Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Giner ELX, Inc

Schedule of fair value of consideration paid

The fair value of consideration paid by the Company in connection with the Giner ELX acquisition was as follows (in thousands):

Cash	$	25,820
Plug Power Stock		19,263
Contingent consideration		7,790
Total consideration	$	52,873

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

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

Accounts receivable	$	1,237
Inventory		4,108
Prepaid expenses and other assets		669
Property, plant and equipment		596
Identifiable intangibles		29,930
Accounts payable, accrued expenses and other liabilities		(1,621)
Deferred revenue		(2,350)
Deferred tax liability, net		(5,889)
Total net assets acquired, excluding goodwill	$	26,680

Business combination segment allocation

Goodwill associated with the Giner ELX acquisition was calculated as follows (in thousands):

Consideration paid	$	52,873
Less: net assets acquired		(26,680)
Total goodwill recognized	$	26,193

United Hydrogen Group Inc

Schedule of fair value of consideration paid

The fair value of consideration paid by the Company in connection with the UHG acquisition was as follows (in thousands):

Cash	$	19,293
Plug Power Stock		30,410
Contingent consideration		1,110
Total consideration	$	50,813

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

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

Accounts receivable	$	444
Inventory		89
Prepaid expenses and other assets		1,152
Property, plant and equipment		41,244
Leased property		796
Identifiable intangible asset		2,338
Long-term debt		(11,336)
Unfavorable customer contract		(15,757)
Accounts payable, accrued expenses, deferred revenue and finance obligations		(4,631)
Total net assets acquired, excluding goodwill	$	14,339

Business combination segment allocation

Goodwill associated with the UHG acquisition was calculated as follows (in thousands):

Consideration paid	$	50,813
Less: net assets acquired		(14,339)
Total goodwill recognized	$	36,474