Acquisitions (Tables)

9 Months Ended

Sep. 28, 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	$	2,517
Receivables		5,559
Inventories		3,624
Other current assets		240
Property, plant and equipment		1,061
Goodwill		57,075
Intangible assets		40,800
Other non-current assets		622
Total assets	$	111,498
Accounts payable	$	2,851
Accrued liabilities		2,515
Other non-current liabilities		1,132
Total liabilities	$	6,498
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	$	26,600		20.0
Developed technologies		9,000		5.0
Trademarks		5,000		5.0
Backlog		200		0.3
Total intangible assets subject to amortization		40,800
Intangible assets not subject to amortization:
Goodwill		57,075
Total intangible assets not subject to amortization		57,075
Total intangible assets	$	97,875
Weighted average amortization period				14.8

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		70,142
Inventories		19,607
Other current assets		4,172
Property, plant and equipment		23,071
Goodwill		118,733
Intangible assets		95,500
Other non-current assets		16,637
Total assets	$	357,259
Accounts payable	$	51,276
Accrued liabilities		56,057
Deferred revenue		14,000
Postretirement benefits		16,538
Other non-current liabilities		1,199
Total liabilities	$	139,070
Net assets	$	218,189

Intangible Assets Related to Acquisition

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

	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		118,733
Trademarks		22,000
In-process research and development		8,000
Total intangible assets not subject to amortization		148,733
Total intangible assets	$	214,233
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				Nine Months Ended
	September 28, 2014		September 29, 2013		September 28, 2014		September 29, 2013
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	612,617	$	609,760	$	1,790,876	$	1,851,860
Income from continuing operations		36,036		70,399		49,645		81,707
Diluted income per share from continuing operations	$	0.82	$	1.58	$	1.12	$	1.82