Acquisitions (Tables)

9 Months Ended

Oct. 03, 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	38,915
Operating lease right-of-use assets	4,144
Other long-lived assets	706
Total assets acquired	$	101,394
Accounts payable	$	5,931
Accrued liabilities	4,485
Deferred revenues	3,260
Long-term debt	1,841
Post retirement benefits	3,581
Deferred income taxes	4,889
Long-term operating lease liabilities	3,271
Other long-term liabilities	771
Total liabilities assumed	$	28,029
Net assets	$	73,365
Noncontrolling interests	20
Net assets attributable to Belden	$	73,345

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	$	38,915	n/a
Total intangible assets not subject to amortization	$	38,915
Total intangible assets	$	78,845
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 Systems acquisition had been completed as of January 1, 2020.

	Three Months Ended				Nine Months Ended
	October 3, 2021		September 27, 2020		October 3, 2021		September 27, 2020
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	631,338	$	479,137	$	1,770,941	$	1,380,778
Net income from continuing operations attributable to Belden common stockholders	42,041		17,071		114,752		30,285
Diluted income from continuing operations per share attributable to Belden common stockholders	$	0.93	$	0.38	$	2.54	$	0.67