Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Universal Robots

Final Allocation of Purchase Price

The following table represents the final allocation of the purchase price:

	Purchase Price Allocation
	(in thousands)
Goodwill	$	221,128
Intangible assets		121,590
Tangible assets acquired and liabilities assumed:
Current assets		10,853
Non-current assets		3,415
Accounts payable and current liabilities		(11,976	)
Long-term deferred tax liabilities		(26,653	)
Long-term other liabilities		(2,920	)
Total purchase price	$	315,437

Components of Intangible Assets and Their Estimated Useful Lives at Acquisition Date

Components of these intangible assets and their estimated useful lives at the acquisition date are as follows:

	Fair Value		Estimated Useful Life
	(in thousands)		(in years)
Developed technology	$	89,240		4.9
Trademarks and tradenames		22,920		10.0
Customer relationships		9,430		2.0
Total intangible assets	$	121,590		5.6

Pro Forma Results Under Acquisitions

The unaudited pro forma results are not necessarily indicative of what actually would have occurred had the acquisition been in effect for the periods presented:

	For the Year Ended
	December 31, 2014
	(in thousands, except per share amounts)
Revenues	$	1,655,038
Net income	$	82,169
Income per common share:
Basic	$	0.40
Diluted	$	0.37

Avionics Interface Technologies, LLC

Final Allocation of Purchase Price

The following represents the final allocation of the purchase price:

	Purchase Price Allocation
	(in thousands)
Goodwill	$	10,516
Intangible assets		9,080
Tangible assets acquired and liabilities assumed:
Current assets		2,452
Non-current assets		359
Accounts payable and current liabilities		(1,164	)
Total purchase price	$	21,243

Components of Intangible Assets and Their Estimated Useful Lives at Acquisition Date

Components of these intangible assets and their estimated useful lives at the acquisition date are as follows:

	Fair Value		Estimated Useful Life
	(in thousands)		(in years)
Customer relationships	$	5,630		5.0
Developed technology		2,580		4.8
Trademarks and tradenames		380		5.0
Non-compete agreement		320		4.0
Customer order backlog		170		0.3
Total intangible assets	$	9,080		4.8

Pro Forma Results Under Acquisitions

The unaudited pro forma results are not necessarily indicative of what actually would have occurred had the acquisition been in effect for the periods presented:

	For the Years Ended
	December 31, 2015		December 31, 2014
	(in thousands, except per share amounts)
Revenue	$	1,657,626	$	1,686,689
Net income	$	199,784	$	61,078
Net income per common share:
Basic	$	0.94	$	0.30
Diluted	$	0.94	$	0.27