Acquisition of HyPulsion (Tables)

12 Months Ended

Dec. 31, 2015

Acquisition of HyPulsion

Summary of allocation of the purchase price to the estimated fair value of the net assets acquired

        The following table summarizes the allocation of the purchase price to the estimated fair value of the net assets acquired, excluding goodwill (in thousands):

Cash and cash equivalents	$	1,496
Accounts receivable		917
Inventory		765
Prepaid expenses and other assets		746
Leased property under capital lease		159
Identifiable intangibles		4,159
Accounts payable, accrued expenses, and other liabilities		(2,430	)
Total net assets acquired, excluding goodwill	$	5,812

Goodwill associated with the acquisition

        Goodwill associated with the acquisition represents expanded access to the European markets related to the sale of fuel cell technology for material handling equipment and was calculated as follows (in thousands):

Consideration paid	$	11,474
Add: fair value of prior interest		2,869
Less: net assets acquired		(5,812	)
Total goodwill recognized	$	8,531