Business Acquisitions (Tables)

9 Months Ended

Dec. 31, 2018

Schedule of recognized identified assets acquired and liabilities assumed

The table below represents the preliminary allocation of the purchase price to the net assets acquired based on their estimated fair values, as well as the associated estimated useful lives of the acquired intangible assets (in millions).



	Previously reported September 30, 2018			Adjustments			December 31, 2018
Assets acquired
Cash and cash equivalents	$	340.0		$	—		$	340.0
Accounts receivable	216.1			—			216.1
Inventories	625.0			(53.5		)	571.5
Other current assets	66.6			18.6			85.2
Property, plant and equipment	201.9			—			201.9
Goodwill	4,488.5			(5.5		)	4,483.0
Purchased intangible assets	5,466.9			—			5,466.9
Long-term deferred tax assets	6.0			—			6.0
Other assets	57.2			—			57.2
Total assets acquired	11,468.2			(40.4		)	11,427.8

Liabilities assumed
Accounts payable	(226.9		)	(6.9		)	(233.8		)
Other current liabilities	(174.8		)	5.4			(169.4		)
Long-term debt	(2,056.9		)	—			(2,056.9		)
Deferred tax liabilities	(617.2		)	12.5			(604.7		)
Long-term income tax payable	(101.6		)	14.4			(87.2		)
Other long-term liabilities	(46.3		)	15.0			(31.3		)
Total liabilities assumed	(3,223.7		)	40.4			(3,183.3		)
Purchase price allocated	$	8,244.5		$	—		$	8,244.5

Schedule of purchased intangible assets



Purchased Intangible Assets	Weighted Average
	Useful Life	May 29, 2018
	(in years)	(in millions)
Core and developed technology	15	$	4,312.1
In-process research and development	—	794.2
Customer-related	12	326.9
Backlog	1	27.9
Other	4	5.8
Total purchased intangible assets		$	5,466.9

Schedule of pro-forma results of operations

The following unaudited pro-forma consolidated results of operations for the three and nine months ended December 31, 2018 and 2017 assume the closing of the Microsemi acquisition occurred as of April 1, 2017. The pro-forma adjustments are mainly comprised of acquired inventory fair value costs and amortization of purchased intangible assets. The pro-forma results of operations are presented for informational purposes only and are not indicative of the results of operations that would have been achieved if the acquisition had taken place on April 1, 2017 or of results that may occur in the future (in millions except per share data):



	Three Months Ended December 31,					Nine Months Ended December 31,
	2018		2017			2018		2017
Net sales	$	1,374.7	$	1,462.9		$	4,234.0	$	4,380.5
Net income (loss)	$	102.4	$	(438.8	)	$	420.5	$	(742.5	)
Basic net income (loss) per common share	$	0.43	$	(1.87	)	$	1.78	$	(3.20	)
Diluted net income (loss) per common share	$	0.42	$	(1.87	)	$	1.69	$	(3.20	)