Acquisitions (Tables)

6 Months Ended

Jul. 04, 2021

Business Combination and Asset Acquisition [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	$	5,036
Inventories	10,700
Other current assets	1,361
Property, plant and equipment	602
Intangible assets	39,930
Goodwill	39,550
Operating lease right-of-use assets	4,144
Other long-lived assets	706
Total assets acquired	$	102,029
Accounts payable	$	5,931
Accrued liabilities	4,486
Deferred revenues	3,260
Long-term debt	1,841
Post retirement benefits	3,581
Deferred income taxes	5,522
Long-term operating lease liabilities	3,271
Other long-term liabilities	771
Total liabilities assumed	$	28,663
Net assets	$	73,366
Noncontrolling interests	20
Net assets attributable to Belden	$	73,346

Schedule of Acquired Intangible Assets

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	$	26,400	6.8
Customer relationships	6,200		15.0
Sales backlog	3,600		5.0
Trademarks	3,070		14.8
Non-compete agreements	660		2
Total intangible assets subject to amortization	$	39,930
Intangible assets not subject to amortization:
Goodwill	$	39,550	n/a
Total intangible assets not subject to amortization	$	39,550
Total intangible assets	$	79,480
Weighted average amortization period			8.5

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				Six Months Ended
	July 4, 2021		June 28, 2020		July 4, 2021		June 28, 2020
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	603,171	$	432,941	$	1,140,750	$	901,641
Net income from continuing operations attributable to Belden common stockholders	38,133		2,015		61,503		13,213
Diluted income from continuing operations per share attributable to Belden common stockholders	$	0.84	$	0.05	$	1.36	$	0.29