Business Acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

The purchase price allocation is preliminary, pending, finalization of deferred income taxes adjustments. A summarized preliminary purchase price allocation is as follows:



(in thousands)
Non-cash consideration	$	7,318
Investments contributed at fair value	124,662
Investment contributed at cost	50,875
Total purchase price consideration	$	182,855

Schedule of Fair Value of Assets Acquired and Liabilities Assumed

The preliminary purchase price allocation at October 1, 2019, is as follows:



(in thousands)
Cash and cash equivalents	$	47,042
Accounts receivable	12,175
Inventories	31,765
Other current assets	2,638
Goodwill	2,726
Right of use asset	5,200
Other assets, net	861
Property, plant and equipment, net	321,380
	423,787

Trade and other payables	13,461
Accrued expense and other current liabilities	3,011
Other long-term liabilities	209
Long-term lease liabilities	2,230
Long-term debt, including current maturities	47,886
	66,797
Marathon Noncontrolling Interest	174,135
Net Assets Acquired	$	182,855

Removal of preexisting ownership interest	$	(88,426	)
Pretax gain on derecognition of preexisting ownership interest	$	36,286

Schedule of Pro Forma Financial Information

The summary pro forma financial information for the periods presented below gives effect to the TAMH acquisition as if it had occurred at January 1, 2019.



	Three months ended March 31,
(in thousands)	2020			2019
Net sales	$	1,853,105		$	2,031,510
Net income	(51,111		)	(15,228		)