Acquisitions (Tables)

3 Months Ended

Apr. 02, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table presents the preliminary fair value determination of the assets acquired and liabilities assumed as of February 17, 2017 with respect to the Vascular Solutions acquisition, which was accounted for as a business combination:



	(Dollars in thousands)
Assets
Current assets	$	64,232
Property, plant and equipment	46,886
Intangible assets	539,250
Goodwill	521,396
Other assets	728
Total assets acquired	1,172,492
Less:
Current liabilities	13,470
Deferred tax liabilities	183,498
Liabilities assumed	196,968
Net assets acquired	$	975,524

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table sets forth the components of identifiable intangible assets acquired and the ranges of the useful lives as of the date of acquisition:



	Fair value	Useful life range
	(Dollars in thousands)	(Years)
Intellectual property	248,200	10- 20
In-process research and development ("IPR&D")	15,600	Indefinite
Trade names	16,650	20
Customer lists	258,800	25

Business Acquisition, Pro Forma Information

The following unaudited pro forma combined financial information for the three months ended April 2, 2017 and March 27, 2016, respectively, gives effect to the Vascular Solutions acquisition as if it was completed at the beginning of each of the respective periods.



	Three Months Ended
	April 2, 2017		March 27, 2016
	(Dollars and shares in thousands, except per share)
Net revenue	$	510,705	$	464,124
Net income	$	26,247	$	36,186
Basic earnings per common share:
Net income	$	0.58	$	0.87
Diluted earnings per common share:
Net income	$	0.56	$	0.74
Weighted average common shares outstanding:
Basic	44,893		41,647
Diluted	46,615		48,782