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Gentherm Global Power Technologies (Tables)

12 Months Ended

Dec. 31, 2015

The final purchase price allocation is as follows:


Accounts receivable	$	10,200
Inventory		6,487
Deferred income tax assets, net		3,499
Order backlog		815
Prepaid expenses and other assets		258
Property and equipment		716
Customer relationships		5,524
Technology		2,807
Trade name		725
Goodwill		6,365
Assumed liabilities		(6,530	)
Net assets acquired		30,866
Cash acquired		2,954
Purchase price	$	33,820

Supplemental Pro Forma Information

The unaudited pro forma combined historical results for the amounts of GPT’s revenue and earnings that would have been included in the Company’s consolidated statements of income had the acquisition occurred on January 1, 2014 and January 1, 2013 are as follows:

	Year Ended December 31,
	2014		2013
Product revenues	$	824,311	$	694,697
Net income		71,997		35,348

Roll Forward of Goodwill from Acquisition

Intangible assets, net of accumulated amortization, consisted of the following (balances are lower as of December 31, 2014 than as of April 1, 2014, the acquisition date, due to fluctuations in foreign currency exchange rates totaling $465):

	December 31, 2014
	Gross Value		Accumulated Amortization			Net Value		Useful Life
Customer relationships	$	5,264	$	(334	)	$	4,930	12 yrs
Order backlog		777		(777	)		—	0.5 yrs
Technology		2,675		(204	)		2,471	10 yrs
Trade name		690		(150	)		540	3.5 yrs
Total	$	9,406	$	(1,465	)	$	7,941

Summary of Amortization Expense

Amortization expense of $1,962 for the year ended December 31, 2014 was recorded as follows:

	Year Ended December 31, 2014
Product revenues	$	(350	)
Selling, general and administrative expense		1,612

Estimate of Total Intangible Asset Amortization

Amortization expense for the prospective five years is estimated to be as follows:

2015	$	903
2016		903
2017		854
2018		706
2019		706

Summary of Property and Equipment

Property and equipment consist of the following:

Asset Category	Useful Life	Amount
Land	Indefinite	$	15
Buildings	20 yrs		81
Leasehold improvements	5-7 yrs		28
Machinery and equipment	2-5 yrs		423
Computer hardware and software	3-5 yrs		169
		$	716