Acquisitions and Purchase Accounting (Tables)

6 Months Ended

Jun. 29, 2019

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information [Table Text Block]

The following pro forma results include adjustments to reflect additional interest expense to fund the acquisitions, amortization of intangibles associated with the acquisitions, and the effects of adjustments made to the carrying value of certain assets (in thousands, except per share data): 

	Six Months Ended
	June 29, 2019		June 30, 2018
Net sales	$	1,480,397	$	1,494,792
Net earnings	160,996		127,715
Net earnings per share:
Basic	$	2.89	$	2.30
Diluted	2.89		2.30

Hinds-Bock

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The final allocation of consideration paid for the Hinds-Bock acquisition is summarized as follows (in thousands):

	(as initially reported) February 16, 2018			Measurement Period Adjustments			(as adjusted) February 16, 2018
Cash	$	5		$	—		$	5
Current assets	5,301			(3		)	5,298
Property, plant and equipment	3,557			—			3,557
Goodwill	12,686			(1,166		)	11,520
Other intangibles	8,081			1,119			9,200
Long term deferred tax asset	—			115			115
Current liabilities	(3,800		)	(465		)	(4,265		)
Net assets acquired and liabilities assumed	$	25,830		$	(400	)	$	25,430

VeMaC

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The final allocation of consideration paid for the Ve.Ma.C acquisition is summarized as follows (in thousands):

	(as initially reported) April 3, 2018			Measurement Period Adjustments			(as adjusted) April 3, 2018
Cash	$	1,833		$	—		$	1,833
Current assets	10,722			—			10,722
Property, plant and equipment	389			—			389
Goodwill	7,278			(2,506		)	4,772
Other intangibles	2,584			3,776			6,360
Other assets	12			—			12
Current portion of long-term debt	(1,901		)	—			(1,901		)
Current liabilities	(8,076		)	(216		)	(8,292		)
Long term deferred tax liability	(340		)	(1,054		)	(1,394		)
Other non-current liabilities	(212		)	—			(212		)
Net assets acquired and liabilities assumed	$	12,289		$	—		$	12,289

Firex

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The final allocation of consideration paid for the Firex acquisition is summarized as follows (in thousands):

	(as initially reported) April 27, 2018			Measurement Period Adjustments			(as adjusted) April 27, 2018
Cash	$	10,652		$	(37	)	$	10,615
Current assets	7,656			39			7,695
Property, plant and equipment	2,447			—			2,447
Goodwill	36,706			(1,424		)	35,282
Other intangibles	19,806			2,294			22,100
Current portion of long-term debt	(1,210		)	—			(1,210		)
Current liabilities	(4,099		)	(471		)	(4,570		)
Long term deferred tax liability	(4,995		)	(652		)	(5,647		)
Long-term debt	(1,069		)	—			(1,069		)
Other non-current liabilities	(1,318		)	—			(1,318		)
Net assets acquired and liabilities assumed	$	64,576		$	(251	)	$	64,325

Josper

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

(in thousands):

	(as initially reported) May 10, 2018			Measurement Period Adjustments			(as adjusted) May 10, 2018
Cash	$	3,308		$	—		$	3,308
Current assets	6,579			13			6,592
Property, plant and equipment	4,739			—			4,739
Goodwill	27,140			(3,345		)	23,795
Other intangibles	13,136			4,754			17,890
Other assets	2			—			2
Current portion of long-term debt	(217		)	—			(217		)
Current liabilities	(5,146		)	(89		)	(5,235		)
Long-term debt	(1,608		)	—			(1,608		)
Long term deferred tax liability	(2,934		)	(1,579		)	(4,513		)
Other non-current liabilities	(2,169		)	—			(2,169		)
Consideration paid at closing	$	42,830		$	(246	)	$	42,584
Contingent consideration	3,454			—			3,454
Net assets acquired and liabilities assumed	$	46,284		$	(246	)	$	46,038

Taylor

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The final allocation of consideration paid for the Taylor acquisition is summarized as follows (in thousands):

	(as initially reported) June 22, 2018			Measurement Period Adjustments			(as adjusted) June 22, 2018
Cash	$	2,551		$	64		$	2,615
Current assets	71,162			(2,011		)	69,151
Property, plant and equipment	21,187			(556		)	20,631
Goodwill	491,339			(120,497		)	370,842
Other intangibles	484,210			119,550			603,760
Other assets	—			361			361
Long-term deferred tax asset	—			227			227
Current liabilities	(48,417		)	(4,099		)	(52,516		)
Other non-current liabilities	(8,161		)	(648		)	(8,809		)
Net assets acquired and liabilities assumed	$	1,013,871		$	(7,609	)	$	1,006,262

M-TEK

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) October 1, 2018			Preliminary Measurement Period Adjustments			(as adjusted) October 1, 2018
Current assets	$	2,745		$	—		$	2,745
Property, plant and equipment	2,497			—			2,497
Goodwill	11,610			(1,000		)	10,610
Other intangibles	3,294			1,000			4,294
Current liabilities	(144		)	—			(144		)
Net assets acquired and liabilities assumed	$	20,002		$	—		$	20,002

Crown

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) December 3, 2018			Preliminary Measurement Period Adjustments			(as adjusted) December 3, 2018
Cash	$	495		$	—		$	495
Current assets	5,045			—			5,045
Property, plant and equipment	8,710			3,658			12,368
Goodwill	31,226			(4,805		)	26,421
Other intangibles	—			2,958			2,958
Current liabilities	(2,340		)	(281		)	(2,621		)
Long-term deferred tax liability	(668		)	(1,753		)	(2,421		)
Net assets acquired and liabilities assumed	$	42,468		$	(223	)	$	42,245

EVO

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) December 31, 2018			Preliminary Measurement Period Adjustments			(as adjusted) December 31, 2018
Cash	$	162		$	—		$	162
Current assets	1,490			—			1,490
Goodwill	6,896			(53		)	6,843
Other intangibles	5,081			—			5,081
Current liabilities	(518		)	—			(518		)
Long-term deferred tax liability	(540		)	—			(540		)
Other non-current liabilities	(12		)	—			(12		)
Net assets acquired and liabilities assumed	$	12,559		$	(53	)	$	12,506

Cooking Solutions Group

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) April 1, 2019
Cash	$	843
Current assets	33,666
Property, plant and equipment	15,959
Goodwill	31,207
Other intangibles	53,450
Current liabilities	(15,130		)
Long-term deferred tax liability	(13,082		)
Net assets acquired and liabilities assumed	$	106,913

Powerhouse

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) April 1, 2019
Cash	$	24
Current assets	1,351
Property, plant and equipment	14
Goodwill	5,789
Other intangibles	5,060
Long-term deferred tax asset	1,673
Current liabilities	(2,624		)
Other non-current liabilities	(271		)
Net assets acquired and liabilities assumed	$	11,016

Brewtech

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The following estimated fair values of assets acquired and liabilities assumed are provisional and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed (in thousands):

	(as initially reported) June 15, 2019
Cash	$	468
Current assets	3,936
Property, plant and equipment	30
Goodwill	26,528
Other intangibles	15,318
Long-term deferred tax asset	155
Current liabilities	(3,393		)
Other non-current liabilities	(5,768		)
Consideration paid at closing	$	37,274
Deferred payments	2,404
Contingent consideration	4,258
Net assets acquired and liabilities assumed	$	43,936