Business Acquisitions and Investments (Tables) - Dayton Parts [Member]

9 Months Ended

Sep. 25, 2021

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The table below details the estimated fair values of the assets acquired and the liabilities assumed at the acquisition date:

(in thousands)
Accounts receivable	$	23,061
Inventories		79,625
Prepaids and other current assets		2,403
Property, plant and equipment		29,861
Goodwill		108,946
Identifiable intangible assets		160,400
Operating lease right-of-use assets		21,248
Other assets		877
Accounts payable		(11,968	)
Accrued compensation		(2,784	)
Other current liabilities		(7,409	)
Long-term operating lease liabilities		(18,444	)
Deferred tax liabilities		(40,333	)
Net cash consideration	$	345,483

Schedule of Valuation of Intangible Assets Acquired and Related Amortization Periods

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

(in thousands)	Fair Value		Amortization Period (in years)
Customer relationships	$	124,100		20
Product portfolio		25,300		20
Trade names		11,000		10
Total	$	160,400

Summary of Unaudited Proforma Information

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

	Three Months Ended				Nine Months Ended
(in thousands)	September 25, 2021		September 26, 2020		September 25, 2021		September 26, 2020
Net sales	$	371,408	$	345,525	$	1,070,238	$	918,874
Net income	$	37,089	$	36,085	$	108,016	$	62,832
Diluted earnings per share	$	1.16	$	1.11	$	3.37	$	1.94