Business Combination (Tables)

12 Months Ended

Dec. 26, 2020

Business Combinations [Abstract]

Summary of Final Allocation of the Total Purchase Consideration to Initial Estimated Fair Values of the Assets Acquired and Liabilities Assumed

During the quarter ended December 26, 2020, the Company finalized its fair value determination of the assets acquired and the liabilities assumed.  The following table summarizes the final allocation of the total purchase consideration to the fair values of the assets acquired and liabilities assumed at the merger date.

Cash and cash equivalents	$43,882
Marketable securities	94,389
Account receivables	49,917
Inventories	98,478
Prepaid expenses and other current assets	6,659
Property, plant and equipment	77,451
Operating lease right-of-use assets	9,658
Identifiable intangible assets	374,900
Deferred income taxes	2,191
Other assets	850
Total assets acquired	758,375
Accounts payable	(23,361)
Payroll and related expenses	(20,290)
Deferred revenue	(5,931)
Other current liabilities	(10,679)
Income taxes payable	(2,007)
Other non-current liabilities	(90,113)
Net assets acquired	605,994
Goodwill	284,137
Total purchase consideration	$890,131

Allocation of the Intangible Assets

The allocation of the intangible assets subject to amortization is as follows:

	Estimated Fair Value	Weighted Average Useful Life (years)
Developed technology	$260,500	6.6
In-process research and development	46,600	indefinite
Customer relationships	53,000	13.1
Backlog	6,700	1.1
Trademarks and trade names	8,100	7.5
Total intangible assets	$374,900

Schedule of Pro Forma and Reported Financial Information

The reported financial information for the year ended December 31, 2019 includes the results of Rudolph for the year then-ended and the results of Nanometrics from the merger date through December 31, 2019. The reported financial information for the year ended December 31, 2018 is the historical results of Rudolph:

	Year Ended
	December 31, 2019				December 31, 2018
	Reported		Pro Forma		Reported		Pro Forma
Net revenue	$	305,896	$	525,455	$	273,784	$	598,307
Net income attributable to Onto Innovation		1,910		901		45,096		36,246