Business Combinations (Tables)
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12 Months Ended |
Jan. 02, 2015
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Business Acquisition [Line Items] |
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Schedule of Business Combination, Separately Recognized Transactions |
The following table summarizes the Company’s business combinations completed during fiscal 2014, 2013 and 2012 including TMW:
| | | | | | | | | | | | | (In thousands) | Fiscal 2014 | | Fiscal 2013 | | Fiscal 2012 | Fair value of total purchase consideration | $ | 331,776 |
| | $ | 284,710 |
| | $ | 747,822 |
| Fair value of net assets acquired | 41,143 |
| | 20,919 |
| | 28,846 |
| Identified intangible assets | 155,829 |
| | 130,063 |
| | 284,861 |
| Deferred taxes | (46,831 | ) | | (26,326 | ) | | (69,774 | ) | Noncontrolling interests | — |
| | (1,968 | ) | | (387 | ) | Goodwill | $ | 181,635 |
| | $ | 162,022 |
| | $ | 504,276 |
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Schedule Of Total Intangible Assets |
The following table presents details of the Company’s total intangible assets: | | | | | | | | | | | | | | | | | | | | | | | | | | At the End of Fiscal 2014 | | At the End of Fiscal 2013 | (In thousands) | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | Developed product technology | $ | 770,397 |
| | $ | (445,418 | ) | | $ | 324,979 |
| | $ | 699,479 |
| | $ | (363,389 | ) | | $ | 336,090 |
| Trade names and trademarks | 51,216 |
| | (33,909 | ) | | 17,307 |
| | 46,195 |
| | (28,699 | ) | | 17,496 |
| Customer relationships | 455,003 |
| | (226,798 | ) | | 228,205 |
| | 424,630 |
| | (189,338 | ) | | 235,292 |
| Distribution rights and other intellectual properties | 78,506 |
| | (54,443 | ) | | 24,063 |
| | 79,844 |
| | (49,323 | ) | | 30,521 |
| | $ | 1,355,122 |
| | $ | (760,568 | ) | | $ | 594,554 |
| | $ | 1,250,148 |
| | $ | (630,749 | ) | | $ | 619,399 |
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Schedule Of Amortization Expense Of Purchased And Other Intangible Assets |
The following table presents details of the amortization expense of purchased and other intangible assets as reported in the Consolidated Statements of Income: | | | | | | | | | | | | | Fiscal Years | 2014 | | 2013 | | 2012 | (In thousands) | | | | | | Reported as: | | | | | | Cost of sales | $ | 82,913 |
| | $ | 81,119 |
| | $ | 60,277 |
| Operating expenses | 75,599 |
| | 81,722 |
| | 65,430 |
| Total | $ | 158,512 |
| | $ | 162,841 |
| | $ | 125,707 |
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Schedule Of Estimated Future Amortization Expense Of Intangible Assets |
The estimated future amortization expense of intangible assets at the end of fiscal 2014 is as follows (in thousands): | | | | | | | 2015 | $ | 165,946 |
| 2016 | 142,154 |
| 2017 | 118,866 |
| 2018 | 89,427 |
| 2019 | 46,386 |
| Thereafter | 31,775 |
| Total | $ | 594,554 |
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Schedule Of Changes In Carrying Amount Of Goodwill |
The changes in the carrying amount of goodwill for fiscal 2014 are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | Engineering and Construction | | Field Solutions | | Mobile Solutions | | Advanced Devices | | Total | At the end of fiscal 2013 | $ | 1,080,240 |
| | $ | 88,651 |
| | $ | 796,094 |
| | $ | 24,485 |
| | $ | 1,989,470 |
| Additions due to acquisitions | 170,054 |
| | 11,581 |
| | — |
| | — |
| | 181,635 |
| Purchase price adjustments | (5,856 | ) | | (298 | ) | | 3,441 |
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| | (2,713 | ) | Foreign currency translation adjustments | (58,462 | ) | | (3,993 | ) | | (3,523 | ) | | (1,245 | ) | | (67,223 | ) | At the end of fiscal 2014 | $ | 1,185,976 |
| | $ | 95,941 |
| | $ | 796,012 |
| | $ | 23,240 |
| | $ | 2,101,169 |
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Schedule of Business Acquisitions, by Acquisition |
The following table summarizes the consideration transferred to acquire TMW, the assets acquired and liabilities assumed, and the estimated useful lives of the identifiable intangible assets acquired as of the acquisition date: | | | | | | | | (Dollars in thousands) | | | | | Total purchase consideration | $ | 333,414 |
| | | | Net tangible assets acquired | 3,068 |
| | | | Intangible assets acquired: | | | Estimated Useful Life | | Developed product technology | 71,250 |
| | 6 years | | Order backlog | 2,630 |
| | 1 year | | Customer relationships | 70,900 |
| | 8 years | | Trade name | 4,200 |
| | 5 years | | Subtotal | 148,980 |
| | | | Deferred tax liability | (52,495 | ) | | | | Less fair value of all assets/liabilities acquired | 99,553 |
| | | | Goodwill | $ | 233,861 |
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Schedule Of Net Tangible Assets Acquired |
Details of the net tangible assets acquired are as follows: | | | | | | | (In thousands) | | | | Cash and cash equivalents | $ | 1,478 |
| | | Accounts receivable | 17,719 |
| | | Other receivables | 549 |
| | | Deferred income taxes | 1,162 |
| | | Other current assets | 1,967 |
| | | Property and equipment, net | 1,773 |
| | | Other non-current assets | 278 |
| | | Accounts payable | (409 | ) | | | Accrued liabilities | (8,642 | ) | | | Deferred revenue liability | (7,677 | ) | | | Deferred income tax liabilities | (4,841 | ) | | | Other non-current liabilities | (289 | ) | | | Net tangible assets acquired | $ | 3,068 |
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Schedule Of Pro Forma Financial Information |
The pro forma information for fiscal 2012 is as follows: | | | | | | | Fiscal Years | 2012 | | | (In thousands, except per share data) | | | | Total revenues | $ | 2,132,918 |
| | | Net income | 193,837 |
| | | Net income attributable to Trimble Navigation Ltd. | 195,181 |
| | | Basic earnings per share | $ | 1.55 |
| | | Diluted earnings per share | $ | 1.52 |
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