Acquisitions (Tables)

6 Months Ended

Jul. 01, 2018

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair value of the assets acquired and the liabilities assumed as of May 31, 2017 (in thousands):

Receivables	$	4,355
Inventory	16,424
Prepaid and other current assets	320
Property, plant, and equipment	4,289
Intangible assets	73,400
Goodwill	70,654
Deferred income taxes	598
Total assets acquired	$	170,040
Accounts payable	$	1,231
Accrued liabilities	1,353
Deferred revenue	1,702
Total liabilities assumed	$	4,286
Net assets	$	165,754

The following table summarizes the estimated, preliminary fair value of the assets acquired and the liabilities assumed as of February 8, 2018 (in thousands):

Receivables	$	19,900
Inventory	15,141
Prepaid and other current assets	3,375
Property, plant, and equipment	9,212
Intangible assets	44,750
Goodwill	90,389
Deferred taxes	5,476
Other long-lived assets	2,156
Total assets acquired	$	190,399
Accounts payable	$	11,927
Accrued liabilities	18,693
Deferred revenue	4,000
Long-term debt	19,315
Postretirement benefits	31,343
Other long-term liabilities	591
Total liabilities assumed	$	85,869
Net assets	$	104,530

Schedule of Acquired Intangible Assets

The intangible assets related to the acquisition consisted of the following:

	Preliminary Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Developed technologies	$	32,500	5.0
Customer relationships	9,000		12.0
Sales backlog	1,750		0.3
Trademarks	1,500		2.0
Total intangible assets subject to amortization	$	44,750
Intangible assets not subject to amortization:
Goodwill	$	90,389	n/a
Total intangible assets not subject to amortization	$	90,389
Total intangible assets	$	135,139
Weighted average amortization period			6.1 years

The intangible assets related to the acquisition consisted of the following:

	Preliminary Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Developed technologies	$	62,600	10.0
Customer relationships	6,500		8.0
Trademarks	2,900		10.0
Sales backlog	1,400		0.3
Total intangible assets subject to amortization	$	73,400
Intangible assets not subject to amortization:
Goodwill	$	70,654	n/a
Total intangible assets not subject to amortization	$	70,654
Total intangible assets	$	144,054
Weighted average amortization period			9.6

Schedule of Pro Forma Information

The following table illustrates the unaudited pro forma effect on operating results as if the SAM acquisition had been completed as of January 1, 2017.

	Three Months Ended				Six Months Ended
	July 1, 2018		July 2, 2017		July 1, 2018		July 2, 2017
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	671,441	$	634,496	$	1,285,625	$	1,213,867
Net income attributable to Belden common stockholders	35,241		11,427		34,169		12,406
Diluted income per share attributable to Belden common stockholders	$	0.86	$	0.27	$	0.82	$	0.29

The following table illustrates the unaudited pro forma effect on operating results as if the Thinklogical acquisition had been completed as of January 1, 2016.

	Three Months Ended		Six Months Ended
	July 2, 2017		July 2, 2017
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	615,109	$	1,170,745
Net income attributable to Belden common stockholders	28,250		41,130
Diluted income per share attributable to Belden common stockholders	$	0.66	$	0.96