Intangible Assets and Goodwill (Tables)

3 Months Ended

Apr. 02, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes preliminary fair values of assets acquired and liabilities assumed as of the February 19, 2016 acquisition date:

Cash	$	86
Accounts receivable, net	55
Other current assets	36
Property, plant and equipment, net	481
Deferred income taxes	79
Intangible assets	631
Accounts payable	(18		)
Accrued liabilities	(184		)
Other liabilities	(254		)
Goodwill	170
Total consideration	$	1,082
Net present value of deferred consideration payment to former owners	(82		)
Net cash consideration at purchase	$	1,000

Results of Operations of the Company and GDCL as if the Acquisition has occurred on January 1, 2016

The following table presents the unaudited pro forma combined results of operations of the Company and GDCL for the three months endedApril 2, 2016 and April 4, 2015 as if the acquisition of GDCL had occurred on January 1, 2016 and January 1, 2015, respectively, (in millions, except per share amounts):

	Three Months Ended
	April 2, 2016		April 4, 2015
Revenues	$	1,264	$	1,364
Earnings from continuing operations	41		100
Basic earnings per share	0.24		0.46
Diluted earnings per share	0.23		0.46

Intangible Assets

Amortized intangible assets were comprised of the following: 

	April 2, 2016				December 31, 2015
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Completed technology	$	60	$	33	$	60	$	32
Patents	8		5		8		5
Customer-related	629		21		23		10
Other intangibles	46		15		20		15
	$	743	$	74	$	111	$	62

Amortized Intangible Assets, Excluding Goodwill, By Business Segment

Amortized intangible assets, excluding goodwill, were comprised of the following by segment:

	April 2, 2016				December 31, 2015
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Products	$	86	$	59	$	89	$	60
Services	657		15		22		2
	$	743	$	74	$	111	$	62

Goodwill

The following table displays a rollforward of the carrying amount of goodwill by segment from January 1, 2016 to April 2, 2016: 

	Products		Services		Total
Balance as of January 1, 2016
Aggregate goodwill	$	270	$	150	$	420
Accumulated impairment losses	—		—		—
Goodwill, net of impairment losses	$	270	$	150	$	420
Goodwill acquired	—		170		170
Balance as of April 2, 2016
Aggregate goodwill	$	270	$	320	$	590
Accumulated impairment losses	—		—		—
Goodwill, net of impairment losses	$	270	$	320	$	590