Acquisition (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Business Acquisitions, by Acquisition

The preliminary fair value of the assets and liabilities is as follows:



	(in thousands)
Cash	$	250
Accounts receivables	1,258
Prepaid	23
Contract assets	115,000
Tradename	22,000
Goodwill	93,384
Accounts payable	(348		)
Total Consideration	$	231,567

Intangible Assets Acquired as Part of Business Combination

The purchase price, subject to customary adjustments, was based on the projected business growth and cash flows over the next several years and indicated a value that was in excess of the current net book value of the business, resulting in the recognition of various identifiable intangible assets and goodwill as follows:



	(in thousands)		Useful Life
Franchise agreements acquired	$	115,000	12-20 years
WoodSpring tradename	22,000		Indefinite
Goodwill	93,384		Indefinite
Total	$	230,384