Acquisitions and Purchase Accounting (Tables)

9 Months Ended

Sep. 29, 2018

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information [Table Text Block]

The following pro forma results include adjustments to reflect additional interest expense to fund the acquisitions, amortization of intangibles associated with the acquisitions, and the effects of adjustments made to the carrying value of certain assets (in thousands, except per share data): 

	Nine Months Ended
	September 29, 2018		September 30, 2017
Net sales	$	2,130,166	$	2,151,230
Net earnings	219,914		198,430
Net earnings per share:
Basic	$	3.96	$	3.48
Diluted	3.96		3.48

Burford [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The final allocation of consideration paid for the Burford acquisition is summarized as follows (in thousands):

	(as initially reported) May 1, 2017			Measurement Period Adjustments			(as adjusted) May 1, 2017
Cash	$	2,514		$	—		$	2,514
Current assets	6,424			104			6,528
Property, plant and equipment	656			(13		)	643
Goodwill	7,289			997			8,286
Other intangibles	4,900			1,840			6,740
Current liabilities	(2,254		)	(665		)	(2,919		)
Long term deferred tax liability	(1,840		)	224			(1,616		)
Other non-current liabilities	—			(2,836		)	(2,836		)
Net assets acquired and liabilities assumed	$	17,689		$	(349	)	$	17,340

CVP Systems [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The final allocation of consideration paid for the CVP Systems acquisition is summarized as follows (in thousands):

	(as initially reported) June 30, 2017			Measurement Period Adjustments			(as adjusted) June 30, 2017
Cash	$	621		$	—		$	621
Current assets	5,973			(1,435		)	4,538
Property, plant and equipment	238			(91		)	147
Goodwill	20,297			(695		)	19,602
Other intangibles	8,700			4,350			13,050
Current liabilities	(1,532		)	(581		)	(2,113		)
Long term deferred tax liability	(3,168		)	(443		)	(3,611		)
Other non-current liabilities	—			(1,833		)	(1,833		)
Net assets acquired and liabilities assumed	$	31,129		$	(728	)	$	30,401

Sveba Dahlen [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

	(as initially reported) June 30, 2017			Measurement Period Adjustments			(as adjusted) June 30, 2017
Cash	$	4,569		$	—		$	4,569
Current assets	22,686			(997		)	21,689
Property, plant and equipment	9,128			(431		)	8,697
Goodwill	33,785			4,330			38,115
Other intangibles	34,175			225			34,400
Other assets	1,170			(280		)	890
Current portion of long-term debt	—			(14		)	(14		)
Current liabilities	(11,782		)	(342		)	(12,124		)
Long-term debt	—			(140		)	(140		)
Long term deferred tax liability	(7,751		)	(626		)	(8,377		)
Other non-current liabilities	(42		)	(1,725		)	(1,767		)
Net assets acquired and liabilities assumed	$	85,938		$	—		$	85,938

QualServ [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

	(as initially reported) August 31, 2017			Measurement Period Adjustments			(as adjusted) August 31, 2017
Cash	$	1,130		$	—		$	1,130
Current assets	18,031			(64		)	17,967
Property, plant and equipment	4,785			—			4,785
Goodwill	14,590			(1,399		)	13,191
Other intangibles	9,600			1,340			10,940
Current liabilities	(6,810		)	(130		)	(6,940		)
Net assets acquired and liabilities assumed	$	41,326		$	(253	)	$	41,073

Globe [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The final allocation of consideration paid for the Globe acquisition is summarized as follows (in thousands):

	(as initially reported) October 17, 2017			Measurement Period Adjustments			(as adjusted) October 17, 2017
Cash	$	3,420		$	—		$	3,420
Current assets	17,197			(40		)	17,157
Property, plant and equipment	1,120			—			1,120
Goodwill	67,176			(7,182		)	59,994
Other intangibles	43,444			14,086			57,530
Current liabilities	(5,994		)	(398		)	(6,392		)
Long term deferred tax liability	(16,456		)	(5,832		)	(22,288		)
Other non-current liabilities	(1,907		)	(193		)	(2,100		)
Net assets acquired and liabilities assumed	$	108,000		$	441		$	108,441

The long term deferred tax liability amounted to $22.3 million. The net liability is comprised of $21.7 million of deferred tax liability related to the difference between the book and tax basis of identifiable intangible assets and $0.6 million of deferred tax liabilities related to the difference between the book and tax basis on identifiable tangible asset and liability accounts.

