Business Acquisitions (Tables) - Microsemi Corporation

3 Months Ended

Jun. 30, 2018

Business Acquisition [Line Items]

Schedule of recognized identified assets acquired and liabilities assumed

The table below represents the preliminary allocation of the purchase price to the net assets acquired based on their estimated fair values, as well as the associated estimated useful lives of the acquired intangible assets (in millions).

	May 29, 2018
Assets acquired
Cash and cash equivalents	$	340.0
Accounts receivable	216.1
Inventories	716.8
Prepaid expenses and other current assets	66.6
Property, plant and equipment	241.2
Goodwill	4,974.2
Purchased intangible assets	4,722.0
Long-term deferred tax assets	19.2
Other assets	101.2
Total assets acquired	11,397.3
Liabilities assumed
Accounts payable	(226.9		)
Other current liabilities	(174.8		)
Long-term debt	(2,056.9		)
Deferred tax liabilities	(545.7		)
Long-term income tax payable	(101.6		)
Other long-term liabilities	(46.3		)
Total liabilities assumed	(3,152.2		)
Purchase price allocated	$	8,245.1

Finite-lived and indefinite-lived intangible assets acquired as part of business combination

Purchased Intangible Assets	Weighted Average
	Useful Life	May 29, 2018
	(in years)	(in millions)
Core and developed technology	10	$	3,803.0
In-process research and development	—	434.0
Customer-related	10	448.1
Backlog	1	36.9
Total purchased intangible assets		$	4,722.0

Business Acquisition, Pro Forma Information

The following unaudited pro-forma consolidated results of operations for the three months ended June 30, 2018 and 2017 assume the closing of the Microsemi acquisition occurred as of April 1, 2017. The pro-forma adjustments are mainly comprised of acquired inventory fair value costs and amortization of purchased intangible assets. The pro-forma results of operations are presented for informational purposes only and are not indicative of the results of operations that would have been achieved if the acquisition had taken place on April 1, 2017 or of results that may occur in the future (in millions except per share data):

	Three Months Ended
	June 30, 2018		June 30, 2017
Net sales	$	1,426.8	$	1,430.2
Net income (loss)	$	109.9	$	(275.3	)
Basic net income (loss) per common share	$	0.47	$	(1.20	)
Diluted net income (loss) per common share	$	0.44	$	(1.20	)