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Acquisition (Tables)
 6 Months Ended
Jun. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 2024 acquisitions:

(In thousands)
Total
Cash and Cash Equivalents$10,016 
Accounts Receivable11,995 
Inventories25,033 
Other Current Assets3,203 
Property, Plant, and Equipment38,758 
Other Assets13,417 
Definite-Lived Intangible Assets
Customer relationships113,833 
Product technology20,000 
Tradenames9,215 
Other
3,540 
Goodwill92,095 
Total assets acquired341,105 
Accounts Payable3,060 
Customer Deposits
2,890 
Other Current Liabilities7,807 
Long-Term Deferred Income Taxes5,331 
Other Long-Term Liabilities
12,806 
Total liabilities assumed31,894 
Noncontrolling interests acquired
9,319 
Net assets and noncontrolling interests acquired
$299,892 
Purchase Price:
Cash Paid
$301,591 
Estimated Remaining Post-closing Adjustments, Net
(1,699)
$299,892 
Revenue and Operating Income
Revenue and operating income for the three- and six-month periods ended June 29, 2024 associated with the 2024 acquisitions from their respective acquisition dates, are as follows:
Three Months Ended
Six Months Ended
 June 29,
2024		June 29,
2024
(In thousands)
Revenue$27,302 $51,598 
Operating Income, including acquisition-related costs (a)$1,439 $1,124 
(a) Acquisition-related costs include acquired profit in inventory and backlog amortization expense and acquisition costs.
Unaudited Supplemental Pro Forma Information
Had the Key Knife, KWS, and DSTI acquisitions been completed as of the beginning of 2023, the Company’s pro forma results of operations for the three- and six-month periods ended June 29, 2024 and July 1, 2023 would have been as follows:

Three Months Ended
Six Months Ended
June 29,
2024
 
July 1,
2023
 
June 29,
2024
 
July 1,
2023
(In thousands, except per share amounts)
Revenue$277,971 $279,073 $535,332 $542,850 
Net Income Attributable to Kadant$31,760 $27,895 $58,733 $51,499 
Earnings per Share Attributable to Kadant
Basic$2.70 $2.38 $5.01 $4.40 
Diluted$2.70 $2.38 $5.00 $4.40