Business Combinations (Tables) - Motion Solutions Parent Corp.

6 Months Ended

Jun. 28, 2024

Summary of Preliminary Valuation, Purchase Price

Based upon the Company’s preliminary valuation, the purchase price for Motion Solutions was allocated as follows (in thousands):

	Purchase Price
	Allocation
Cash	$	776
Accounts receivable		8,515
Inventory		14,032
Property, plant and equipment		3,126
Operating lease assets		8,076
Intangible assets		83,000
Goodwill		106,430
Other assets		561
Total assets acquired		224,516
Accounts payable		5,305
Operating lease liabilities		8,514
Deferred tax liabilities		18,257
Other liabilities		464
Total liabilities assumed		32,540
Total assets acquired, net of liabilities assumed		191,976
Less: cash acquired		776
Purchase price, net of cash acquired	$	191,200

Fair Value of Intangible Assets

The fair value of intangible assets for Motion Solutions is comprised of the following:

	Estimated Fair		Amortization
	Value (In thousands)		Period
Developed technologies	$	34,400	7 years
Customer relationships		43,100	13 years
Backlog		5,500	1 year
Total	$	83,000

Summary of Pro Forma Financial Information

The pro forma information for all periods presented below includes the effect of business combination accounting resulting from the acquisition of Motion Solutions, including amortization of inventory fair value adjustments, amortization of intangible assets, interest expense on borrowings in connection with the acquisition, and the related tax effects, assuming that the acquisition had been consummated as of January 1, 2023. The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisition had taken place on January 1, 2023.

	Three Months Ended				Six Months Ended
	June 28,		June 30,		June 28,		June 30,
	2024		2023		2024		2023
Revenue	$	235,864	$	251,838	$	466,780	$	489,692
Net income	$	14,061	$	16,281	$	31,181	$	28,396