Acquisitions and Purchase Accounting Acquisition and Purchase Accounting (Tables)

9 Months Ended

Sep. 26, 2020

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information

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

	Nine Months Ended
	September 26, 2020		September 28, 2019
Net sales	$	1,786,481	$	2,262,959
Net earnings	158,115		231,068
Net earnings per share:
Basic	$	2.87	$	4.15
Diluted	$	2.87	$	4.15

Cooking Solutions Group

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

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

	(as initially reported) April 1, 2019		Measurement Period Adjustments		(as adjusted) April 1, 2019
Cash	$	843	$	—	$	843
Current assets	33,666		(1,625)		32,041
Property, plant and equipment	15,959		(58)		15,901
Goodwill	31,207		6,330		37,537
Other intangibles	53,450		(5,850)		47,600
Other assets	—		1,470		1,470
Current liabilities	(15,130)		(1,583)		(16,713)
Long-term deferred tax liability	(13,082)		2,553		(10,529)
Other non-current liabilities	—		(1,163)		(1,163)
Net assets acquired and liabilities assumed	$	106,913	$	74	$	106,987

2019 Acquisitions

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the other 2019 acquisitions and are summarized as follows (in thousands):

	Preliminary Opening Balance Sheet		Preliminary Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	2,683	$	(10)	$	2,673
Current assets	21,525		1,016		22,541
Property, plant and equipment	8,920		(166)		8,754
Goodwill	99,838		(11,213)		88,625
Other intangibles	64,019		11,363		75,382
Long-term deferred tax asset	1,288		1,428		2,716
Other assets	137		854		991
Current liabilities	(20,437)		(348)		(20,785)
Other non-current liabilities	(6,170)		(4,129)		(10,299)
Consideration paid at closing	$	171,803	$	(1,205)	$	170,598
Deferred payments	2,404		—		2,404
Contingent consideration	4,258		3,600		7,858
Net assets acquired and liabilities assumed	$	178,465	$	2,395	$	180,860

2020 Acquisitions

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are based on the information that was available as of the acquisition dates for the acquisitions and are summarized as follows (in thousands):

	Preliminary Opening Balance Sheet		Preliminary Measurement Period Adjustments		Adjusted Opening Balance Sheet
Cash	$	2,347	$	—	$	2,347
Current assets	31,089		(12,908)		18,181
Property, plant and equipment	1,032		(241)		791
Goodwill	12,776		672		13,448
Other intangibles	16,484		—		16,484
Other assets	1,708		—		1,708
Current liabilities	(30,005)		12,477		(17,528)
Other non-current liabilities	(3,070)		—		(3,070)
Consideration paid at closing	$	32,361	$	—	$	32,361
Deferred payments	1,250		—		1,250
Contingent consideration	1,774		—		1,774
Net assets acquired and liabilities assumed	$	35,385	$	—	$	35,385