Acquisition (Tables)

3 Months Ended

Mar. 30, 2024

Business Combination and Asset Acquisition [Abstract]

Summary of Net Assets and Noncontrolling Interests Acquired

The following table summarizes the aggregate estimated fair values of the net assets and noncontrolling interests acquired and purchase price for the Key Knife and KWS acquisitions:

(In thousands)	Total
Cash and Cash Equivalents	$	5,673
Accounts Receivable	10,021
Inventories	15,156
Other Current Assets	1,132
Property, Plant, and Equipment	33,648
Other Assets	4,755
Definite-Lived Intangible Assets
Customer relationships	99,300
Product technology	14,700
Tradenames	7,450
Acquired backlog	1,700
Goodwill	72,526
Total assets acquired	266,061
Accounts Payable	2,263
Customer Deposits	2,877
Other Current Liabilities	4,470
Long-Term Deferred Income Taxes	4,292
Other Long-Term Liabilities	4,534
Total liabilities assumed	18,436
Noncontrolling interests acquired	9,319
Net assets and noncontrolling interests acquired	$	238,306
Purchase Price:
Cash Paid at Closing	$	237,934
Post-closing Adjustments	372
	$	238,306

Unaudited Supplemental Pro Forma Information

Had the acquisitions of Key Knife and KWS been completed as of the beginning of 2023, the Company’s pro forma results of operations for the quarters ended March 30, 2024 and April 1, 2023 would have been as follows:

	Three Months Ended
	March 30, 2024		April 1, 2023
(In thousands, except per share amounts)
Revenue	$	251,640	$	257,391
Net Income Attributable to Kadant	$	27,310	$	24,824
Earnings per Share Attributable to Kadant
Basic	$	2.33	$	2.13
Diluted	$	2.33	$	2.12