assets at the time of acquisition and the period over which each intangible asset will be amortized:

	Preliminary Fair Value		Useful Life
	(In thousands)		(Years)
Order backlog	$	600	Based on actual shipments
Trade name	37,200		5
Total identifiable intangible assets	$	37,800

The following table shows the fair value of the separately identifiable intangible assets at the time of acquisition and the period over which each intangible asset will be amortized:

	Preliminary Fair Value		Useful Life
	(In thousands)		(Years)
Developed technology	$	18,400	5
Customer relationship	1,100		5
Total identifiable intangible assets	$	19,500

The following table shows the fair value of the separately identifiable intangible assets at the time of acquisition and the period over which each intangible asset will be amortized:

	Preliminary Fair Value		Useful Life
	(In thousands)		(Years)
Customer relationship	$	11,700	5

The following table shows the fair value of the separately identifiable intangible assets at the time of acquisition and the period over which each intangible asset will be amortized:

	Preliminary Fair Value		Useful Life
	(In thousands)		(Years)
Developed technology	$	6,900	5
Customer relationship	1,800		5
Trade name	500		5
Total identifiable intangible assets	$	9,200

Business Acquisition, Pro Forma Information

The consolidated unaudited proforma revenue and net income for the two years presented below, which includes the acquisition of ClipperCreek, assuming the acquisition occurred on January 1, 2020, were (in thousands);

	Years Ended December 31,
	2021		2020
Net revenues	$	1,401,803	$	790,791
Net income	$	145,798	$	139,126

Summary of consideration transferred for business acquisition

The acquisition date fair value of the purchase price was approximately $35.5 million, which consisted of the following (in thousands):

Cash consideration	$	31,988
Fair value of contingent consideration	3,500
Total	$	35,488