Business Combinations (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

The following table summarizes the preliminary fair values of assets acquired, liabilities assumed and noncontrolling interest as of December 31, 2021 (in millions):

Fair Market Values (In millions)
Cash and cash equivalents	$	20.1
Accounts receivable		51.6
Inventories		73.7
Prepaid expenses and other		17.3
Property, plant and equipment		52.1
Goodwill		98.9
Purchased intangible assets		118.6
Deferred tax assets		0.8
Operating lease right-of-use assets		27.7
Other non-current assets		2.2
Total assets acquired		463.0
Bank borrowings		(5.0	)
Accounts payable		(30.8	)
Accrued compensation and related benefits		(10.5	)
Other current liabilities		(13.0	)
Deferred tax liabilities		(11.2	)
Operating lease liabilities		(23.8	)
Other liabilities		(4.0	)
Total liabilities assumed		(98.3	)
Noncontrolling interests		(1.8	)
Total consideration transferred	$	362.9

Summary of Purchased Intangible Assets

	Useful Life		Purchased Intangible Assets
	(In years)		(In millions)
Customer relationships		10	$	69.0
IP Knowhow	10 - 15			35.5
Trade names		5		9.8
Backlog		1		4.3
Total purchased intangible assets			$	118.6

Unaudited Pro forma Consolidated Results of Operations

The unaudited pro forma consolidated results of operations for the years ended December 31, 2021 and December 25, 2020 (in millions, except per share amounts) are summarized as follows:

	December 31,		December 25,
	2021		2020

Revenues	$	2,157.9	$	1,591.2
Net income	$	132.0	$	45.6
Basic earnings per share	$	3.04	$	1.13
Diluted earnings per share	$	2.98	$	1.11