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BUSINESS COMBINATION (Tables)
12 Months Ended
Dec. 31, 2022
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 liabilities acquired$(118)
Intangible assets13,900 
Deferred tax asset, net4,578 
Goodwill16,536 
Net assets acquired$34,896 
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$2,239 
Intangible assets11,200 
Goodwill12,612 
Net assets acquired$26,051 
The following table summarizes the fair values of the assets acquired and liabilities (in thousands):
Net tangible assets acquired$8,387 
Intangible assets37,800 
Goodwill70,119 
Net assets acquired$116,306 
The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands):
Net tangible assets acquired$38 
Intangible assets19,500 
Deferred tax liabilities(2,906)
Goodwill53,280 
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 assets11,700 
Goodwill11,804 
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 assets9,200 
Deferred tax asset457 
Goodwill24,390 
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 ValueUseful Life
(In thousands)(Years)
Developed technology$8,000 5
Customer relationships5,900 5
Total identifiable intangible assets$13,900 
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:
Fair ValueUseful Life
(In thousands)(Years)
Developed technology$3,600 5
Customer relationships7,600 5
Total identifiable intangible assets$11,200 
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:
Fair ValueUseful Life
(In thousands)(Years)
Order backlog$600 Based on actual shipments
Trade name37,200 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:
Fair ValueUseful Life
(In thousands)(Years)
Developed technology$18,400 5
Customer relationship1,100 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 ValueUseful 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:
Fair ValueUseful Life
(In thousands)(Years)
Developed technology$6,900 5
Customer relationship1,800 5
Trade name500 5
Total identifiable intangible assets$9,200 
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 consideration3,500 
Total$35,488 
Schedule of 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,
20212020
Net revenues$1,401,803 $790,791 
Net income$145,798 $139,126