Acquisitions (Tables)

9 Months Ended

Sep. 27, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and the liabilities assumed as of April 15, 2019 (in thousands):

Receivables	$	5,308
Inventory	7,359
Prepaid and other current assets	566
Property, plant, and equipment	1,328
Intangible assets	28,000
Goodwill	35,057
Deferred income taxes	80
Operating lease right-to-use assets	2,204
Other long-lived assets	2,070
Total assets acquired	$	81,972
Accounts payable	$	4,847
Accrued liabilities	4,301
Long-term deferred tax liability	6,813
Long-term operating lease liability	1,923
Other long-term liabilities	7,152
Total liabilities assumed	$	25,036
Net assets	56,936
Noncontrolling interests	5,195
Net assets attributable to Belden	$	51,741

Schedule of Acquired Intangible Assets

The goodwill is primarily attributable to expansion of product offerings in the optical fiber market. Our tax basis in the acquired goodwill is zero. The intangible assets related to the acquisition consisted of the following:

	Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Developed technologies	$	3,400	5.0
Customer relationships	22,800		15.0
Sales backlog	1,300		0.5
Trademarks	500		2.0
Total intangible assets subject to amortization	$	28,000
Intangible assets not subject to amortization:
Goodwill	$	35,057	n/a
Total intangible assets not subject to amortization	$	35,057
Total intangible assets	$	63,057
Weighted average amortization period			12.9

Schedule of Pro Forma Information

The following table illustrates the unaudited pro forma effect on operating results as if the Opterna acquisition had been completed as of January 1, 2018.

	Three Months Ended		Nine Months Ended
	September 29, 2019		September 29, 2019
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	533,098	$	1,590,206
Net income from continuing operations attributable to Belden common stockholders	39,721		91,459
Diluted income from continuing operations per share attributable to Belden common stockholders	$	0.89	$	2.21