Acquisitions (Tables)

6 Months Ended

Jun. 29, 2014

Prosoft Technology, Inc. [Member]

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 June 11, 2014 (in thousands).

Cash	$	2,492
Receivables		6,026
Inventories		7,001
Other current assets		615
Property, plant and equipment		1,151
Goodwill		55,281
Intangible assets		37,400
Other non-current assets		78
Total assets	$	110,044
Accounts payable	$	2,455
Accrued liabilities		1,654
Other non-current liabilities		935
Total liabilities	$	5,044
Net assets	$	105,000

Intangible Assets Related to Acquisition

The preliminary intangible assets related to the acquisition consisted of the following:

	Preliminary      Estimated Fair      Value		Amortization      Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Customer relationships	$	22,000		10.0
Developed technologies		10,000		4.0
Backlog		400		0.3
Total intangible assets subject to amortization		32,400
Intangible assets not subject to amortization:
Goodwill		55,281
Trademarks		5,000
Total intangible assets not subject to amortization		60,281
Total intangible assets	$	92,681
Weighted average amortization period				8.0

Grass Valley [Member]

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 March 31, 2014 (in thousands).

Cash	$	9,397
Receivables		73,324
Inventories		19,777
Other current assets		4,172
Property, plant and equipment		23,071
Goodwill		106,176
Intangible assets		95,500
Other non-current assets		26,919
Total assets	$	358,336
Accounts payable	$	50,870
Accrued liabilities		58,633
Deferred revenue		14,000
Postretirement benefits		15,604
Other non-current liabilities		1,199
Total liabilities	$	140,306
Net assets	$	218,030

Intangible Assets Related to Acquisition

The preliminary intangible assets related to the acquisition consisted of the following:

	Preliminary      Estimated Fair      Value		Amortization      Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Developed technologies	$	37,000		5.0
Customer relationships		27,000		15.0
Backlog		1,500		0.3
Total intangible assets subject to amortization		65,500
Intangible assets not subject to amortization:
Goodwill		106,176
Trademarks		22,000
In-process research and development		8,000
Total intangible assets not subject to amortization		136,176
Total intangible assets	$	201,676
Weighted average amortization period				9.0

Grass Valley And Prosoft [Member]

Pro Forma Effect on Operating Results

The following table illustrates the unaudited pro forma effect on operating results as if the Grass Valley and ProSoft acquisitions had been completed as of January 1, 2013.

	Three Months Ended				Six Months Ended
	June 29, 2014		June 30, 2013		June 29, 2014		June 30, 2013
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	614,635	$	620,291	$	1,178,259	$	1,202,101
Income from continuing operations		10,718		19,937		12,625		9,924
Diluted income per share from continuing operations	$	0.24	$	0.45	$	0.29	$	0.22