Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 30, 2017

Acquisitions and Dispositions [Abstract]

Schedule of final valuation of the long-lived assets

The following table summarizes the allocation of the purchase price to acquire these businesses, which was financed by available cash balances, as well as the assets acquired and liabilities assumed at the respective acquisition dates. The purchase price allocation for Heatlink Group is provisional as of December 30, 2017 and subject to change upon completion of the final valuation of the long-lived assets during the measurement period. During 2017, the valuation of the Jungwoo-Mueller acquisition was finalized and changes to the purchase price allocation from the amounts presented in the Company’s 2016 Consolidated Financial Statements were immaterial.



(in thousands)	Heatlink Group		Jungwoo-Mueller		Great Lakes			Sherwood			Turbotec

Total consideration	$	16,317	$	20,533	$	70,011		$	21,795		$	14,138

Allocated to:
Accounts receivable	2,809		5,551		26,079			6,490			1,936
Inventories	4,648		17,616		15,233			11,892			3,247
Other current assets	508		1,437		22			260			72
Property, plant, and equipment	2,024		24,191		22,771			10,327			9,080
Goodwill	4,071		223		23,208		⁽¹⁾	—			2,088
Intangible assets	6,413		756		27,468			(38		)	880
Other assets	—		277		1,413			—			59
Total assets acquired	20,473		50,051		116,194			28,931			17,362

Accounts payable	3,633		7,252		36,026			6,022			1,603
Accrued wages & other employee costs	—		—		—			471			356
Other current liabilities	523		577		381			487			51
Long-term debt	—		8,659		—			—			—
Pension and other postretirement liabilities	—		799		5,655			—			—
Other noncurrent liabilities	—		582		4,121			156			1,214
Total liabilities assumed	4,156		17,869		46,183			7,136			3,224

Noncontrolling interest	—		11,649		—			—			—

Net assets acquired	$	16,317	$	20,533	$	70,011		$	21,795		$	14,138

⁽¹⁾ Tax-deductible goodwill

Intangible assets identified in the allocation of the purchase price

The following details the total intangible assets identified in the allocation of the purchase price at the respective acquisition dates:



(in thousands)	Estimated Useful Life	Heatlink Group		Jungwoo-Mueller		Great Lakes		Turbotec

Intangible asset type:
Customer relationships	20 years	$	4,265	$	—	$	20,273	$	350
Non-compete agreements	3-5 years	74		—		2,269		90
Patents and technology	10-15 years	1,466		756		3,104		220
Trade names, licenses, and other	5-10 years	608		—		1,822		220

Total intangible assets		$	6,413	$	756	$	27,468	$	880