Acquisitions (Tables)

9 Months Ended

Sep. 29, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated, preliminary fair values of the assets acquired and liabilities assumed for Precision as of the acquisition date (in thousands):

Receivables	$	18,562
Inventory	9,215
Other current assets	2,352
Property, plant and equipment	5,330
Intangible assets	162,000
Goodwill	144,690
Operating lease right-of-use assets	3,272
Total assets acquired	$	345,421
Accounts payable	$	11,452
Accrued liabilities	3,922
Deferred income taxes	37,507
Long-term operating lease liabilities	2,950
Total liabilities assumed	$	55,831
Net assets	$	289,590

Schedule of Acquired Intangible Assets

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

	Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Developed technologies	$	24,700	5.0
Customer relationships	122,800		20.0
Trademarks	3,100		2.5
Non-compete agreements	11,400		5.0
Total intangible assets subject to amortization	$	162,000
Intangible assets not subject to amortization:
Goodwill	$	144,690	n/a
Total intangible assets not subject to amortization	$	144,690
Total intangible assets	$	306,690
Weighted average amortization period			16.3

Schedule of Pro Forma Information

The following table illustrates the unaudited pro forma effect on operating results as if the Precision acquisition had been completed as of January 1, 2023.

	Three Months Ended				Nine Months Ended
	September 29, 2024		October 1, 2023		September 29, 2024		October 1, 2023
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	654,926	$	667,789	$	1,865,778	$	2,057,521
Net income attributable to Belden stockholders	57,021		74,122		140,744		200,609
Diluted income per share attributable to Belden stockholders	$	1.38	$	1.74	$	3.40	$	4.65