Acquisitions (Tables)

3 Months Ended

Apr. 04, 2021

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated, preliminary fair values of the assets acquired and the liabilities assumed as of January 29, 2021 (in thousands):

Receivables	$	7,617
Inventories	12,805
Other current assets	5,240
Property, plant and equipment	602
Intangible assets	33,500
Goodwill	39,337
Operating lease right-of-use assets	2,250
Other long-lived assets	706
Total assets acquired	$	102,057
Accounts payable	$	5,931
Accrued liabilities	9,991
Long-term debt	1,841
Post retirement benefits	2,917
Deferred income taxes	5,372
Long-term operating lease liabilities	1,870
Other long-term liabilities	771
Total liabilities assumed	$	28,693
Net assets	$	73,364
Noncontrolling interests	20
Net assets attributable to Belden	$	73,344

Schedule of Acquired Intangible Assets

The goodwill is primarily attributable to the expansion of industrial automation product offerings in complete end-to-end solutions. 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	$	20,000	5.0
Customer relationships	7,500		12.0
Sales backlog	3,500		0.9
Trademarks	1,500		2.0
Non-compete agreements	1,000		2.0
Total intangible assets subject to amortization	$	33,500
Intangible assets not subject to amortization:
Goodwill	$	39,337	n/a
Total intangible assets not subject to amortization	$	39,337
Total intangible assets	$	72,837
Weighted average amortization period			5.9

Schedule of Pro Forma Information

The following table illustrates the unaudited pro forma effect on operating results as if the OTN acquisition had been completed as of January 1, 2020.

	Three Months Ended		Three Months Ended
	April 4, 2021		March 29, 2020
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	536,780	$	468,700
Net income from continuing operations attributable to Belden common stockholders	28,216		9,697
Diluted income from continuing operations per share attributable to Belden common stockholders	$	0.63	$	0.21