Acquisitions (Tables)

6 Months Ended

Jun. 28, 2020

Business Combinations [Abstract]

Assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price over the estimated fair values of the major assets acquired, liabilities assumed, and noncontrolling interest (in millions):

Accounts receivable	$	8.1
Unbilled receivables	4.9
Inventoried costs	7.8
Other current assets	1.8
Property and equipment	5.7
Intangible assets	30.8
Goodwill	23.3
Total identifiable net assets acquired	82.4
Total identifiable net liabilities assumed	(7.5)
Net assets before noncontrolling interest	74.9
Noncontrolling interest	(14.9)
Net assets acquired, excluding cash	$	60.0

Consideration paid

A summary of the consideration paid for the acquired ownership in FTT is as follow:

Cash paid	$	20.7
Deferred purchase consideration	15.3
Common stock issued	27.0
	63.0
Less: Cash acquired	(3.0)
Total consideration	$	60.0

Pro forma information

For the six months ended June 30, 2019 (all amounts, except per share amounts, are in millions):

Pro forma revenues	$	356.4
Pro forma net income before tax	$	5.1
Pro forma net income	$	6.5
Pro forma net income attributable to Kratos	$	6.3
Basic pro forma income per share attributable to Kratos	$	0.06
Diluted pro forma income per share attributable to Kratos	$	0.06