Acquisitions (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the approximate fair values of the assets acquired and liabilities assumed at the date of closing.

(Table only in thousands)
Current assets (including cash of $137)	$	4,308
Property and equipment		459
Goodwill		20,667
Total assets acquired		25,434
Current liabilities assumed		(714	)
Net assets acquired	$	24,720

Schedule of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information represents the Company's results of operations as if GRC acquisition had occurred on January 1, 2021:

	Three months ended March 31,
(table in thousands, except per share data)	2022		2021
Net sales	$	94,575	$	75,215
Net income attributable to CECO Environmental Corp.		3,066		1,594
Earnings per share:
Basic	$	0.09	$	0.05
Diluted	$	0.09	$	0.04