Acquisitions (Tables)

6 Months Ended

Jun. 29, 2013

Schedule of Business Acquisitions, by Acquisition

The following is a summary of the preliminary estimates of the assets acquired and liabilities assumed (amounts in millions):




Current assets (1)	$	60.4
Property and equipment, net	2.6
Goodwill	65.1
Intangible assets	90.1
Other assets	0.1
Accounts payable and accrued expenses	(20.0		)
Deferred income taxes	(33.7		)
Estimated purchase price	$	164.6


(1)	Includes cash of approximately $3.4 million, accounts receivable of approximately $42.6 million, inventories of approximately $14.3 million, and other current assets of approximately $0.1 million. Inventories includes a fair value adjustment to the historical carrying value of approximately $3.1 million, which was fully amortized in the second quarter of 2013.

Schedule of Finite-Lived Intangible Assets Acquired

The following is a summary of the estimated fair values and weighted average useful lives by intangible asset class (amounts in millions, except for weighted average useful lives):



	Fair Value		Weighted Average Useful Lives
Customer relationships	$	77.8	10.1
Completed Technology	7.0		7.0
Trademarks	5.3		10.0
	$	90.1	9.8

Business Acquisition, Pro Forma Information

The unaudited pro forma net sales, operating earnings, net earnings, basic and diluted earnings per share, and depreciation and amortization expense for the Company as a result of the acquisition of 2GIG for the periods presented were as follows:



	Year Ended		First half of
	Dec. 31, 2012		2013		2012
	(Dollar amounts in millions)
Net sales	$	2,247.3	$	1,181.8	$	1,173.7
Operating earnings	122.4		56.6		75.2
Net earnings	5.0		3.2		14.5
Basic earnings per share	0.33		0.21		0.96
Diluted earnings per share	0.32		0.20		0.94
Depreciation & amortization expense	96.5		46.4		48.8