Business Combinations and Asset Purchases (Tables)

12 Months Ended

Jan. 02, 2022

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information [Table Text Block]

The following unaudited pro forma information presents the combined financial results for the Company and BioLegend as if the acquisition of BioLegend had been completed at the beginning of fiscal year 2020:

	January 2, 2022		January 3, 2021
	(In thousands, except per share data)
Pro Forma Statements of Operations Information:
Revenue	$	5,295,483	$	4,024,631
Income from continuing operations	1,001,109		551,572
Basic earnings per share:
Income from continuing operations	$	7.69	$	4.39
Diluted earnings per share:
Income from continuing operations	$	7.66	$	4.37

Fair Values of the Business Combinations and Allocations for the Acquisitions Completed

The total purchase price for the acquisitions in fiscal year 2021 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows:

	Preliminary
	BioLegend		Other
	(In thousands)
Fair value of business combination:
Cash payments	$	3,336,115	$	1,128,584
Common stock issued	2,638,369		—
Other liability	6,857		2,910
Contingent consideration	—		57,431
Working capital and other adjustments	—		183
Less: cash acquired	(292,377)		(195,010)
Total	$	5,688,964	$	994,098
Identifiable assets acquired and liabilities assumed:
Current assets	$	184,704	$	72,826
Property, plant and equipment	147,200		26,507
Other assets	9,330		15,564
Identifiable intangible assets:
Core technology and clone library	782,400		299,699
Trade names and patents	38,000		39,620
Licenses	8,979		—
Customer relationships and backlog	1,714,800		141,170
Goodwill	3,510,710		547,388
Deferred taxes	(668,920)		(83,931)
Deferred revenue	—		(1,197)
Debt assumed	—		(4,628)
Liabilities assumed	(38,239)		(58,920)
Total	$	5,688,964	$	994,098

The total purchase price for the acquisitions in fiscal year 2020 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows:

	(In thousands)
Fair value of business combination:
Cash payments	$	437,661
Other liability	1,660
Working capital and other adjustments	(384)
Less: cash acquired	(26,840)
Total	$	412,097
Identifiable assets acquired and liabilities assumed:
Current assets	$	35,532
Property, plant and equipment	20,302
Other assets	18,114
Identifiable intangible assets:
Core technology	65,730
Trade names	5,580
Customer relationships and backlog	108,523
IPR&D	10,700
Goodwill	221,751
Deferred taxes	(25,674)
Deferred revenue	(2,031)
Liabilities assumed	(46,430)
Total	$	412,097

The total purchase price for the acquisitions in fiscal year 2019 has been allocated to the estimated fair value of assets acquired and liabilities assumed as follows:

	(In thousands)
Fair value of business combination:
Cash payments	$	409,837
Other liability	7,084
Contingent consideration	12,734
Working capital and other adjustments	3,401
Less: cash acquired	(15,984)
Total	$	417,072
Identifiable assets acquired and liabilities assumed:
Current assets	$	62,756
Property, plant and equipment	11,840
Other assets	626
Identifiable intangible assets:
Core technology	153,267
Trade names	11,210
Customer relationships	101,500
Goodwill	169,108
Deferred taxes	(63,113)
Debt assumed	(3,404)
Liabilities assumed	(26,718)
Total	$	417,072