Acquisitions (Tables)

12 Months Ended

Dec. 31, 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	$	24,191
Inventory	7,098
Other current assets	1,486
Property, plant and equipment	5,330
Intangible assets	194,100
Goodwill	121,604
Operating lease right-of-use assets	2,731
Total assets acquired	$	356,540
Accounts payable	$	11,662
Accrued liabilities	10,193
Deferred income taxes	42,585
Long-term operating lease liabilities	2,468
Total liabilities assumed	$	66,908
Net assets	$	289,632

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

Receivables	$	5,093
Inventory	7,590
Other current assets	2,733
Property, plant and equipment	13,135
Intangible assets	44,328
Goodwill	32,243
Deferred income taxes	433
Operating lease right-of-use assets	131
Other long-lived assets	4,559
Total assets acquired	$	110,245
Accounts payable	$	1,907
Accrued liabilities	4,283
Deferred income taxes	6,551
Total liabilities assumed	$	12,741
Net assets	$	97,504

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	161,900		20.0
Trademarks	3,000		2.5
Non-compete agreements	4,500		5.0
Total intangible assets subject to amortization	$	194,100
Intangible assets not subject to amortization:
Goodwill	$	121,604	n/a
Total intangible assets not subject to amortization	$	121,604
Total intangible assets	$	315,704
Weighted average amortization period			17.5

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

	Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Customer relationships	$	41,161	20.0
Trademarks	2,184		7.0
Sales backlog	983		0.2
Total intangible assets subject to amortization	$	44,328
Intangible assets not subject to amortization:
Goodwill	$	32,243	n/a
Total intangible assets not subject to amortization	$	32,243
Total intangible assets	$	76,571
Weighted average amortization period			18.9

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.

		Years Ended December 31,
		2024		2023
	(In thousands, except per share data)
	(Unaudited)
Revenues		$	2,531,820	$	2,640,396
Net income attributable to Belden stockholders		202,947		232,713
Diluted income per share attributable to Belden stockholders		$	4.91	$	5.43