Acquisitions (Tables) - Mobile Industrial Robots (MiR)

6 Months Ended

Jul. 01, 2018

Allocation of Preliminary Purchase Price

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

	Purchase Price Allocation
	(in thousands)
Goodwill	$	135,747
Intangible assets		79,660
Tangible assets acquired and liabilities assumed:
Current assets		6,039
Non-current assets		299
Accounts payable and current liabilities		(7,336	)
Long-term deferred tax liabilities		(17,779	)
Total purchase price	$	196,630

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	$	63,820		7.0
Trademarks and tradenames		12,060		11.0
Customer relationships		3,770		2.5
Backlog		10		0.2
Total intangible assets	$	79,660		7.4

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 Three Months Ended				For the Six Months Ended
	July 1, 2018		July 2, 2017		July 1, 2018		July 2, 2017
	(in thousands)
Revenue	$	528,238	$	699,790	$	1,021,194	$	1,158,228
Net income		101,780		172,238		186,787		251,728
Net income per common share:
Basic	$	0.53	$	0.87	$	0.97	$	1.26
Diluted	$	0.52	$	0.85	$	0.94	$	1.25