Acquisitions (Tables)

12 Months Ended

Dec. 26, 2020

Business Combinations [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following table summarizes the purchase price allocation of the fair value of assets acquired and liabilities assumed in the IXYS acquisition: 

(in thousands)	Purchase Price Allocation
Total purchase consideration:
Cash, net of cash acquired	302,865
Cash settled stock options	3,622
Littelfuse stock	434,192
Converted stock options	38,109
Total purchase consideration	778,788
Allocation of consideration to assets acquired and liabilities assumed:
Current assets, net	155,930
Property, plant, and equipment	77,442
Intangible assets	212,720
Goodwill	382,360
Other non-current assets	28,706
Other non-current liabilities	(78,370)
	778,788

Summary of business acquisition, pro forma information

The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company and IXYS as though the acquisition had occurred as of January 1, 2017. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the IXYS acquisition occurred as of January 1, 2017 or of future consolidated operating results.

	For the Fiscal Year Ended
(in thousands, except per share amounts)	December 29, 2018
Net sales	$	1,735,181
Income before income taxes	272,724
Net income	215,228
Net income per share — basic	8.61
Net income per share — diluted	8.53

Summary of business acquisition, pro forma information, nonrecurring adjustments

Pro forma results presented above primarily reflect the following adjustments:

	For the Fiscal Year Ended
(in thousands)	December 29, 2018
Amortization(a)	$	12,009
Transaction costs(b)	9,976
Amortization of inventory step-up(c)	36,927
Stock compensation(d)	5,845
Income tax impact of above items	(15,446)

(a)The amortization adjustment for the twelve months ended December 29, 2018 primarily reflects the reduction of amortization expense in the period related to the Order backlog intangible asset. The Order backlog has a useful life of twelve months and is fully amortized in the fiscal 2017 for pro forma results.

(b)The transaction cost adjustments reflect the reversal of certain bank and attorney fees from the twelve months ended December 29, 2018.

(c)The amortization of inventory step-up adjustment reflects the reversal of the amount recognized during the twelve months ended December 29, 2018. The inventory step-up was amortized over five months as the inventory was sold.

(d)The stock compensation adjustment reflects the reversal of the portion of stock compensation for IXYS stock options that were converted to Littelfuse stock options and expensed immediately during the twelve months ended December 29, 2018.