Acquisitions (Tables)

9 Months Ended

Sep. 27, 2014

Reznor [Member]

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following is a summary of the preliminary accounting for the fair value of the assets acquired and liabilities assumed (dollar amounts in millions):

Current assets (1)	$	47.1
Property and equipment	20.7
Goodwill	105.3
Intangible assets	119.7
Other assets	0.4
Current liabilities (2)	(18.9		)
Deferred income taxes	(11.0		)
Other long-term liabilities	(0.7		)
Estimated purchase price	$	262.6

(1) Includes cash of approximately $7.0 million, accounts receivable of approximately $17.2 million, inventories of approximately $20.5 million, prepaid and other current assets of approximately $1.5 million, and current deferred taxes of approximately $0.9 million. Inventories include a fair value adjustment to the historical carrying value of approximately $1.8 million, of which approximately $0.3 million and $1.8 million increased cost of products sold for the third quarter and nine months of 2014, respectively.

(2) Includes accounts payable of approximately $12.3 million and accrued expenses and taxes of approximately $6.6 million.

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

	Fair Value		Weighted Average Useful Lives
Customer relationships	$	59.6	11.0
Completed Technology	20.4		7.0
Trademarks	39.7		20.0
	$	119.7	11.6

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Based upon current fair value estimates, estimated future intangible asset amortization expense related to these acquired intangible assets is expected to aggregate approximately $115.4 million as follows:

Year Ended December 31,	Annual Amortization Expense
	(Dollar amounts in millions)
Remainder of 2014	$	2.6
2015	10.3
2016	10.3
2017	10.3
2018	10.3
2019 and thereafter	71.6

Business Acquisition, Pro Forma Information

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

	Year Ended			Nine Months of
	Dec. 31, 2013			2014			2013
	(Dollar amounts in millions, except per share data)
Net sales	$	2,447.1		$	1,961.4		$	1,846.3
Operating earnings	100.6			26.6			82.4
Net loss	(4.7		)	(42.1		)	(0.1		)
Basic loss per share	(0.31		)	(2.70		)	(0.01		)
Diluted loss per share	(0.31		)	(2.70		)	(0.01		)
Depreciation & amortization expense	111.0			79.9			82.1
Impairment of long-lived assets and goodwill	—			80.4			—

2GIG Technologies, Inc. [Member]

Business Acquisition [Line Items]

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 nine months of 2013 were as follows (dollar amounts in millions):

Net sales	$	1,771.0
Operating earnings	89.1
Net earnings	7.4
Basic earnings per share	0.48
Diluted earnings per share	0.47
Depreciation & amortization expense	69.4