Business Acquisitions and Investments (Tables)

9 Months Ended

Sep. 29, 2018

Summary of Preliminary Fair Value of Total Consideration

The following table summarizes the fair value of the total consideration related to MAS:

(in thousands)	Total Acquisition Date Fair Value
Cash consideration (net of $3.3 million cash acquired)	$	56,859
Contingent cash consideration		7,982
Seller liability assumed		896
Working capital adjustment		1,486
Total consideration assigned to net assets acquired	$	67,223

Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed as of October 26, 2017:

(in thousands)	October 26, 2017 (As initially reported)		Measurement period adjustments			October 26, 2017 (As adjusted)
Current assets (net of $3.3 million cash acquired)	$	21,756	$	90		$	21,846
Property, plant and equipment		1,615		-			1,615
Intangible assets		20,440		-			20,440
Goodwill		35,624		(193	)		35,431
Total assets acquired		79,435		(103	)		79,332
Current liabilities		5,691		(50	)		5,641
Long-term liabilities		6,468		-			6,468
Total liabilities assumed		12,159		(50	)		12,109
Net assets acquired	$	67,276	$	(53	)	$	67,223

Schedule of Valuation of Intangible Assets Acquired and Related Amortization Periods

The valuation of the intangible assets acquired and related amortization periods are as follows:

(in thousands)	Valuation		Amortization Period (in years)
Customer relationships	$	14,840	8-12
Tradenames		5,600	15
Total	$	20,440

Schedule of Pro Forma Financial Information

The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of the operations that actually would have been achieved had the acquisition been consummated as of that time:

	Thirty-Nine Weeks Ended
(in thousands)	September 30, 2017
Net sales	$	702,811
Net income	$	85,307
Diluted earnings per share	$	2.49