Scanico [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) December 7, 2017			Preliminary Measurement Period Adjustments			(as adjusted) December 7, 2017
Cash	$	6,766		$	—		$	6,766
Current assets	3,428			(111		)	3,317
Property, plant and equipment	447			(27		)	420
Goodwill	30,072			470			30,542
Other intangibles	11,491			—			11,491
Current liabilities	(7,987		)	(28		)	(8,015		)
Long term deferred tax liability	(3,305		)	30			(3,275		)
Consideration paid at closing	$	40,912		$	334		$	41,246
Contingent consideration	751			—			751
Net assets acquired and liabilities assumed	$	41,663		$	334		$	41,997

Hinds-Bock [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) February 16, 2018			Preliminary Measurement Period Adjustments			(as adjusted) February 16, 2018
Cash	$	5		$	—		$	5
Current assets	5,301			(3		)	5,298
Property, plant and equipment	3,557			—			3,557
Goodwill	12,686			(397		)	12,289
Other intangibles	8,081			—			8,081
Current liabilities	(3,800		)	—			(3,800		)
Net assets acquired and liabilities assumed	$	25,830		$	(400	)	$	25,430

VeMaC [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) April 3, 2018			Preliminary Measurement Period Adjustments		(as adjusted) April 3, 2018
Cash	$	1,833		$	—	$	1,833
Current assets	10,722			—		10,722
Property, plant and equipment	389			—		389
Goodwill	7,278			—		7,278
Other intangibles	2,584			—		2,584
Other assets	12			—		12
Current portion of long-term debt	(1,901		)	—		(1,901		)
Current liabilities	(8,076		)	—		(8,076		)
Long term deferred tax liability	(340		)	—		(340		)
Other non-current liabilities	(212		)	—		(212		)
Net assets acquired and liabilities assumed	$	12,289		$	—	$	12,289

Firex [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) April 27, 2018			Preliminary Measurement Period Adjustments			(as adjusted) April 27, 2018
Cash	$	10,652		$	(37	)	$	10,615
Current assets	7,656			81			7,737
Property, plant and equipment	2,447			—			2,447
Goodwill	36,706			(295		)	36,411
Other intangibles	19,806			—			19,806
Current portion of long-term debt	(1,210		)	—			(1,210		)
Current liabilities	(4,099		)	—			(4,099		)
Long term deferred tax liability	(4,995		)	—			(4,995		)
Long-term debt	(1,069		)	—			(1,069		)
Other non-current liabilities	(1,318		)	—			(1,318		)
Net assets acquired and liabilities assumed	$	64,576		$	(251	)	$	64,325

Josper [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) May 10, 2018			Preliminary Measurement Period Adjustments			(as adjusted) May 10, 2018
Cash	$	3,308		$	—		$	3,308
Current assets	6,579			14			6,593
Property, plant and equipment	4,739			—			4,739
Goodwill	27,140			(74		)	27,066
Other intangibles	13,136			—			13,136
Other assets	2			—			2
Current portion of long-term debt	(217		)	—			(217		)
Current liabilities	(5,146		)	52			(5,094		)
Long-term debt	(1,608		)	—			(1,608		)
Long term deferred tax liability	(2,934		)	8			(2,926		)
Other non-current liabilities	(2,169		)	—			(2,169		)
Consideration paid at closing	$	42,830		$	—		$	42,830
Contingent consideration	3,454			—			3,454
Net assets acquired and liabilities assumed	$	46,284		$	—		$	46,284

Taylor [Member]

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) June 22, 2018			Preliminary Measurement Period Adjustments			(as adjusted) June 22, 2018
Cash	$	2,551		$	64		$	2,615
Current assets	71,162			(523		)	70,639
Property, plant and equipment	21,187			(112		)	21,075
Goodwill	491,339			6,017			497,356
Other intangibles	484,210			—			484,210
Other assets	—			361			361
Current liabilities	(48,417		)	(2,313		)	(50,730		)
Long-term deferred tax liability	—			380			380
Other non-current liabilities	(8,161		)	—			(8,161		)
Net assets acquired and liabilities assumed	$	1,013,871		$	3,874		$	1,017,745