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Note B - Acquisition of Veth Propulsion Holding BV - Consideration Transferred (Details) - Veth Propulsion [Member] - USD ($)
$ in Thousands
1 Months Ended 9 Months Ended
Jul. 02, 2018
Jan. 31, 2019
Mar. 29, 2019
Cash at closing $ 58,862   $ 58,862 [1]
Working capital adjustment settlement   $ 545 545
Fair value of contingent consideration at acquisition date [2]     2,921
Total     $ 62,328
[1] In the statement of cash flows, the cash used in the acquisition of Veth Propulsion in the amount of $60,195 includes the cash used to pay off the loan to the prior parent of Veth Propulsion, and is net of the cash, including restricted cash, acquired in the transaction, of $1,078 (see below for fair value of assets acquired and liabilities assumed).
[2] This pertains to the fair value of the earn-out at acquisition date, which was estimated based on a probability-weighted approach. Under ASC 805, Business Combinations, changes in fair value of this amount is recognized in the income statement and is not an adjustment to the opening balance sheet or the determination of goodwill. See discussion of Fair Value Adjustment of Contingent Consideration in Note N, Restructuring of Operations and Other Operating Income.