Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
The following table summarizes the preliminary determination and recognition of assets acquired and liabilities assumed (in thousands): | | | | | | | | | | | | | | | At Acquisition Date As Reported December 31, 2023 | Accounts receivable | | | | | $ | 25,233 | | Inventories and supplies | | | | | 228 | | Prepaid expenses and other current assets | | | | | 1,302 | | Property, plant and equipment | | | | | 26,719 | | Permits and other intangibles | | | | | 28,900 | | Operating lease right-of-use assets | | | | | 4,716 | | Other long-term assets | | | | | 72 | | Current liabilities | | | | | (10,385) | | Current portion of operating lease liabilities | | | | | (1,653) | | Operating lease liabilities, less current portion | | | | | (3,063) | | | | | | | | Other long-term liabilities | | | | | (560) | | Total identifiable net assets | | | | | 71,509 | | Goodwill | | | | | 39,346 | | Total purchase price | | | | | $ | 110,855 | |
The following table summarizes the final determination and recognition of assets acquired and liabilities assumed (in thousands): | | | | | | | | | | | | | | | | | | | Preliminary Allocation As Reported December 31, 2022 | | Measurement Period Adjustments | | Final Allocation As Reported December 31, 2023 | Accounts receivable | $ | 1,111 | | | $ | (22) | | | $ | 1,089 | | Inventories and supplies | 5,816 | | | (71) | | | 5,745 | | Prepaid expenses and other current assets | 144 | | | — | | | 144 | | Property, plant and equipment | 19,605 | | | 2,626 | | | 22,231 | | Permits and other intangibles | 23,500 | | | — | | | 23,500 | | Operating lease right-of-use assets | 585 | | | — | | | 585 | | Other long-term assets | 13 | | | — | | | 13 | | Current liabilities | (3,271) | | | (104) | | | (3,375) | | Current portion of operating lease liabilities | (186) | | | — | | | (186) | | Operating lease liabilities, less current portion | (399) | | | — | | | (399) | | | | | | | | Other long-term liabilities | (55) | | | (2,626) | | | (2,681) | | Total identifiable net assets | 46,863 | | | (197) | | | 46,666 | | Goodwill | 32,015 | | | 197 | | | 32,212 | | Total purchase price | $ | 78,878 | | | $ | — | | | $ | 78,878 | |
The following table summarizes the final determination and recognition of assets acquired and liabilities assumed (in thousands): | | | | | | | | | | | | | | | | | Final Allocation | Accounts receivable, including unbilled receivables | | | | | $ | 131,516 | | Inventories and supplies | | | | | 3,162 | | Prepaid expenses and other current assets | | | | | 16,291 | | Property, plant and equipment | | | | | 314,397 | | Other intangibles | | | | | 289,000 | | Operating lease right-of-use assets | | | | | 34,415 | | Other long-term assets | | | | | 962 | | Current liabilities | | | | | (118,854) | | Current portion of operating lease liabilities | | | | | (11,277) | | Operating lease liabilities, less current portion | | | | | (26,344) | | Deferred tax liabilities | | | | | (80,386) | | Other long-term liabilities | | | | | (4,170) | | Total identifiable net assets | | | | | 548,712 | | Goodwill (i) | | | | | 676,701 | | Total purchase price | | | | | $ | 1,225,413 | | _____________ (i) Goodwill represents the excess of the fair value of the net assets acquired over the purchase price. Goodwill of $676.7 million is attributable to the future economic benefits arising from the acquired operations, synergies and the acquired workforce of HydroChemPSC. None of the goodwill related to this acquisition will be deductible for tax purposes. Final Goodwill was assigned to the Environmental Sales and Service reporting unit, see Note 8, "Goodwill and Other Intangible Assets" for details on reporting unit change as of December 31, 2023.
|
Schedule of Unaudited Pro Forma Financial Information |
The following table presents unaudited pro forma combined summary financial information for the year ended December 31, 2021, and assumes the acquisition of HydroChemPSC occurred on January 1, 2020 (in thousands):
| | | | | | | 2021 | Pro forma combined revenues | $ | 4,380,724 | | Pro forma combined net income | 229,807 | |
|