Acquisition (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of acquisition

The following table summarizes the allocation of the opening balance sheet as of the date of the Powerline Plus Companies acquisition:

(in thousands)	(as of acquisition date) January 4, 2022
Cash paid	$	114,429
Contingent consideration - fair value at acquisition date	10,608
Preliminary estimated net asset adjustments	563
Total consideration, net of estimated net asset adjustments	125,600
Less: Acquired cash	(3,853)
Total consideration less cash acquired, net of estimated net asset adjustments	$	121,747
Cash and cash equivalents	$	3,853
Accounts receivable, net	12,131
Contract assets, net	12,443
Refundable income taxes	394
Prepaid expenses and other current assets	1,233
Property and equipment	10,366
Operating lease right-of-use assets	6,631
Accounts payable	(8,095)
Contract liabilities	(1,597)
Accrued income taxes	(686)
Current portion of operating lease obligations	(1,224)
Current portion of finance lease obligations	(1,492)
Deferred income tax liabilities	(672)
Operating lease obligations, net of current maturities	(4,897)
Finance lease obligations, net of current maturities	(3,243)
Net identifiable assets and liabilities	25,145
Unallocated intangible assets	56,650
Total acquired assets and liabilities	81,795
Goodwill	$	43,805