Acquisitions (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and the liabilities assumed as of December 10, 2012 (in thousands).

Cash	$	6,874
Receivables		27,082
Inventories		45,370
Other current assets		468
Property, plant and equipment		28,020
Goodwill		277,005
Intangible assets		164,500
Other non-current assets		134
Total assets	$	549,453
Accounts payable	$	22,499
Accrued liabilities		3,916
Other long-term liabilities		646
Total liabilities		27,061
Net assets	$	522,392

Intangible Assets Related to Acquisition

Intangible assets related to the PPC acquisition consisted of the following:

	Estimated Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Developed technologies	$	76,000		5.0
Customer relationships		55,000		20.0
Backlog		1,500		0.5
Total intangible assets subject to amortization		132,500
Intangible assets not subject to amortization:
Goodwill		277,005
In-process research and development		5,000
Trademarks		27,000
Total intangible assets not subject to amortization		309,005
Total intangible assets	$	441,505
Weighted average amortization period				11.2

Pro Forma Effect on Operating Results

The following table illustrates the unaudited pro forma effect on operating results as if the Miranda and PPC acquisitions had been completed as of January 1, 2011.

	Three Months Ended July 1, 2012		Six Months Ended July 1, 2012
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	560,487	$	1,096,399
Income from continuing operations		42,274		65,384
Diluted income per share from continuing operations	$	0.91	$	1.40