Business Acquisitions Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The CFS acquisition resulted in the identification of the following identifiable intangible assets:



	Intangible assets acquired (in thousands)		Weighted average amortization period (in years)
Customer relationship	$	49,600	14
Existing technology	25,800		10
Trade name	24,100		Indefinite
Aftermarket backlog	2,100		1
Total intangible assets	$	101,600

The following table summarizes the fair value of the assets acquired and the liabilities assumed, at the date of acquisition:



(in thousands)
Cash and cash equivalents	$	36,316
Other current assets	11,470
Property, plant and equipment	1,999
Identifiable intangible assets	32,829
Current liabilities	(5,452		)
Deferred income taxes	(7,285		)
Other non-current liabilities	(642		)
Total identifiable net assets	69,235
Goodwill	46,818
Total purchase price	$	116,053

The following table summarizes the preliminary fair value of the assets acquired and the liabilities assumed, at the date of acquisition:



(in thousands)
Cash and cash equivalents	$	6,603
Accounts receivable	28,128
Unbilled receivable	10,786
Inventory	18,701
Prepaid and other current assets	4,380
Property, plant and equipment	20,869
Identifiable intangible assets	101,600
Accounts payable	(11,655		)
Accrued and other expenses	(8,482		)
Deferred revenue	(3,997		)
Deferred income taxes	(42,660		)
Total identifiable net assets	$	124,273
Goodwill	93,228
Total purchase price	$	217,501

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The Schroedahl acquisition resulted in the identification of the following identifiable intangible assets:



	Intangible assets acquired (in thousands)		Weighted average amortization period (in years)
Customer relationships	$	22,185	7
Order backlog	3,993		1
Acquired technology	2,260		10
Tradename	4,391		Indefinite
Total intangible assets	$	32,829

Pro Forma Information

Accordingly, these unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the acquisition had occurred at the beginning of the period presented, nor are they indicative of future results of operations (in thousands):



(Unaudited)	Year ended December 31,
	2016		2015
Net Revenues	$	710,825	$	776,833
Net Income	$	13,578	$	8,954