Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2019

Acquisitions and Dispositions

Schedule of acquisition date fair value of the consideration transferred net of cash acquired

	Acquisition Date
	(May 26, 2017)
	(in thousands)
Cash consideration, net of cash acquired of $229.4 million	$	404,490
Equity consideration (7.2 million shares issued)		228,643
Replacement equity awards attributable to pre-acquisition service		228
Acquisition date fair value	$	633,361

Summary of the estimated fair values of the assets acquired, net of cash acquired, and liabilities assumed

	Acquisition Date
	(May 26, 2017)
	(in thousands)
Short-term investments	$	47,161
Accounts receivable		45,465
Inventories		59,100
Deferred cost of sales		242
Prepaid expense and other current assets		7,217
Property, plant, and equipment		18,152
Intangible assets		346,940
Other assets		6,442
Total identifiable assets acquired		530,719
Accounts payable		24,291
Accrued expenses and other current liabilities		16,356
Customer deposits and deferred revenue		4,834
Deferred income taxes		32,478
Other liabilities		11,622
Total liabilities assumed		89,581
Net identifiable assets acquired		441,138
Goodwill		192,223
Net assets acquired	$	633,361

Schedule of classes of intangible assets acquired and the estimated weighted-average useful life of each class

	Acquisition Date
	(May 26, 2017)
	Amount		Useful life
	(in thousands)
Technology	$	158,390	9	years
Customer relationships		116,710	12	years
Backlog		3,080	6	months
In-process research and development		43,340	*
Trademark and tradenames		25,420	7	years
Intangible assets acquired	$	346,940

* In-process research and development will be amortized (or impaired) upon completion (or abandonment) of the development project.

Schedule of amounts of revenue and income (loss) from continuing operations before income taxes

	Year ended
	December 31, 2017
	(in thousands)
Net sales	$	65,280
Loss before income taxes	$	(62,284)

Schedule of pro forma financial information

	Year ended December 31, 2017
	(in thousands, except per share amounts)
Net sales	$	546,428
Loss before income taxes		(90,000)
Diluted earnings per share	$	(1.38)

Schedule of assets held for sale

	December 31, 2019
	(in thousands)
Assets held for sale:
Inventories	$	5,985
Property, plant, and equipment, net		310
Intangible assets, net		6,546
Goodwill		2,359
Impairment		(4,020)
Total Assets held for sale	$	11,180