Acquisition Activity (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the provisional fair values assigned to the assets and liabilities of DTS as of June 1, 2021 (in thousands):

	June 1, 2021
Working capital	$	12,587
Property and equipment	1,209
Deferred income tax liability	(6,178)
Intangible assets:
Acquired technology	13,167
Customer relationships	8,135
Trade names	2,393
Total intangible assets	23,695
Fair value of acquired identifiable assets	31,313
Purchase price	$	47,216
Goodwill	$	15,903

(a) Working capital accounts include accounts receivable, inventory, prepaid expenses, accounts payable, accrued expenses, and accrued payroll.

The following table summarizes the final fair values assigned to the assets and liabilities of DSI as of November 1, 2019 (in thousands):

	November 1, 2019
Working capital (a)	$	6,740
Property and equipment	1,727
Long-term deferred income tax liability	(2,643)
Non-Controlling interest	(299)
Intangible assets:
Patents and acquired technology	10,250
Customer relationships	4,344
Trade names	3,300
Total intangible assets	17,894
Fair value of acquired identifiable assets and liabilities	23,419
Purchase price	40,325
Goodwill	$	16,906

(a) Working capital accounts include accounts receivable, inventory, prepaid expenses, accounts payable, accrued expenses, and accrued payroll.

Schedule of Acquisition Costs

The Company recorded acquisition costs associated with this transaction as follows (in thousands):

	Year Ended December 31,
	2021
Legal fees	$	341
Appraisal fees	18
Investment banker fees and insurance costs	839
	$	1,198

The Company recorded acquisition costs of associated with this transaction in its consolidated statements of operation as follows (in thousands):

	Year ended December 31,
	2019
Accounting and legal fees	$	214
Appraisal fees	13
Other	216
	$	443

Business Acquisition, Pro Forma Information

Following are the supplemental consolidated financial results for the Company on an unaudited pro forma basis, as if the DTS acquisition had been consummated on January 1, 2020 (unaudited):

	Year ended December 31,		Year ended December 31,
	2021		2020
	(unaudited)		(unaudited)
Pro forma net revenues	$	331,155	$	301,577
Pro forma net earnings attributable to VPG stockholders	$	25,109	$	14,289
Pro forma basic earnings per share attributable to VPG stockholders	$	1.84	$	1.05
Pro forma diluted earnings per share attributable to VPG stockholders	$	1.84	$	1.05