| Assets and Liabilities Acquired |
The following table summarizes the estimated fair values of the Icebreaker assets acquired and liabilities assumed at the date of acquisition:
|
|
|
|
|
|
(In thousands) |
|
April 3, 2018 |
Cash and equivalents |
|
$ |
6,444 |
|
Accounts receivable |
|
16,781 |
|
Inventories |
|
31,728 |
|
Other current assets |
|
3,931 |
|
Property, plant and equipment |
|
3,858 |
|
Intangible assets |
|
98,041 |
|
Other assets |
|
4,758 |
|
Total assets acquired |
|
165,541 |
|
|
|
|
Short-term borrowings |
|
7,235 |
|
Accounts payable |
|
2,075 |
|
Other current liabilities |
|
21,919 |
|
Deferred income tax liabilities |
|
22,802 |
|
Other noncurrent liabilities |
|
433 |
|
Total liabilities assumed |
|
54,464 |
|
|
|
|
Net assets acquired |
|
111,077 |
|
Goodwill |
|
85,875 |
|
Purchase price |
|
$ |
196,952 |
|
The following table summarizes the fair values of the Williamson-Dickie assets acquired and liabilities assumed at the date of acquisition:
|
|
|
|
|
|
(In thousands) |
|
October 2, 2017 |
Cash and equivalents |
|
$ |
60,172 |
|
Accounts receivable |
|
146,403 |
|
Inventories |
|
251,778 |
|
Other current assets |
|
8,447 |
|
Property, plant and equipment |
|
105,119 |
|
Intangible assets |
|
397,755 |
|
Other assets |
|
9,665 |
|
Total assets acquired |
|
979,339 |
|
|
|
|
Short-term borrowings |
|
17,565 |
|
Accounts payable |
|
88,052 |
|
Other current liabilities |
|
109,964 |
|
Deferred income tax liabilities |
|
15,160 |
|
Other noncurrent liabilities |
|
33,066 |
|
Total liabilities assumed |
|
263,807 |
|
|
|
|
Net assets acquired |
|
715,532 |
|
Goodwill |
|
82,863 |
|
Purchase price |
|
$ |
798,395 |
|
The following table summarizes the estimated fair values of the Altra assets acquired and liabilities assumed at the date of acquisition:
|
|
|
|
|
|
(In thousands) |
|
June 1, 2018 |
Accounts receivable |
|
$ |
11,629 |
|
Inventories |
|
9,310 |
|
Other current assets |
|
575 |
|
Property, plant and equipment |
|
1,107 |
|
Intangible assets |
|
59,700 |
|
Total assets acquired |
|
82,321 |
|
|
|
|
Accounts payable |
|
5,068 |
|
Other current liabilities |
|
7,415 |
|
Total liabilities assumed |
|
12,483 |
|
|
|
|
Net assets acquired |
|
69,838 |
|
Goodwill |
|
61,719 |
|
Purchase price |
|
$ |
131,557 |
|
|
| Pro Forma Results |
The following unaudited pro forma summary presents consolidated information of VF as if the acquisition of Williamson-Dickie had occurred on January 3, 2016:
|
|
|
|
|
|
|
|
|
(In thousands) |
Three Months Ended
December 2017
(unaudited) |
|
Nine Months Ended
December 2017
(unaudited) |
Net revenues |
$ |
3,649,283 |
|
|
$ |
9,766,005 |
|
Income (loss) from continuing operations |
(61,494 |
) |
|
544,094 |
|
Earnings (loss) per common share from continuing operations |
|
|
|
Basic |
$ |
(0.16 |
) |
|
$ |
1.38 |
|
Diluted |
(0.15 |
) |
|
1.36 |
|
|