Acquisition (Tables)

9 Months Ended

Sep. 30, 2018

Summary of Consideration Allocated to Assets Acquired and Liabilities Assumed

Total consideration of $71.8 million was allocated to the assets acquired and liabilities assumed, as follows (in thousands):


Accounts receivable, net	$	8,357
Contract retainage		1,948
Inventories, net		2,344
Prepaid expenses and other assets		1,223
Revenues in excess of billings		3,463
Fixed assets, net		1,264
Intangible assets		4,900
Goodwill		57,938
Accounts payable		(3,990	)
Accrued liabilities and other expenses		(2,329	)
Billings in excess of revenues		(1,752	)
Customer Deposits		(1,562	)

Total estimated consideration	$	71,804

Summary of Unaudited Pro Forma Results of Operations

The following pro forma results of Trex Company, Inc. are prepared for comparative purposes only and do not necessarily reflect the results that would have occurred had the acquisition occurred at the beginning of the periods presented or the results which may occur in the future. The following unaudited pro forma results of operations assumes the acquisition occurred on January 1, 2017 (in thousands, except per share amounts):


	Nine Months Ended September 30, 2017
	Actual		Pro Forma
Net sales	$	442,941	$	475,076
Net income	$	76,829	$	77,570
Basic earnings per common share	$	1.31	$	1.32
Diluted earnings per common share	$	1.30	$	1.31