Acquisition (Tables)

9 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The 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 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